IRIS Accounts Production v24.2.0.383 01751783 director 1.1.23 31.12.23 31.12.23 21.8.24 0 0 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017517832022-12-31017517832023-12-31017517832023-01-012023-12-31017517832021-12-31017517832022-01-012022-12-31017517832022-12-3101751783ns15:EnglandWales2023-01-012023-12-3101751783ns14:PoundSterling2023-01-012023-12-3101751783ns10:Director12023-01-012023-12-3101751783ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101751783ns10:SmallEntities2023-01-012023-12-3101751783ns10:Audited2023-01-012023-12-3101751783ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101751783ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101751783ns10:FullAccounts2023-01-012023-12-3101751783ns10:OrdinaryShareClass12023-01-012023-12-3101751783ns10:RegisteredOffice2023-01-012023-12-3101751783ns5:CurrentFinancialInstruments2023-12-3101751783ns5:CurrentFinancialInstruments2022-12-3101751783ns5:ShareCapital2023-12-3101751783ns5:ShareCapital2022-12-3101751783ns5:RetainedEarningsAccumulatedLosses2023-12-3101751783ns5:RetainedEarningsAccumulatedLosses2022-12-3101751783ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 01751783 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EUROMENA RESEARCH CENTER LIMITED

EUROMENA RESEARCH CENTER LIMITED (REGISTERED NUMBER: 01751783)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EUROMENA RESEARCH CENTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S H Aldowais





REGISTERED OFFICE: 10th Floor, Building 7 Chiswick Park
566 Chiswick High Road
London
W4 5YG





REGISTERED NUMBER: 01751783 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

EUROMENA RESEARCH CENTER LIMITED (REGISTERED NUMBER: 01751783)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £

CREDITORS
Amounts falling due within one year 4 4,640,241 4,635,041
NET CURRENT LIABILITIES (4,640,241 ) (4,635,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,640,241

)

(4,635,041

)

CAPITAL AND RESERVES
Called up share capital 5 400,000 400,000
Retained earnings (5,040,241 ) (5,035,041 )
SHAREHOLDERS' FUNDS (4,640,241 ) (4,635,041 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 20 August 2024 and were signed by:





S H Aldowais - Director


EUROMENA RESEARCH CENTER LIMITED (REGISTERED NUMBER: 01751783)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Euromena Research Center Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are prepared in pounds Sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest '£'.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements have been prepared on a going concern basis under the historical cost convention.

Euromena Research Center Limited is a wholly owned subsidiary of the Saudi Research and Media Group and the results of the Company are included in the consolidated financial statements of Saudi Research and Media Group. Saudi Research and Media Group is incorporated and registered in the Kingdom of Saudi Arabia. The registered office is PO Box 53108, Riyadh 11583, Saudi Arabia.

The principal accounting policies adopted are set out below.

Going concern
As explained in the Director's Report, the Company ceased trading in May 2007. The director has at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

The Company is dependent on the financial support of its parent undertaking, Saudi Research and Publishing Company Limited, in order to meet its obligations as they fall due. Saudi Research and Publishing Company Limited has indicated that it will continue to support the Company, thereby enabling it to meet its obligations as they fall due, for a period of not less than one year from the date of this report.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

EUROMENA RESEARCH CENTER LIMITED (REGISTERED NUMBER: 01751783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial liabilties
Basic financial liabilities, includes amounts due to fellow group companies which are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the Company's obligations are discharged, cancelled, or they expire.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Taxation
The tax expense represents the sum of the tax currently payable.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 9,791 9,791
Amounts owed to group undertakings 4,624,450 4,621,250
Other creditors 6,000 4,000
4,640,241 4,635,041

EUROMENA RESEARCH CENTER LIMITED (REGISTERED NUMBER: 01751783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
400,000 Ordinary 1 400,000 400,000

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

7. RELATED PARTY TRANSACTIONS

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. CONTROLLING PARTY

The Company's immediate parent undertaking is Arshaq Al-Awsat Limited, a Company incorporated in Great Britain and registered in England and Wales.

In the director's opinion the Company's ultimate parent undertaking and controlling party is Saudi Research and Media Group, which is incorporated and registered in the Kingdom of Saudi Arabia. The largest group of which Euromena Research Center Limited is a member for which group financial statements are drawn up is Saudi Research and Media Group. Copies of its group financial statements, which include the Company, are available from PO Box 53108, Riyadh 11583, Saudi Arabia.