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REGISTERED NUMBER: 07582121 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

EUROREACH LTD

EUROREACH LTD (REGISTERED NUMBER: 07582121)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EUROREACH LTD

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTOR: T Oraee-Mirzamani





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07582121 (England and Wales)






EUROREACH LTD (REGISTERED NUMBER: 07582121)

STATEMENT OF FINANCIAL POSITION
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,069 2,921
Investment property 5 9,714,568 9,714,568
9,718,637 9,717,489

CURRENT ASSETS
Debtors 6 1,120,240 1,176,631
Cash at bank 16,864 115,774
1,137,104 1,292,405
CREDITORS
Amounts falling due within one year 7 764,465 935,499
NET CURRENT ASSETS 372,639 356,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,091,276

10,074,395

CREDITORS
Amounts falling due after more than one
year

8

(3,664,256

)

(3,680,047

)

PROVISIONS FOR LIABILITIES (1,004,977 ) (1,004,977 )
NET ASSETS 5,422,043 5,389,371

CAPITAL AND RESERVES
Called up share capital 99 99
Revaluation reserve 4,834,356 4,834,356
Retained earnings 587,588 554,916
5,422,043 5,389,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EUROREACH LTD (REGISTERED NUMBER: 07582121)

STATEMENT OF FINANCIAL POSITION - continued
30 September 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





T Oraee-Mirzamani - Director


EUROREACH LTD (REGISTERED NUMBER: 07582121)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Euroreach Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

EUROREACH LTD (REGISTERED NUMBER: 07582121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 17,684
Additions 2,166
At 30 September 2023 19,850
DEPRECIATION
At 1 October 2022 14,763
Charge for year 1,018
At 30 September 2023 15,781
NET BOOK VALUE
At 30 September 2023 4,069
At 30 September 2022 2,921

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 9,714,568
NET BOOK VALUE
At 30 September 2023 9,714,568
At 30 September 2022 9,714,568

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2021 5,839,333
Cost 3,875,235
9,714,568

The director of the company carried out valuations of the properties at 30 September 2021 based on available market data.

In the opinion of the director, there are no material movements between the current market value of the properties and the value shown on the face of the balance sheet.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 1,120,240 1,176,631

EUROREACH LTD (REGISTERED NUMBER: 07582121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 379,309 536,837
Trade creditors 34,620 31,049
Taxation and social security 73,838 82,247
Other creditors 276,698 285,366
764,465 935,499

Included within other creditors are accrued expenses of £18,890 (2022: £18,890) and deferred income of £7,875 (2022: £1,625)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 29,981 45,772
Other creditors 3,634,275 3,634,275
3,664,256 3,680,047

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 3,634,275 3,634,275

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loan 4,043,565 4,216,884

The bank loans are secured by way of fixed and floating charges over all undertakings and all property and assets of the company.