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REGISTERED NUMBER: 07306126 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EUROPEAN DYNAMICS UK LTD

EUROPEAN DYNAMICS UK LTD (REGISTERED NUMBER: 07306126)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


EUROPEAN DYNAMICS UK LTD (REGISTERED NUMBER: 07306126)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
(Unaudited)
Notes £    £   
CURRENT ASSETS
Debtors 5 4,164,954 3,986,505
Investments 6 91,833 104,960
Cash at bank and in hand 973,837 1,096,498
5,230,624 5,187,963
CREDITORS
Amounts falling due within one year 7 4,041,673 4,258,688
NET CURRENT ASSETS 1,188,951 929,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,188,951

929,275

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,188,851 929,175
SHAREHOLDERS' FUNDS 1,188,951 929,275

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 Profit or Loss and Other Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





V Herry - Director


EUROPEAN DYNAMICS UK LTD (REGISTERED NUMBER: 07306126)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

European Dynamics UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07306126

Registered office: 869 High Road
London
N12 8QA

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the entity after deducting all its financial liabilities.

Basic Financial Instruments

Cash and cash equivalents
Cash and cash equivalents comprises on cash on hand, bank balances and saving deposits that are readily convertible into known amount of cash and which are subject to an insignificant risk of changes in value.

Trade and other debtors
Trade and others debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to the initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instruments.

Trade and other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to the initial recognition, they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Profit or Loss and Other Comprehensive Income, 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.


EUROPEAN DYNAMICS UK LTD (REGISTERED NUMBER: 07306126)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Trade debtors 3,206,528 3,062,818
Other debtors 958,426 923,687
4,164,954 3,986,505

6. CURRENT ASSET INVESTMENTS
2023 2022
(Unaudited)
£    £   
Other investments 91,833 104,960

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Trade creditors 2,071,712 2,870,227
Taxation and social security 93,926 59,227
Other creditors 1,876,035 1,329,234
4,041,673 4,258,688

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

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

The full financial statements from which these pages for filling with the Registrar have been extracted have been
audited by EA (UK) LLP. The audit report was unqualified and signed by T. Vassiliades FCA (Senior Statutory Auditor at EA (UK) LLP).

EUROPEAN DYNAMICS UK LTD (REGISTERED NUMBER: 07306126)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

10. CONTINGENT LIABILITIES

As at 31 December 2023, the company had issued letters of guarantee amounting to £270,793 (31 December 2022: £281,616) in respect of customer projects undertaken, from which it is anticipated that no material liabilities will arise.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. Costantinos Velentzas.