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REGISTERED NUMBER: SC426108 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

EWEN @ EUROPA LIMITED

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EWEN @ EUROPA LIMITED

COMPANY INFORMATION
for the year ended 30 JUNE 2023







DIRECTOR: E W M Duncan





SECRETARY: E W M Duncan





REGISTERED OFFICE: 3 Lerrocks Farm Cottages
Argarty
Doune, Perthshire
United Kingdom
FK16 6ET





REGISTERED NUMBER: SC426108 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,876 5,125

CURRENT ASSETS
Stocks 18,750 15,000
Debtors 5 4,324 6,986
Cash at bank and in hand 35,187 25,908
58,261 47,894
CREDITORS
Amounts falling due within one year 6 (49,401 ) (35,554 )
NET CURRENT ASSETS 8,860 12,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,736

17,465

CREDITORS
Amounts falling due after more than one year 7 (11,712 ) (16,870 )

PROVISIONS FOR LIABILITIES (455 ) -
NET ASSETS 569 595

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 469 495
SHAREHOLDERS' FUNDS 569 595

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 7 October 2024 and were signed by:





E W M Duncan - Director


EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 JUNE 2023

1. STATUTORY INFORMATION

Ewen @ Europa Limited is a private company, limited by shares, registered in Scotland, registration number SC426108. The registered office is 3 Lerrocks Farm Cottages, Argarty, Doune, Perthshire, United Kingdom, FK16 6ET.

The principal activity of the company is that of a music and video retail store.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Sale of goods
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors
Short term trade creditors are measured at the transaction price.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 22,303
DEPRECIATION
At 1 July 2022 17,178
Charge for year 1,249
At 30 June 2023 18,427
NET BOOK VALUE
At 30 June 2023 3,876
At 30 June 2022 5,125

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 668 -
Other debtors 3,656 6,986
4,324 6,986

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,159 2,159
Taxation and social security 42,663 24,025
Other creditors 4,579 9,370
49,401 35,554

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 11,500 14,500
Hire purchase contracts 212 2,370
11,712 16,870

EWEN @ EUROPA LIMITED (REGISTERED NUMBER: SC426108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
E W M Duncan
Balance outstanding at start of year 6,236 (1,849 )
Amounts advanced - 17,085
Amounts repaid (3,330 ) (9,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,906 6,236