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REGISTERED NUMBER: 01576945 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Euro Energy Resources Limited

Euro Energy Resources Limited (Registered number: 01576945)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Euro Energy Resources Limited (Registered number: 01576945)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,048 23,594

CURRENT ASSETS
Stocks 5 330,726 378,528
Debtors 6 282,361 277,415
Cash at bank and in hand 2,308,886 1,194,633
2,921,973 1,850,576
CREDITORS
Amounts falling due within one year 7 1,273,199 336,122
NET CURRENT ASSETS 1,648,774 1,514,454
TOTAL ASSETS LESS CURRENT LIABILITIES 1,668,822 1,538,048

PROVISIONS FOR LIABILITIES 4,777 4,265
NET ASSETS 1,664,045 1,533,783

CAPITAL AND RESERVES
Called up share capital 129 129
Capital redemption reserve 171 171
Other reserves 16,250 16,250
Retained earnings 1,647,495 1,517,233
SHAREHOLDERS' FUNDS 1,664,045 1,533,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





M Batchelor - Director


Euro Energy Resources Limited (Registered number: 01576945)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Euro Energy Resources Limited 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: 01576945

Registered office: Unit 10
Barrington Business Park
Leycroft Road
Beaumont Leys
Leicestershire
LE4 1ET

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


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.

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

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 15% on reducing balance
Mouldings - 25% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Euro Energy Resources Limited (Registered number: 01576945)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Office Plant and
Equipment Mouldings machinery
£    £    £   
COST
At 1 February 2023
and 31 January 2024 14,279 18,708 118,193
DEPRECIATION
At 1 February 2023 13,986 18,648 114,548
Charge for year 44 15 547
At 31 January 2024 14,030 18,663 115,095
NET BOOK VALUE
At 31 January 2024 249 45 3,098
At 31 January 2023 293 60 3,645

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 23,806 102,427 277,413
DEPRECIATION
At 1 February 2023 23,475 83,162 253,819
Charge for year 50 2,890 3,546
At 31 January 2024 23,525 86,052 257,365
NET BOOK VALUE
At 31 January 2024 281 16,375 20,048
At 31 January 2023 331 19,265 23,594

5. STOCKS
2024 2023
£    £   
Stocks 330,726 378,528

Euro Energy Resources Limited (Registered number: 01576945)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 254,411 237,835
Other debtors 27,950 39,580
282,361 277,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 174,552 227,998
Taxation and social security 94,334 103,813
Other creditors 1,004,313 4,311
1,273,199 336,122

8. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £6,753 (2023 £2,310). This financial commitment represents the total amount of payments remaining on a lease ending in 2028.