Eurotop Fixing Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 07544498 (England and Wales)
Eurotop Fixing Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Eurotop Fixing Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
67,123
15,754
Current assets
Debtors
4
4,921,770
4,308,521
Cash at bank and in hand
2,280,536
2,150,593
7,202,306
6,459,114
Creditors: amounts falling due within one year
5
(1,054,603)
(869,844)
Net current assets
6,147,703
5,589,270
Total assets less current liabilities
6,214,826
5,605,024
Provisions for liabilities
(16,809)
(2,993)
Net assets
6,198,017
5,602,031
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
6,198,015
5,602,029
Total equity
6,198,017
5,602,031
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Eurotop Fixing Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 18 October 2024
Mr M Hirtan
Director
Company Registration No. 07544498
Eurotop Fixing Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information
Eurotop Fixing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.true
The company has a strong cash and reserves position at the time of approval of these financial statements. Having made enquiries, the Directors have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
1.3
Turnover
Turnover represents amounts receivable for services provided, net of VAT to which the company has a contractual right to income. Retentions are recognised within turnover on an accruals basis with the remaining adjustments made to reflect the expected amounts withheld. This is due to the conditions and contingencies surrounding the payments of retentions.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Fixed asset investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
1.7
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
Eurotop Fixing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
Eurotop Fixing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
70,424
Additions
70,016
Disposals
(1,464)
At 31 March 2024
138,976
Depreciation and impairment
At 1 April 2023
54,670
Depreciation charged in the year
18,277
Eliminated in respect of disposals
(1,094)
At 31 March 2024
71,853
Carrying amount
At 31 March 2024
67,123
At 31 March 2023
15,754
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,087,275
877,259
Other debtors
3,809,251
3,431,262
Prepayments and accrued income
25,244
4,921,770
4,308,521
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
84,234
53,917
Corporation tax
327,104
414,145
Other taxation and social security
101
Other creditors
643,265
401,681
1,054,603
869,844
Eurotop Fixing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions
At the year end, included in other debtors is £2,416,597 (2023: £1,816,597) due from Eurotop Investment Limited, a company 100% owned by Mr M Hirtan.