Registered number
09955063
EUROMOS LTD
Filleted Accounts
31 January 2024
EUROMOS LTD
Registered number: 09955063
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 230,970 261,861
Current assets
Stocks 155,849 67,429
Debtors 4 32,568 73,091
Cash at bank and in hand 30,953 53,804
219,370 194,324
Creditors: amounts falling due within one year 5 (168,418) (115,607)
Net current assets 50,952 78,717
Total assets less current liabilities 281,922 340,578
Creditors: amounts falling due after more than one year 6 (33,177) (54,451)
Net assets 248,745 286,127
Capital and reserves
Called up share capital 1 1
Profit and loss account 248,744 286,126
Shareholders' funds 248,745 286,127
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Zulfikar Ali Kaya
Director
Approved by the board on 25 October 2024
EUROMOS LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20 % reducing balance.
Plant and Machinery 20 % reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 273,925 118,583 392,508
Additions 25,605 - 25,605
At 31 January 2024 299,530 118,583 418,113
Depreciation
At 1 February 2023 79,859 50,788 130,647
Charge for the year 42,938 13,558 56,496
At 31 January 2024 122,797 64,346 187,143
Net book value
At 31 January 2024 176,733 54,237 230,970
At 31 January 2023 194,066 67,795 261,861
4 Debtors 2024 2023
£ £
Trade debtors - 36,804
Deferred tax asset 32,568 32,568
Other debtors - 3,719
32,568 73,091
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 52,790 51,570
Taxation and social security costs 26,625 60,806
Other creditors 89,003 3,231
168,418 115,607
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,333 33,333
Obligations under finance lease and hire purchase contracts 9,844 21,118
33,177 54,451
2024 2023
£ £
7 Contingent liabilities
Corporation tax liability if HMRC disallow R&D claim for 2022 - 28,607
8 Related party transactions
Mr Zulfikar Ali Kaya
9 Other information
EUROMOS LTD is a private company limited by shares and incorporated in England. Its registered office is:
78
Stocking Water Lane
Enfield
England
EN3 7RL
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