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REGISTERED NUMBER: 06987103 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Eurovine IT Ltd

Eurovine IT Ltd (Registered number: 06987103)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eurovine IT Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D L Whelan
Ms P M Whelan





REGISTERED OFFICE: 88 Boundary Road
Hove
East Sussex
BN3 7GA





REGISTERED NUMBER: 06987103 (England and Wales)





ACCOUNTANTS: Clamp Boxall Ltd
88 Boundary Road
Hove
East Sussex
BN3 7GA

Eurovine IT Ltd (Registered number: 06987103)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 99,237 100,781

CURRENT ASSETS
Debtors 5 589,380 705,285
Prepayments and accrued income 540 648
Cash at bank 270,624 359,867
860,544 1,065,800
CREDITORS
Amounts falling due within one year 6 1,204 105,409
NET CURRENT ASSETS 859,340 960,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

958,577

1,061,172

ACCRUALS AND DEFERRED INCOME 15,867 22,993
NET ASSETS 942,710 1,038,179

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 940,710 1,036,179
942,710 1,038,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Eurovine IT Ltd (Registered number: 06987103)

Balance Sheet - continued
29 February 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:




D L Whelan - Director



Ms P M Whelan - Director


Eurovine IT Ltd (Registered number: 06987103)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Eurovine IT Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 fair value of the consideration received or receivable, excluding discounts where applicable, rebates, and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over period of lease
Plant and machinery etc - 33% on cost and in accordance with the property

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and other investments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.

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.

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 2 (2023 - 2 ) .

Eurovine IT Ltd (Registered number: 06987103)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 90,839 36,998 127,837
Additions - 1,057 1,057
Disposals - (20,612 ) (20,612 )
At 29 February 2024 90,839 17,443 108,282
DEPRECIATION
At 1 March 2023 473 26,583 27,056
Charge for year 90 2,380 2,470
Eliminated on disposal - (20,481 ) (20,481 )
At 29 February 2024 563 8,482 9,045
NET BOOK VALUE
At 29 February 2024 90,276 8,961 99,237
At 28 February 2023 90,366 10,415 100,781

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 33,928 118,402
Amounts recoverable on contract 15,305 44,610
Other debtors 540,147 542,273
589,380 705,285

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 941 24,390
Taxation and social security 263 81,019
1,204 105,409

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 29 February 2024 and the period ended 28 February 2023:

29.2.24 28.2.23
£    £   
D L Whelan and Ms P M Whelan
Balance outstanding at start of year 18,183 18,289
Amounts advanced 90,688 190,502
Amounts repaid (90,840 ) (190,608 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,031 18,183

Eurovine IT Ltd (Registered number: 06987103)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest has been charged on the overdrawn Directors loan account at the rate of 2% for the relevant periods.