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Registration number: 09521761

Eurofast Services UK/EU Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Eurofast Services UK/EU Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Eurofast Services UK/EU Ltd

Company Information

Director

Mr Fabricio Alves Salazar

Registered office

Unit 3
United House
11 Tariff Road
London
N17 0DY

Accountants

Loyal Accountancy Ltd Suite 2.04
Oxford House
49 Oxford Road
London
N4 3EY

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Eurofast Services UK/EU Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eurofast Services UK/EU Ltd for the year ended 30 April 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Eurofast Services UK/EU Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Eurofast Services UK/EU Ltd and state those matters that we have agreed to state to the Board of Directors of Eurofast Services UK/EU Ltd.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eurofast Services UK/EU Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eurofast Services UK/EU Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Eurofast Services UK/EU Ltd. You consider that Eurofast Services UK/EU Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Eurofast Services UK/EU Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Loyal Accountancy Ltd
Suite 2.04
Oxford House
49 Oxford Road
London
N4 3EY

28 January 2025

 

Eurofast Services UK/EU Ltd

(Registration number: 09521761)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

15,429

20,416

Current assets

 

Debtors

4

9,546

8,983

Cash at bank and in hand

 

-

3

 

9,546

8,986

Creditors: Amounts falling due within one year

5

(83,293)

(83,593)

Net current liabilities

 

(73,747)

(74,607)

Total assets less current liabilities

 

(58,318)

(54,191)

Creditors: Amounts falling due after more than one year

5

(14,166)

(7,213)

Net liabilities

 

(72,484)

(61,404)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(72,584)

(61,504)

Shareholders' deficit

 

(72,484)

(61,404)

 

Eurofast Services UK/EU Ltd

(Registration number: 09521761)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr Fabricio Alves Salazar
Director

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

2,249

35,500

37,749

At 30 April 2024

2,249

35,500

37,749

Depreciation

At 1 May 2023

1,075

16,258

17,333

Charge for the year

176

4,811

4,987

At 30 April 2024

1,251

21,069

22,320

Carrying amount

At 30 April 2024

998

14,431

15,429

At 30 April 2023

1,174

19,242

20,416

4

Debtors

Current

2024
£

2023
£

Trade debtors

5,010

4,447

Prepayments

4,536

4,536

 

9,546

8,983

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

7,129

5,085

Trade creditors

 

867

725

Taxation and social security

 

1,926

4,037

Other creditors

 

73,371

73,746

 

83,293

83,593

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

14,166

7,213

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,166

7,213

 

Eurofast Services UK/EU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

7,129

5,085