REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 27 February 2024 |
for |
Euro China Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 27 February 2024 |
for |
Euro China Ltd |
Euro China Ltd (Registered number: 08918496) |
Contents of the Financial Statements |
for the Period 1 March 2023 to 27 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Euro China Ltd |
Company Information |
for the Period 1 March 2023 to 27 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
30 Norman Road |
London |
SE10 9QX |
Euro China Ltd (Registered number: 08918496) |
Balance Sheet |
27 February 2024 |
27.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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. |
Euro China Ltd (Registered number: 08918496) |
Balance Sheet - continued |
27 February 2024 |
The financial statements were approved by the director and authorised for issue on |
Euro China Ltd (Registered number: 08918496) |
Notes to the Financial Statements |
for the Period 1 March 2023 to 27 February 2024 |
1. | STATUTORY INFORMATION |
Euro China Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
On the basis of long-term financial support from its shareholders, the company will continue |
in operational existence in the foreseeable future. For this reason, the director continues to |
adopt going concern basis to preparing financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - 20% on cost |
Financial instruments |
The company only enter into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors, other debtors, trade creditors, amounts owned to group undertakings, taxation and social security and other creditors. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an as;set's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Euro China Ltd (Registered number: 08918496) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 27 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 period was |
Euro China Ltd (Registered number: 08918496) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 27 February 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
and 27 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for period |
At 27 February 2024 |
NET BOOK VALUE |
At 27 February 2024 |
At 28 February 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
and 27 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for period |
At 27 February 2024 |
NET BOOK VALUE |
At 27 February 2024 |
At 28 February 2023 |
Euro China Ltd (Registered number: 08918496) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 27 February 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.2.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
27.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Other creditors |
8. | OTHER FINANCIAL COMMITMENTS |
As at 28 February 2023, the total of future minimum payments under non-cancellable operating leases is £121,800.00 within one year (2022:£121,800.00); £487,200.00 later than one year and not later than five years (2022:£487,200.00); £669,900.00 over five years from the balance sheet date (2021:£791,700.00). |
Euro China Ltd (Registered number: 08918496) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 27 February 2024 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 27 February 2024 and the year ended 28 February 2023: |
27.2.24 | 28.2.23 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |