REGISTERED NUMBER: |
Spain Investment Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
Spain Investment Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
Spain Investment Limited (Registered number: 04845533) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Spain Investment Limited |
Company Information |
for the year ended 31 July 2024 |
Director: |
Registered office: |
Registered number: |
Spain Investment Limited (Registered number: 04845533) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | € | € | € | € |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Spain Investment Limited (Registered number: 04845533) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Spain Investment Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Going concern |
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future as it is funded by loans from the director and he has no current intention to require repayment. For this reason, he continues to adopt the going concern basis in preparing the financial statements. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
Financial assets - classified as basic financial instruments |
(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
(ii) Trade and other receivables. |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
3. | Employees and directors |
The average number of employees during the year was |
Spain Investment Limited (Registered number: 04845533) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
4. | Tangible fixed assets |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
€ | € | € |
Cost |
At 1 August 2023 |
Disposals | ( |
) | ( |
) |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
€ | € |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
€ | € |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 20,411,828 | 19,956,828 |
Accruals and deferred income |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | € | € |
Ordinary | £1 | 1,500 | 1,500 |
8. | Reserves |
Retained |
earnings |
€ |
At 1 August 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 July 2024 | ( |
) |
9. | Director's advances, credits and guarantees |
During the year M. Jean-Charles Decaux. the director of the company, provided the company with €455,000 (2023: €545,000) of funds to enable it to meet its liabilities as they fell due. At the balance sheet date he was owed €20,411,828 (2023 - €19,956,828), there are no fixed terms for repayment and the loans are interest free. |
Spain Investment Limited (Registered number: 04845533) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
10. | Ultimate controlling party |
The ultimate controlling party is |
M. Jean-Charles Decaux has confirmed that he will provide continuing support for the company for the foreseeable future. |