0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-30 Sage Accounts Production Advanced 2023 - FRS102_2023 9,610,739 204,629 9,406,110 9,406,110 9,610,739 xbrli:pure xbrli:shares iso4217:GBP 03395200 2023-06-30 2024-06-29 03395200 2024-06-29 03395200 2023-06-29 03395200 2022-06-30 2023-06-29 03395200 2023-06-29 03395200 2022-06-29 03395200 bus:Director3 2023-06-30 2024-06-29 03395200 core:WithinOneYear 2024-06-29 03395200 core:WithinOneYear 2023-06-29 03395200 core:ShareCapital 2024-06-29 03395200 core:ShareCapital 2023-06-29 03395200 core:RetainedEarningsAccumulatedLosses 2024-06-29 03395200 core:RetainedEarningsAccumulatedLosses 2023-06-29 03395200 core:CostValuation core:Non-currentFinancialInstruments 2023-06-29 03395200 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-29 03395200 core:CostValuation core:Non-currentFinancialInstruments 2024-06-29 03395200 core:Non-currentFinancialInstruments 2024-06-29 03395200 core:Non-currentFinancialInstruments 2023-06-29 03395200 bus:SmallEntities 2023-06-30 2024-06-29 03395200 bus:AuditExemptWithAccountantsReport 2023-06-30 2024-06-29 03395200 bus:SmallCompaniesRegimeForAccounts 2023-06-30 2024-06-29 03395200 bus:PrivateLimitedCompanyLtd 2023-06-30 2024-06-29 03395200 bus:FullAccounts 2023-06-30 2024-06-29
COMPANY REGISTRATION NUMBER: 03395200
Eurocrest Investments Limited
Filleted Unaudited Financial Statements
For the year ended
29 June 2024
Eurocrest Investments Limited
Statement of Financial Position
29 June 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
9,406,110
9,610,739
Current assets
Cash at bank and in hand
6,500
6,988
Creditors: amounts falling due within one year
5
4,587,973
4,791,846
------------
------------
Net current liabilities
4,581,473
4,784,858
------------
------------
Total assets less current liabilities
4,824,637
4,825,881
------------
------------
Capital and reserves
Called up share capital
4,934,390
4,934,390
Profit and loss account
( 109,753)
( 108,509)
------------
------------
Shareholders funds
4,824,637
4,825,881
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
Z Michalová
Director
Company registration number: 03395200
Eurocrest Investments Limited
Notes to the Financial Statements
Year ended 29 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investments
Shares in participating interests
£
Cost
At 30 June 2023
9,610,739
Revaluations
( 204,629)
------------
At 29 June 2024
9,406,110
------------
Impairment
At 30 June 2023 and 29 June 2024
------------
Carrying amount
At 29 June 2024
9,406,110
------------
At 29 June 2023
9,610,739
------------
The company owns 50% of the issued share capital of the companies listed below, all of which are registered in Spain, with the exception of Infiniti Resort Hotels Ebeso and Berger Group Hotel SL. All companies financial year end is 31 December 2022 and are all hotel operators. Infiniti Resort Hotels Ebeso is registered in the Dominican Republic, and is owned 50% by Hotel Java Resort SL and 50% by Hotel Nautico Ebeso Resort SL. Berger Group Hotel SL is registered in Spain, and is owned 50% by Hotel Tonga Resort SL and Club Hotel Portinatx Resort SA.
Aggregate capital and reserves
2024 2023
Euro Euro
Framotel SA 16,050,181 13,937,650
Club Hotel Portinatx Resort SA 4,677,973 3,873,963
Hotel Caballero Resort SL 14,219,517 11,637,226
Hotel Java Resort SL 6,834,955 5,178,562
Hotel Tonga Resort SL 6,054,157 5,571,907
Hotel Nautico Ebeso Resort SL 15,805,083 13,894,681
Berger Group Hotel SL 342,159 24,568
DOM DOM
Infiniti Resort Hotels Ebeso 1,545,163,066 1,996,049,723
Profit and (loss) for the year
2024 2023
Euro Euro
Framotel SA 2,112,531 1,702,285
Club Hotel Portinatx Resort SA 804,009 330,634
Hotel Caballero Resort SL 2,082,291 1,826,960
Hotel Java Resort SL 651,910 -5,284,655
Hotel Tonga Resort SL 482,249 430,459
Hotel Nautico Ebeso Resort SL 685,211 1,225,189
Berger Group Hotel SL 317,705 252,568
DOM DOM
Infiniti Resort Hotels Ebeso -447,041,312 -242,346,830
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
4,587,973
4,791,846
------------
------------
6. Controlling party
The company is a wholly owned subsidiary of Ozinvest Establishment, a company registered in Lichtenstein.