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Registered number: 08581400









EURO MUNICIPAL (HOLDINGS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
EURO MUNICIPAL (HOLDINGS) LIMITED
REGISTERED NUMBER: 08581400

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
772,416
789,208

Investments
 5 
594,001
594,001

  
1,366,417
1,383,209

Current assets
  

Cash at bank and in hand
  
333
14,991

  
333
14,991

Creditors: amounts falling due within one year
 6 
(495)
(22,151)

Net current liabilities
  
 
 
(162)
 
 
(7,160)

Total assets less current liabilities
  
1,366,255
1,376,049

Creditors: amounts falling due after more than one year
 7 
-
(148,584)

  

Net assets
  
1,366,255
1,227,465


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,366,155
1,227,365

  
1,366,255
1,227,465


Page 1

 
EURO MUNICIPAL (HOLDINGS) LIMITED
REGISTERED NUMBER: 08581400
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 May 2025.




M P Forrester
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
EURO MUNICIPAL (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The company is a private limited company, which is incorporated and registered in England (registration number: 08581400). The address of the registered office is Cromwell House, 68 West Gate, Mansfield, Nottinghamshire, NG18 1RR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

At the date of signing there is a degree of uncertainty about the full economic impact of the cost of living and wider geo-political issues.  The directors continue to monitor the position closely, however they believe that the company can continue, therefore they continue to adopt the going concern basis.

 
2.3

Revenue

Revenue represents rent received from the letting of property.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
EURO MUNICIPAL (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line basis

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
EURO MUNICIPAL (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 September 2023
839,584



At 31 August 2024

839,584



Depreciation


At 1 September 2023
50,376


Charge for the year on owned assets
16,792



At 31 August 2024

67,168



Net book value



At 31 August 2024
772,416



At 31 August 2023
789,208


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2023
594,001



At 31 August 2024
594,001




Page 5

 
EURO MUNICIPAL (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
21,936

Trade creditors
3
-

Corporation tax
177
-

Other creditors
315
215

495
22,151


The following liabilities were secured:

2024
2023
£
£



Bank loan
-
21,936

-
21,936

Details of security provided:

The loan is secured on the company's land and buildings.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
148,584

-
148,584


The following liabilities were secured:

2024
2023
£
£



Bank loans
-
148,584

-
148,584

Details of security provided:

The loan is secured on the company's land and buildings.

Page 6

 
EURO MUNICIPAL (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
21,936


-
21,936

Amounts falling due 1-2 years

Bank loans
-
21,936


-
21,936

Amounts falling due 2-5 years

Bank loans
-
65,808


-
65,808

Amounts falling due after more than 5 years

Bank loans
-
60,840

-
60,840

-
170,520



9.


Related party transactions

Dividends totalling £63,600 (2023: £73,300) were paid to the directors during the period and dividends totalling £218,652 (2023: £162,139) were received from Euro Municipal Limited, this company's subsidiary.

The company is exempt from preparing consolidated accounts as it is part of a small group.

 
Page 7