2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 600,000 400,000 1,000,000 1,000,000 600,000 xbrli:pure xbrli:shares iso4217:GBP 10381522 2023-10-01 2024-09-30 10381522 2024-09-30 10381522 2023-09-30 10381522 2022-10-01 2023-09-30 10381522 2023-09-30 10381522 2022-09-30 10381522 core:MotorVehicles 2023-10-01 2024-09-30 10381522 bus:Director1 2023-10-01 2024-09-30 10381522 core:MotorVehicles 2024-09-30 10381522 core:WithinOneYear 2024-09-30 10381522 core:WithinOneYear 2023-09-30 10381522 core:AfterOneYear 2024-09-30 10381522 core:ShareCapital 2024-09-30 10381522 core:ShareCapital 2023-09-30 10381522 core:RetainedEarningsAccumulatedLosses 2024-09-30 10381522 core:RetainedEarningsAccumulatedLosses 2023-09-30 10381522 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 10381522 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-09-30 10381522 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 10381522 core:Non-currentFinancialInstruments 2024-09-30 10381522 core:Non-currentFinancialInstruments 2023-09-30 10381522 bus:SmallEntities 2023-10-01 2024-09-30 10381522 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10381522 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10381522 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10381522 bus:FullAccounts 2023-10-01 2024-09-30 10381522 core:OfficeEquipment 2023-10-01 2024-09-30 10381522 core:OfficeEquipment 2023-09-30 10381522 core:OfficeEquipment 2024-09-30 10381522 core:KeyManagementPersonnel 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 10381522
Euro Property 1 Limited
Filleted Unaudited Financial Statements
30 September 2024
Euro Property 1 Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Euro Property 1 Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
46,553
117
Investments
6
1,000,000
600,000
------------
---------
1,046,553
600,117
Current assets
Debtors
7
66,006
369,669
Cash at bank and in hand
24,976
153,210
--------
---------
90,982
522,879
Creditors: amounts falling due within one year
8
59,455
65,255
--------
---------
Net current assets
31,527
457,624
------------
------------
Total assets less current liabilities
1,078,080
1,057,741
Creditors: amounts falling due after more than one year
9
37,674
------------
------------
Net assets
1,040,406
1,057,741
------------
------------
Capital and reserves
Called up share capital
436,000
436,000
Profit and loss account
604,406
621,741
------------
------------
Shareholders funds
1,040,406
1,057,741
------------
------------
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 30 September 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Euro Property 1 Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
Mr A Pawle
Director
Company registration number: 10381522
Euro Property 1 Limited
Notes to the Financial Statements
Year ended 30 September 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
20% straight line
Impairment of fixed assets
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 October 2023
654
654
Additions
61,993
61,993
--------
----
--------
At 30 September 2024
61,993
654
62,647
--------
----
--------
Depreciation
At 1 October 2023
537
537
Charge for the year
15,498
59
15,557
--------
----
--------
At 30 September 2024
15,498
596
16,094
--------
----
--------
Carrying amount
At 30 September 2024
46,495
58
46,553
--------
----
--------
At 30 September 2023
117
117
--------
----
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 October 2023
600,000
Additions
400,000
------------
At 30 September 2024
1,000,000
------------
Impairment
At 1 October 2023 and 30 September 2024
------------
Carrying amount
At 30 September 2024
1,000,000
------------
At 30 September 2023
600,000
------------
7. Debtors
2024
2023
£
£
Trade debtors
19,922
13,585
Other debtors
46,084
356,084
--------
---------
66,006
369,669
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,342
635
Amounts owed to group undertakings and undertakings in which the company has a participating interest
9,999
Corporation tax
6,938
9,360
Social security and other taxes
2,933
1,152
Other creditors
38,243
54,108
--------
--------
59,455
65,255
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
37,674
--------
----
10. Related party transactions
At the year end, the company owed a director £33,185 (2023: £52,608).