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Registration number: 04598677

Euro Two Estates Ltd



Filleted Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Euro Two Estates Ltd

 

(Registration number: 04598677)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

5,125,694

5,125,694

Current assets

 

Debtors

5

40,803

40,803

Cash at bank and in hand

 

15,988

6,631

 

56,791

47,434

Creditors: Amounts falling due within one year

6

(88,366)

(87,525)

Net current liabilities

 

(31,575)

(40,091)

Total assets less current liabilities

 

5,094,119

5,085,603

Provisions for liabilities

(968,481)

(968,481)

Net assets

 

4,125,638

4,117,122

Capital and reserves

 

Called up share capital

1,100

1,100

Other reserves

(5,162)

(5,162)

Profit and loss account

(26,523)

(35,039)

Non-distributable reserve

 

4,156,223

4,156,223

Total equity

 

4,125,638

4,117,122


Please note that there was a change of accountants between the 2021 and March 2022 accounts. The 2021 figures were left as prepared by the previous accountants.
However, as those two years of accounts were prepared upon different bases, it is not possible to compare the December 2022 accounting figures with those of March 2022.
In particular, the valuation of the subsidiary company has been prepared on a fair value basis for the 2022 accounts, whereas the valuation for the 2021 accounts was based on property acquisition costs and realised profits only, creating an unusually large revaluation gain in the March 2022 accounts.

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Euro Two Estates Ltd

 

(Registration number: 04598677)
Balance Sheet as at 31 December 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The directors would like to bring to the attention of the investors in Euro Two Estates Ltd that, after analysing the accounting record provided to them by management, the accountants are, at the moment, unable to account for approximately CHF 15,000 to CHF 25,000 of investors’ money. We hope to resolve this matter but, at the moment, this amount remains unaccounted for.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 July 2025 and signed on its behalf by:
 

.........................................
B Perelman
Director

 

Euro Two Estates Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL
England

These financial statements were authorised for issue by the Board on 4 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Euro Two Estates Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investments

2024
£

2023
£

Investments in joint ventures

5,125,694

5,125,694

 

Euro Two Estates Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Joint ventures

£

Cost

At 1 January 2024

5,125,694

The valuation of the joint venture is based on the valuation of the underlying subsidiary, the property valuation of which was provided by the director, based on a yield of 6.75%.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

39,703

39,703

Other debtors

 

1,100

1,100

   

40,803

40,803

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

13,679

12,839

Other creditors

74,687

74,686

88,366

87,525