Registration number:
Euro Two Estates Ltd
for the Year Ended 31 December 2024
Euro Two Estates Ltd
(Registration number: 04598677)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
( |
( |
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Profit and loss account |
( |
( |
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Non-distributable reserve |
4,156,223 |
4,156,223 |
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Total equity |
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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:
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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.
Approved and authorised by the
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Euro Two Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Investments |
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2024 |
2023 |
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Investments in joint ventures |
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Euro Two Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Joint ventures |
£ |
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Cost |
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At 1 January 2024 |
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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%.
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Debtors |
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Current |
Note |
2024 |
2023 |
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Amounts owed by related parties |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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