Company Registration No. 03420894 (England and Wales)
EUROSHIRE LTD
Unaudited accounts
for the year ended 31 December 2024
EUROSHIRE LTD
Unaudited accounts
Contents
EUROSHIRE LTD
Company Information
for the year ended 31 December 2024
Directors
Samuel Lipschitz
Rita Lipschitz
Secretary
Samuel Lipschitz
Company Number
03420894 (England and Wales)
Registered Office
8 MORSBY ROAD
LONDON
E5 9LF
UNITED KINGDOM
EUROSHIRE LTD
Statement of financial position
as at 31 December 2024
Investment property
4,334,959
4,599,055
Cash at bank and in hand
35,711
5,099
Creditors: amounts falling due within one year
(809,318)
(1,902,038)
Net current liabilities
(728,759)
(1,867,250)
Total assets less current liabilities
3,606,910
2,732,752
Creditors: amounts falling due after more than one year
(1,415,616)
(514,803)
Provisions for liabilities
Deferred tax
(300,962)
(300,962)
Net assets
1,890,332
1,916,987
Called up share capital
100
100
Profit and loss account
1,890,232
1,916,887
Shareholders' funds
1,890,332
1,916,987
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by
Samuel Lipschitz
Director
Company Registration No. 03420894
EUROSHIRE LTD
Notes to the Accounts
for the year ended 31 December 2024
EUROSHIRE LTD is a private company, limited by shares, registered in England and Wales, registration number 03420894. The registered office is 8 MORSBY ROAD, LONDON, E5 9LF, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Turnover is recognised at the fair value of rent receivable in the normal course of business
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
EUROSHIRE LTD
Notes to the Accounts
for the year ended 31 December 2024
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
EUROSHIRE LTD
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 January 2024
4,599,055
At 31 December 2024
4,334,959
Investment property is stated as per the directors' valuation undertaken on an open market basis.
Amounts falling due within one year
Trade debtors
12,360
13,865
Amounts due from group undertakings etc.
-
3,960
Accrued income and prepayments
3,064
3,064
Other debtors
29,424
8,800
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
14,495
909,879
Amounts owed to group undertakings and other participating interests
-
220,130
Taxes and social security
-
(9,713)
Other creditors
126,674
70,302
Loans from directors
664,907
705,939
EUROSHIRE LTD
Notes to the Accounts
for the year ended 31 December 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,415,616
514,803
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).