Company Registration No. 04348186 (England and Wales)
Europtima Europe Limited
Unaudited financial statements
for the year ended 31 December 2024
Europtima Europe Limited
Unaudited financial statements
Contents
Europtima Europe Limited
Company Information
for the year ended 31 December 2024
Company Number
04348186 (England and Wales)
Registered Office
38 Morland Road
Harrow
London
HA3 9LU
England
Accountants
PV Mehta & Co Ltd
38 Morland Road
Harrow
London
HA3 9LU
Europtima Europe Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
134,504
40,396
Creditors: amounts falling due within one year
(408,121)
(324,943)
Net current assets
201,385
74,732
Called up share capital
1
1
Profit and loss account
201,384
74,731
Shareholders' funds
201,385
74,732
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 director acknowledges his 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 and authorised for issue on 30 September 2025 and were signed on its behalf by
G Tayoun
Director
Company Registration No. 04348186
Europtima Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
Europtima Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 04348186. The registered office is 38 Morland Road, Harrow, London, HA3 9LU, England.
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Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A and Companies Act 2006, as applicable to companies subject to the small companies’ regime.
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 financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, stated net of discounts and Value Added Tax.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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.
Europtima Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, amounts due from fellow group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Cash and cash equivalents comprise cash balances and call deposits. The cash and cash equivalents are stated at their nominal values, as this approximates to amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors and amounts due to fellow group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from ‘profit before tax’ as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company’s current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Europtima Europe Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
135,123
210,292
Amounts due from group undertakings etc.
339,879
134,218
5
Creditors: amounts falling due within one year
2024
2023
Trade creditors
156,421
72,816
Amounts owed to group undertakings and other participating interests
175,986
174,680
Loans from directors
7,508
59,434
6
Transactions with related parties
At the year end, the company had balances with the following companies held under common control:
Receivable
- Europtima Sp.zoo, Poland - £147,340 (2023: £20,927)
- Champions Developments, Poland - £169,801 (2023: £112,419)
- Europtima International Limited - £872 (2023: £872)
- Medical Facilities Projects SA - £10,194 (2023: £nil)
- GTI Investment - £7,666 (2023: £nil)
Payable:
- Europtima France SARL - £44,107(2023: £42,801)
- Medical Facilities Projects UK Limited - £131,879 (2023: £131,879)
During the year, the director, Mr Gaby Tayoun, advanced an amount of £7,508 to the company. The advance carries no interest and is repayable on demand.
The immediate parent company is GTI Investments Limited, a company incorporated in the United Kingdom whose registered office is 38 Morland Road, Harrow, HA3 9LU.
The ultimate controlling party is G.B. Tayoun, the director of the company.
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Average number of employees
During the year the average number of employees was 1 (2023: 1).