EUROC Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 8

EUROC Limited

(Registration number: 11687730)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1,536	2,047
Tangible assets	5	155	495
Investments	6	100	-
		1,791	2,542
Current assets
Debtors	7	4,129	4,423
Cash at bank and in hand		95,577	97,575
		99,706	101,998
Creditors: Amounts falling due within one year	8	(5,749)	(4,715)
Net current assets		93,957	97,283
Net assets		95,748	99,825
Reserves
Profit and loss account		95,748	99,825
Surplus		95,748	99,825

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 4 August 2026 and signed on its behalf by:
 

Mr F Johnston Director

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Timberly
South Street
Axminster
Devon
EX13 5AD

Principal activity

The principal activity of the company is to represent timeshare owners' committees in Europe with the aim of being the voice of the Home Owners Associations in Europe.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 5 August 2026 was Stuart Carrington FCA, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Fixtures and fittings	Straight line over 3 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks	10% straight line

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 at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

4	Intangible assets

	Trademarks  £	Total £
Cost or valuation
At 1 January 2025	5,117	5,117
At 31 December 2025	5,117	5,117
Amortisation
At 1 January 2025	3,070	3,070
Amortisation charge	511	511
At 31 December 2025	3,581	3,581
Carrying amount
At 31 December 2025	1,536	1,536
At 31 December 2024	2,047	2,047

5	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 January 2025	3,108	3,108
Additions	233	233
At 31 December 2025	3,341	3,341
Depreciation
At 1 January 2025	2,613	2,613
Charge for the year	573	573
At 31 December 2025	3,186	3,186
Carrying amount
At 31 December 2025	155	155
At 31 December 2024	495	495

EUROC Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

6	Investments

	2025 £	2024 £
Investments in subsidiaries	100	-