Registered Number 04067278
EURO-CARGO LIMITED
Abbreviated Accounts
30 June 2015
Notes | 2015 | 2014 | |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The company incurred a loss of £1,709 (2014 : £1,670) during the year ended 30th June 2014 and at that date its net current liabilities exceed its net current assets by £4,523 (2014 : £4,094).
The company meets its day to day working capital requirements from interest-free loans from their immediate parent company, Continental Assets Limited and its ultimate parent company, Morita Investment Holding Limited and its related company A E Properties Limited. At the balance sheet date, the total amount owed to these companies were £654,725 (2014 : £653,445). They have confirmed that the amounts owed will continue to be made available until such time as the company is able to repay them.
On this basis, the director consider it appropriate to prepare the accounts on a going concern basis.
1.2 Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with the Financial reporting Standard for Smaller Entities (effective April 2008).
1.3 Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Other accounting policies
The company is controlled by its immediate parent undertaking, Continental Assets Limited, a company registered in England and Wales.
The ultimate parent company is Morita Investment Holding Limited, a company registered in British Virgin Islands.