Registration number:
Intermay Management Ltd
for the Year Ended 31 May 2019
Intermay Management Ltd
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Intermay Management Ltd
(Registration number: 04445610)
Balance Sheet as at 31 May 2019
Note |
2019 |
2018 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Share premium reserve |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
|
|
For the financial year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Page 1 |
Intermay Management Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
As at 1 June 2018 the company's functional currency changed from US Dollars ($) to Euros (€) and rounded to the nearest €1. The change was made to reflect that Euro has become the predominant currency in the company in the primary economic environment it operates in.
The change in the functional currency has been implemented with prospective effect.
In addition as at 1 June 2018 the company's presentation currency changed from US Dollars ($) to Euros (€). This change of presentation currency is applied retrospectively for comparative figures for the year ended 31 May 2018. Currency translation effects for the comparative figures are shown as translation differences within reserves. Consequently comparison figures have been restated in the profit and loss account at the average exchange rate for that year and the balance sheet figures have been translated at the year end rate.
Exemption from preparing group accounts
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Page 2 |
Intermay Management Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
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.
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.
Trade debtors
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Trade creditors
Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investments |
2019 |
2018 |
|
Investments in associates |
|
|
Page 3 |
Intermay Management Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
Associates |
€ |
Cost |
|
At 1 June 2018 |
|
Provision |
|
At 1 June 2018 |
|
Provision |
|
At 31 May 2019 |
|
Carrying amount |
|
At 31 May 2019 |
|
At 31 May 2018 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2019 |
2018 |
Associates |
||||
|
Ukraine |
Ordinary |
|
|
The principal activity of UKRCapital is |
Debtors |
2019 |
2018 |
||
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
|
Page 4 |
Intermay Management Ltd
Notes to the Financial Statements for the Year Ended 31 May 2019
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
|
Due within one year |
||
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
|||
No. |
€ |
No. |
€ |
|
|
|
170.00 |
|
170.00 |
|
|
1,413.00 |
|
1,413.00 |
|
|
|
|
Prior year adjustment |
Change of functional and presentation currency
At 1 June 2018 the company's presentation currency changed from US Dollars ($) to Euros (€).
This change of presentation currency is applied retrospectively for comparative figures for the year ended 31 May 2018. Currency translation effects for the comparative figures are shown as translation differences within reserves. Consequently comparison figures have been restated in the profit and loss acount at the average exchange rate for that year and the balance sheet figures have been translated at the year end rate.
Page 5 |