Registered Number 08344962
EUROPE PROPERTIES LIMITED
Abbreviated Accounts
31 January 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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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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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 |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover policy
customers and work carried out in respect of services provided to customers.
Tangible assets depreciation policy
estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Valuation information and policy
Other accounting policies
Full provision is made for deferred taxation resulting from timing differences between the
recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred
taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the
periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of
exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where
substantially all the risks and rewards of ownership of the asset have passed to the company, are
capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease
or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the
period of the lease and represents a constant proportion of the balance of capital repayments
outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease
term.
£ | |
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Cost | |
At 1 February 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
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Transfers |
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At 31 January 2016 |
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Depreciation | |
At 1 February 2015 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 798,866 |
At 31 January 2015 | 798,866 |
3
Fixed assets Investments