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REGISTERED NUMBER:
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Report of the Directors and |
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Audited Financial Statements for the Year Ended 31 March 2019 |
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Euro Exim Bank Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Audited Financial Statements for the Year Ended 31 March 2019 |
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for |
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Euro Exim Bank Limited |
Euro Exim Bank Limited (Registered number: 07520196) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Report of the Directors | 2 | to | 3 |
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Statement of Financial Position | 4 |
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Notes to the Financial Statements | 5 | to | 8 |
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Euro Exim Bank Limited |
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Company Information |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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INDEPENDENT AUDITORS : |
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Chartered Accountants & Statutory Auditors |
1 Beauchamp Court |
10 Victors Way |
Barnet |
Hertfordshire |
EN5 5TZ |
Euro Exim Bank Limited (Registered number: 07520196) |
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Report of the Directors |
FOR THE YEAR ENDED 31 MARCH 2019 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of financial intermediation. |
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DIRECTOR |
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Other changes in directors holding office are as follows: |
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The beneficial interest of the director holding office at 31 March 2019 in the shares of the company, according to the |
register of directors' interests, was as follows: |
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31.3.19 | 1.4.18 |
Ordinary shares of £1 each | 322,092 | 322,092 |
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He did not hold any non-beneficial interests in the shares of the company. |
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POLITICAL DONATIONS AND EXPENDITURE |
The Company made neither political donations nor incurred any political expenditure during the year. |
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The charitable donations made during the year was £6,802 and it was toward support of children with Down’s |
syndrome. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The director is responsible for preparing the director's report and the financial statements in |
accordance with applicable law and regulations. Company law requires the director to prepare financial statements for |
each financial year. Under that law the director has prepared the financial statements in accordance with United |
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under |
company law the director must not approve the financial statements unless he is satisfied that they give a true and fair |
view of the state of affairs of the company and of the profit or loss of the company for that period. |
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In preparing these financial statements, the director is required to: |
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-select suitable accounting policies and then apply them consistently; |
-make judgements and accounting estimates that are reasonable and prudent; |
-state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed |
and explained in the financial statements; |
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will |
continue in business. |
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The director is responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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The director is responsible for the maintenance and integrity of the corporate and financial information included on the |
company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial |
statements may differ from legislation in other jurisdictions. |
Euro Exim Bank Limited (Registered number: 07520196) |
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Report of the Directors |
FOR THE YEAR ENDED 31 MARCH 2019 |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken |
as a director in order to make himself aware of any relevant audit information and to establish that the company's |
auditors are aware of that information. |
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AUDITORS |
Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and BBK Partnership |
will therefore continue in office. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Euro Exim Bank Limited (Registered number: 07520196) |
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Statement of Financial Position |
31 MARCH 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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714,566 | 690,451 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Euro Exim Bank Limited (Registered number: 07520196) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Euro Exim Bank Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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The net value is depreciated over its useful economical value at the rate of 10% on straight line. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Euro Exim Bank Limited (Registered number: 07520196) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Director and shareholder loans |
Loans provided by or to the directors or shareholders considered to be a neutral person will be measured at |
transaction price. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Amortisation for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Euro Exim Bank Limited (Registered number: 07520196) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 350,100 | 350,100 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2018 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2019 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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Euro Exim Bank Limited (Registered number: 07520196) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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11. | RELATED PARTY DISCLOSURES |
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During the period the company had transactions with EEB Consultants Limited registered in England amounting |
to receivables of £91,258 (2018: £263,490), in which a key management personnel has a controlling interest. |
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During the period the company had transactions with Premium Brands Distributors Limited registered in England |
amounting to receivables of £20,000 (2018: nil), in which a key management personnel has a controlling |
interest. |
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During the period the company had transactions with Century Holdings Limited registered in UAE amounting to |
receivables of £258,475 (2018: nil), in which a key management personnel has a controlling interest. |
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During the period the company facilitated a loan amounting to £130,941 (2018: nil) to Euro Exim Bank Limited |
registered in St Lucia, in which a key management personnel has a controlling interest. The loan is to be repaid |
to the company on demand and the rate on interest charged on the loan is 0%. |
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During the period the company had transactions with Euro Exim Bank Limited registered in St Lucia amounting |
to payables of £178,936 (2018: £9,465), in which a key management personnel has a controlling interest. |