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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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EUROPEAN M SYMBOL LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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EUROPEAN M SYMBOL LIMITED |
EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 DECEMBER 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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EUROPEAN M SYMBOL LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 DECEMBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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31/12/17 | 31/12/16 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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SHAREHOLDERS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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BALANCE SHEET - continued |
31 DECEMBER 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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European M Symbol 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for goods provided in the normal course of business, net of discounts, VAT and other sales related |
taxes. |
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Sale of services are recognised when services are delivered and title has passed. |
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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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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is |
a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at |
transaction price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or |
less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction |
price. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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3. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
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Amortisation for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 DECEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2017 |
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165,161 |
Disposals |
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At 31 December 2017 |
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25,591 |
NET BOOK VALUE |
At 31 December 2017 |
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25,591 |
At 31 December 2016 |
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165,161 |
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Cost or valuation at 31 December 2017 is represented by: |
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Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2012 | - | 1,237,569 | 1,237,569 |
Valuation in 2013 | - | (142,927 | ) | (142,927 | ) |
Valuation in 2014 | - | (533,461 | ) | (533,461 | ) |
Valuation in 2015 | - | (218,302 | ) | (218,302 | ) |
Valuation in 2016 | - | (203,309 | ) | (203,309 | ) |
Cost | 25,591 | - | 25,591 |
25,591 | 139,570 | 165,161 |
EUROPEAN M SYMBOL LIMITED (REGISTERED NUMBER: 07814200) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 DECEMBER 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/17 | 31/12/16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/17 | 31/12/16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax | ( |
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Directors' current accounts | 276,580 | 138,365 |
Accrued expenses |
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8. | RELATED PARTY DISCLOSURES |
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During the year there were various intercompany balances as follows; |
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Debtor balances | 2017 | 2016 |
£ | £ |
Matchless motorcycles Limited | 1,642,848 | 1,396,851 |
Matchless London Srl | 7,143 | 7,143 |
Magasins | 1,037,885 | 1,037,885 |
Matchless Group Co | 13,524 | 13,524 |
2,701,400 | 2,455,402 |
Creditor balances |
Manarin | 3,165,407 | 3,165,407 |
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All balances were unsecured, interest free and repayable on demand. |