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EDIROL EUROPE LIMITEDLiquidated

Eupener Straße 74, 50933 Köln, DEU

Master Data

Registry
Register court Köln HRB 56967
Registered
1/18/2006
Industry
Wholesale of audio and video equipmentRetail sale of audio and video equipmentAgents involved in the sale of audio and video equipment
Purpose
Gegenstand der Zweigniederlassung ist der Verkauf und die Vermarktung der Produkte der EDIROL EUROPE LIMITED auf dem deutschen und dem österreichischen Markt. Bei diesen Produkten handelt es sich um multimediale Anwenderprodukte für Desktop Media Produktionen, insbesondere in den Bereichen Video- und Audiobearbeitung, Audio-Produktion, Musikaufnahme sowie Video- und Audiopräsentation.

History

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Management

NameRole
Ikutaro Kakehashi
since 1/18/2006
Director
John Booth
since 1/18/2006
Director
Katsuyoshi Dan
since 1/18/2006
Director
Massimo Barbini
since 1/18/2006
Liquidator

Financial Report

Edirol Europe Limited

Köln

Jahresabschluss zum 31. Dezember 2006

BALANCE SHEET 31. December 2006

Note £ 2006
£		 £ 2005
£
FIXED ASSETS
Tangible assets 8 59.458 57.338
CURRENT ASSETS
Stocks 9 1.148.001 1.800.003
Debtors 10 1.235.570 1.442.805
Cash at bank and in hand 836.599 561.627
3.220.170 3.804.435
CREDITORS: amounts falling due within one year 11 (1.846.456) (2.676.061)
NET CURRENT ASSETS 1.373.684 1.128.374
CREDITORS: amounts falling due after more than one year 12 (425.000) (415.000)
NET ASSETS 1.008.142 770.712
CAPITAL AND RESERVES
Called up share capital 14 1.500.000 1.500.000
Profit and loss account 15 (491.858) (729.288)
TOTAL SHAREHOLDERS' FUNDS 15 1.008.142 770.712

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2006

ACCOUNTING POLICIES

The financial statements are prepared in accordance with applicable United Kingdom accounting standards. The particular accounting policies adopted, which have been applied consistently throughout the current and the prior financial year, are described below.

Accounting convention

The financial statements are prepared under the historical cost convention.

Cash flow statement

Under Financial Reporting Standard 1, the company is not required to prepare a cash flow statement as a group cash flow statement has been included in the financial statements of its ultimate parent company.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Office equipment - 4 years
Motor vehicles - 4 years

Stocks

Stocks are valued at the lower of cost and net realisable value.

Pensions

The company operates a defined contribution pension scheme. Contributions under the scheme are charged to the profit and loss account as incurred.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred taxation is provided in full on timing differences that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction or at the forward contract rate. These translation differences are dealt with in the profit and loss account.

Derivative financial instruments

The company uses derivative financial instruments to manage its exposure to foreign exchange risk. The company does not hold or issue derivative financial instruments for speculative purposes. Gains and losses arising on these contracts are deferred and recognised in the profit and loss account only when gains and losses associated with the hedged transaction have themselves been reflected in the company's financial statements.

Leases

Rentals payable under operating lease are charged against income on a straight-line basis over the lease term.

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Commercial Register Documents

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