EUROPEAN SPEED-FIT LTD. NL Deutschland

Berlin

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/12/2010

EUROPEAN SPEED-FIT LTD, GB

ABBREVIATED BALANCE SHEET AS AT 31/12/2010

	Notes	2010		2009
	1	£	£	£	£
Called up share capital not paid		0,00		0,00
Fixed Assets
Investments		196.748,58		90.714,74
Intangible fixed assets	2	5.532,79		2.566,88
Tangible fixed assets	2	152.339,08		159.304,50
Total fixed assets		354.620,45		252.586,12
Current Assets
Stocks		6.376,33		15.844,11
Debtors		303.966,81		169.581,93
Cash at bank and in hand		36.790,25		146.746,32
Raw and operating materials		0,00		0,00
Other current assets		0,00		0 00
		347.133,40		332.172,36
Prepayment and agrued Income		376,79		1.221,69
Creditors amounts falling due
within one year		-190.576,27		-121.039,69
Net Current Assets		156.933 92		212.354,36
Total Assets less Current Liabilities			511.554,37		464.940,47
Creditors amounts falling due after more than one year		-62.299,95		-110.184,38
Provisions for liabilities and charges		-55.859,95		-126.094,84
Accruals and deferred income		0,00		0,00
NET ASSETS			393.394,47		228.661,25
Capital and Reserves
Called up share Capital	3	1,00		1,00
Other reserves		0,27		2.817 67
Retained profits previous year	4	186.986,99		0 00
Loss previous year brought forward		0 00		0,00
Profit and lass Account		206.406,21		225.842,58
SHAREHOLDERS' FUNDS			393.394,47		228.661,25

For the year ending 31/12/2010 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476

The directors acknowledge their responsibilities for

(i)	(1) complying with the requirements of the Act with respect to accounting records and the preparation of accounts
(ii)	(ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end

of the financial year and of its profit and loss for the year, and which otherwise comply with the requirements of this Act relating to accounts, so far as applicable to the company

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime

Approved by the Board on 27.09.11

Torsten Danneberg

1 ACCOUNTING POLICIES

These accounts have been extracted from full financial statements

These statements have been prepared under the historical cost convention and in accordance with the German tax law and with the Financial Standard for Smaller Entities (FRSSE, effective April 2008)

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts

Cash flow

The company has taken advantage of the exemption from the requirement to prepare a cash flow statement under the Financial Reporting Standard for Smaller Entities

Currency

The business of the company and its total transactions are conducted exclusively in the currency of European EURO (EUR)

Therefore all all relevant information available as at 31/12/2010 had to be translated into British Pound applying the exchange rate circulated by the Bank of England regarding the accounting reference date

To the extent this report also includes accounts subject to reports filed with the Companies House of preceeding financial years this could lead to differences according to a change of exchange rates between the present and precceding accounting reference Bates Where such differences occur they are explicitly shown in the report

Depreciation

Depreciation has been provided at the following rates In order to write off the assets over their estimated useful loves, as follows

Equipment	7,69 - 20 00 % reducing balance
Low value assets	100,00 % reducing balance
Software	25,00 % reducing balance

2 FIXER ASSETS

	Tangible Assets £	Intangible Assets £	Investments £
Cost
At 01/01/2010	186.340,22	3.048,22	87.907,75
Additions	38.091,82	4.137,97	127.461,88
Disposals	-1.810,99	0,00	-18.621,05
At 31/12/2010	222.621,05	7.184,18	196.748,58
Depreciation
Cumulated Depreciation as per 01/01/2010	53.424,34	904,55	0,00
Depreciation during the year	16.857,63	746,85	0,00
Cumulated Depreciation as per 31/12/2010	70.281,97	1.651,40	0,00
Net Book Value
At 31/12/2010	152.339,08	5.532,79	196.748,58
At 31/12/2009	159.304,50	2.566,88	90.714,74
Change in value due to different exchange rates	-4.930,65	-79,46	-2.806,99
At 31/12/2009	154.373,85	2.487,42	87.907,75

3 SHARE CAPITAL

	2010 £	2009 £
Allotted, called up and fully paid 1 ordinary share of £1 each	1,00	1 00
Authorised 100 ordinary shares of £1 each	100,00	100,00

4. LOSS/PROFITS PREVIOUS YEAR BROUGHT FORWARD

	£
Profit at 31/12/2009	225.842,58
Profit previous year brought forward at 31/12/2009	2.817,67
Change in value due to different exchange rates	-41.673,26
Profit previous year brought forward at 31/12/2010	186.986,99