Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company is providing services in subsea unexploded ordinance risk.2021-02-01false73truetrue 11130369 2021-02-01 2022-01-31 11130369 2020-02-01 2021-01-31 11130369 2022-01-31 11130369 2021-01-31 11130369 c:Director1 2021-02-01 2022-01-31 11130369 d:ComputerEquipment 2021-02-01 2022-01-31 11130369 d:ComputerEquipment 2022-01-31 11130369 d:ComputerEquipment 2021-01-31 11130369 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 11130369 d:CurrentFinancialInstruments 2022-01-31 11130369 d:CurrentFinancialInstruments 2021-01-31 11130369 d:Non-currentFinancialInstruments 2022-01-31 11130369 d:Non-currentFinancialInstruments 2021-01-31 11130369 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 11130369 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 11130369 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 11130369 d:Non-currentFinancialInstruments d:AfterOneYear 2021-01-31 11130369 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 11130369 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-01-31 11130369 d:ShareCapital 2022-01-31 11130369 d:ShareCapital 2021-01-31 11130369 d:RetainedEarningsAccumulatedLosses 2022-01-31 11130369 d:RetainedEarningsAccumulatedLosses 2021-01-31 11130369 c:FRS102 2021-02-01 2022-01-31 11130369 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 11130369 c:FullAccounts 2021-02-01 2022-01-31 11130369 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 11130369










EODEX UK - MANAGEMENT LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

 
EODEX UK - MANAGEMENT LTD
REGISTERED NUMBER: 11130369

BALANCE SHEET
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,581
2,339

  
5,581
2,339

Current assets
  

Debtors: amounts falling due within one year
 5 
541,619
422,642

Cash at bank and in hand
  
515,043
12,143

  
1,056,662
434,785

Creditors: amounts falling due within one year
 6 
(1,678,675)
(322,691)

Net current (liabilities)/assets
  
 
 
(622,013)
 
 
112,094

Total assets less current liabilities
  
(616,432)
114,433

Creditors: amounts falling due after more than one year
 7 
(102,083)
(183,750)

  

Net liabilities
  
(718,515)
(69,317)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(718,615)
(69,417)

  
(718,515)
(69,317)

Page 1

 
EODEX UK - MANAGEMENT LTD
REGISTERED NUMBER: 11130369
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the statement of comprehensive income or the directors' report in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

 




A Woollven
Director

Date: 15 July 2022

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

Eodex UK - Management Ltd is a private company, limited by share capital, incorporated in England and Wales, registered number 11130369. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. This basis is considered appropriate as the company's directors and shareholders support the company and will continue to provide support to the company to meet its forecast liabilities as they fall due.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2021 - 3).


4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 February 2021
3,508


Additions
5,213



At 31 January 2022

8,721



Depreciation


At 1 February 2021
1,169


Charge for the year on owned assets
1,971



At 31 January 2022

3,140



Net book value



At 31 January 2022
5,581



At 31 January 2021
2,339

Page 6

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

5.


Debtors

2022
2021
£
£


Trade debtors
1,800
1,759

Amounts owed by group undertakings
100
389,030

Other debtors
26,432
31,114

Prepayments and accrued income
513,287
739

541,619
422,642



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
81,667
61,250

Trade creditors
36,358
195,151

Amounts owed to group undertakings
1,384,632
-

Other taxation and social security
15,635
60,075

Other creditors
156,533
2,365

Accruals and deferred income
3,850
3,850

1,678,675
322,691



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
102,083
183,750


Page 7

 
EODEX UK - MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
81,667
61,250


Amounts falling due 2-5 years

Bank loans
102,083
183,750


183,750
245,000



9.


Related party transactions

At the balance sheet date, a balance of £1,384,632 (2021: £389,030 due from) was due to group companies.
Included in other creditors is an amount of £153,217 (2021: £Nil) owed to a director of the company. This amount is unsecured, interest free and repayable demand.
Included in other debtors is an amount of £11,240 (2021: £31,114) owed from connected companies. This amount is unsecured, interest free and repayable on demand.                                                             

 
Page 8