Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-01falseSupply of bakery equipment2121falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01042804 2022-03-01 2023-02-28 01042804 2021-03-01 2022-02-28 01042804 2023-02-28 01042804 2022-02-28 01042804 2021-03-01 01042804 c:Director1 2022-03-01 2023-02-28 01042804 c:Director2 2022-03-01 2023-02-28 01042804 d:PlantMachinery 2022-03-01 2023-02-28 01042804 d:PlantMachinery 2023-02-28 01042804 d:PlantMachinery 2022-02-28 01042804 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01042804 d:OfficeEquipment 2022-03-01 2023-02-28 01042804 d:OfficeEquipment 2023-02-28 01042804 d:OfficeEquipment 2022-02-28 01042804 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01042804 d:ComputerEquipment 2022-03-01 2023-02-28 01042804 d:ComputerEquipment 2023-02-28 01042804 d:ComputerEquipment 2022-02-28 01042804 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01042804 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01042804 d:CurrentFinancialInstruments 2023-02-28 01042804 d:CurrentFinancialInstruments 2022-02-28 01042804 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01042804 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 01042804 d:ShareCapital 2023-02-28 01042804 d:ShareCapital 2022-02-28 01042804 d:ShareCapital 2021-03-01 01042804 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 01042804 d:RetainedEarningsAccumulatedLosses 2023-02-28 01042804 d:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 01042804 d:RetainedEarningsAccumulatedLosses 2022-02-28 01042804 d:RetainedEarningsAccumulatedLosses 2021-03-01 01042804 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 01042804 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 01042804 c:OrdinaryShareClass1 2022-03-01 2023-02-28 01042804 c:OrdinaryShareClass1 2023-02-28 01042804 c:OrdinaryShareClass1 2022-02-28 01042804 c:FRS102 2022-03-01 2023-02-28 01042804 c:IndependentExaminationCharity 2022-03-01 2023-02-28 01042804 c:FullAccounts 2022-03-01 2023-02-28 01042804 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01042804










European Process Plant Limited










Financial statements

Information for filing with the registrar

For the Year Ended 28 February 2023

 
European Process Plant Limited
Registered number: 01042804

Balance Sheet
As at 28 February 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,211
39,568

  
18,211
39,568

Current assets
  

Stocks
  
345,214
154,183

Debtors: amounts falling due within one year
 5 
4,633,409
5,582,371

Cash at bank and in hand
  
568,896
1,450,968

  
5,547,519
7,187,522

Creditors: amounts falling due within one year
 6 
(2,615,809)
(4,265,460)

Net current assets
  
 
 
2,931,710
 
 
2,922,062

Total assets less current liabilities
  
2,949,921
2,961,630

Provisions for liabilities
  

Deferred tax
  
-
(3,288)

  
 
 
-
 
 
(3,288)

Net assets
  
2,949,921
2,958,342


Capital and reserves
  

Called up share capital 
  
7,000
7,000

Profit and loss account
  
2,942,921
2,951,342

  
2,949,921
2,958,342


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 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account 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: 


S C Merritt
M James
Director
Director


Date: 14 September 2023

The notes on pages 4 to 9 form part of these financial statements.
Page 1

 
European Process Plant Limited
Registered number: 01042804

Balance Sheet (continued)
As at 28 February 2023


Page 2

 
European Process Plant Limited
 

Statement of Changes in Equity
For the Year Ended 28 February 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2022
7,000
2,951,342
2,958,342



Profit for the year
-
341,579
341,579

Dividends
-
(350,000)
(350,000)


At 28 February 2023
7,000
2,942,921
2,949,921


The notes on pages 4 to 9 form part of these financial statements.


Statement of Changes in Equity
For the Year Ended 28 February 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2021
7,000
3,067,770
3,074,770



Profit for the year
-
483,572
483,572

Dividends
-
(600,000)
(600,000)


At 28 February 2022
7,000
2,951,342
2,958,342


The notes on pages 4 to 9 form part of these financial statements.
Share Capital
This represents the nominal value of shares that have been issued by the company.
Profit and loss account
The profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the company’s shareholders. The profit and loss account is fully distributable at each year end.

Page 3

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

1.


General information

European Process Plant Limited is a limited liability company registered in England, company number 01042804. The address of the registered office and principal place of business is EPP House, Unit 8/9 Epsom Business Park, Kiln Lane, Epsom, Surrey, KT17 1JF.

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 financial statements are presented in Sterling, which is the functional currency of the company,
and are rounded to the nearest £1..

The following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 4

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

2.Accounting policies (continued)

 
2.3

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 Profit and Loss Account in the same period as the related expenditure.

 
2.4

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:

Plant and machinery
-
20%
Office equipment
-
33%
Computer equipment
-
33%

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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.
 
Page 5

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.





 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

2.Accounting policies (continued)

 
2.8

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.
 
 All foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 21).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2022
7,100
90,704
56,572
154,376



At 28 February 2023

7,100
90,704
56,572
154,376



Depreciation


At 1 March 2022
592
90,451
23,765
114,808


Charge for the year on owned assets
1,420
253
19,684
21,357



At 28 February 2023

2,012
90,704
43,449
136,165



Net book value



At 28 February 2023
5,088
-
13,123
18,211



At 28 February 2022
6,508
253
32,807
39,568

Page 7

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

5.


Debtors

2023
2022
£
£


Trade debtors
904,887
1,389,075

Amounts owed by group undertakings
2,484,949
2,427,693

Other debtors
100
100

Prepayments and accrued income
1,243,026
1,765,503

Deferred taxation
447
-

4,633,409
5,582,371



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
716,600
1,237,942

Corporation tax
78,158
103,824

Other taxation and social security
282,094
563,557

Accruals and deferred income
1,538,957
2,360,137

2,615,809
4,265,460



7.


Deferred taxation




2023


£






At beginning of year
(3,288)


Charged to profit or loss
3,735



At end of year
447

The deferred taxation balance is made up as follows:

2023
2022
£
£


Decelerated / (Accelerated) capital allowances
447
(3,288)

447
(3,288)

Page 8

 
European Process Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7,000 (2022 - 7,000) Ordinary shares of £1.00 each
7,000
7,000



9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £71,856 (2022 - £69,126).
Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date.


10.


Related party transactions

The company has taken advantage of the exemption from disclosing related party transactions with its fellow group members provided by Financial Reporting Standard 102 as it is a wholly owned subsidiary in the group headed by Somers Hills Limited.


11.


Controlling party

The company regards Somers Hills Limited, incorporated in England, as its ultimate holding company.
The address of the registered office of Somers Hills Limited is EPP House, 8/9 Epsom Business Park, Epsom, Surrey, KT17 1JF.
Somers Hills Limited has no controlling shareholders.
Consolidated group accounts are publicly available from the Registrar of Companies.


Page 9