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REGISTERED NUMBER: 07971674 (England and Wales)















EFS Systems (Uk) Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






EFS Systems (Uk) Ltd (Registered number: 07971674)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EFS Systems (Uk) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R Hadley





REGISTERED OFFICE: Unit 31 (8) Pant Industrial Estate
Dowlais
Merthyr Tydfil
Mid Glamorgan
CF48 2SR





REGISTERED NUMBER: 07971674 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

EFS Systems (Uk) Ltd (Registered number: 07971674)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 225,292 114,971
225,292 114,971

CURRENT ASSETS
Stocks 15,731 15,731
Debtors 6 2,170,045 848,131
Cash at bank 951,653 1,010,192
3,137,429 1,874,054
CREDITORS
Amounts falling due within one year 7 1,088,777 579,147
NET CURRENT ASSETS 2,048,652 1,294,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,273,944

1,409,878

CREDITORS
Amounts falling due after more than one year 8 (92,217 ) (37,061 )

PROVISIONS FOR LIABILITIES (30,925 ) (20,600 )
NET ASSETS 2,150,802 1,352,217

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 2,150,800 1,352,215
2,150,802 1,352,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:



R Hadley - Director


EFS Systems (Uk) Ltd (Registered number: 07971674)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

EFS Systems (Uk) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

EFS Systems (Uk) Ltd (Registered number: 07971674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 90,000
AMORTISATION
At 1 April 2022
and 31 March 2023 90,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 9,375 12,992 22,756 284,271 329,394
Additions - 6,270 3,430 170,666 180,366
Disposals - - - (15,350 ) (15,350 )
At 31 March 2023 9,375 19,262 26,186 439,587 494,410
DEPRECIATION
At 1 April 2022 9,375 9,027 8,159 187,862 214,423
Charge for year - 1,830 5,243 60,094 67,167
Eliminated on disposal - - - (12,472 ) (12,472 )
At 31 March 2023 9,375 10,857 13,402 235,484 269,118
NET BOOK VALUE
At 31 March 2023 - 8,405 12,784 204,103 225,292
At 31 March 2022 - 3,965 14,597 96,409 114,971

EFS Systems (Uk) Ltd (Registered number: 07971674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 60,590
Additions 79,800
Disposals (15,350 )
At 31 March 2023 125,040
DEPRECIATION
At 1 April 2022 49,495
Charge for year 13,655
Eliminated on disposal (12,472 )
At 31 March 2023 50,678
NET BOOK VALUE
At 31 March 2023 74,362
At 31 March 2022 11,095

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,532,546 556,240
Amounts owed by group undertakings 595,524 250,000
Other debtors 41,975 41,891
2,170,045 848,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,131 9,952
Hire purchase contracts 9,867 3,975
Trade creditors 470,694 356,721
Taxation and social security 561,960 176,010
Other creditors 36,125 32,489
1,088,777 579,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 23,468 33,598
Hire purchase contracts 68,749 3,463
92,217 37,061