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REGISTERED NUMBER: 03707885 (England and Wales)












Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 28 February 2023

for

EPI-USE Limited

EPI-USE Limited (Registered number: 03707885)






Contents of the Consolidated Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Income and Retained
Earnings

9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


EPI-USE Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: E Jones
A R Kessler
J L Mcfadzean
R J Van Den Heever
R J Patrick



SECRETARY: Ark Professional Services Limited



REGISTERED OFFICE: Churchill House
137 Brent Street
London
NW4 4DJ



REGISTERED NUMBER: 03707885 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Ashfaq Sharif BA FCA CTA



AUDITORS: PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

EPI-USE Limited (Registered number: 03707885)

Group Strategic Report
for the Year Ended 28 February 2023

The directors present their strategic report of the company and the group for the year ended 28 February 2023.

The aim of this report is to give more insight into the current affairs of the EPI-USE Limited business. The document will have a two-fold purpose, firstly to look back at the financial year under review and give more insight into the state of the business. Secondly, to look forward and give a brief indication of the future and the plans to expand the business. While we look at the future, we will also assess the possible risk factors that can prohibit us from accomplishing these plans.

REVIEW OF BUSINESS
EPI-USE Ltd forms part of a wider group of companies, who amongst other things, are known as the world's largest and most experienced independent SAP HR payroll specialists, designing, building and implementing cloud based, hybrid and on premises HR/Payroll systems for large, complex multinational corporations. EPI-USE Limited has recently emerged as a leader in deploying SAP S/4 HANA Finance applications across numerous industries.

PRINCIPAL RISKS AND UNCERTAINTIES
Economic Situation
Tepid UK GDP growth is a concern for the business. As a service provider to businesses who wish to invest in their growth capacity, the limited growth in the UK market is concerning. Increase wage pressure is further eroding margins.

Competition
Competition for SAP from Workday and Oracle is more of a concern than direct competition from other System Integration partners. EPI-USE Limited has invested heavily in intellectual property, specifically in the areas of HR and Payroll, and this niche IP creates a strategic advantage over other implementation partners.

COMPANY OBJECTIVES AND STRATEGY
The primary objective for EPI-USE Limited remains growth. This may in part be achieved through acquisition and the development of software assets to meet our client's unique needs.

The primary strategy is to leverage our existing relationship with strategic partners to increase the number and the quality of revenue generating opportunities.

EPI-USE Limited will continue to focus on the core strengths of business critical, non-core software and services for both local and large multinational clients.

BUSINESS MODEL
EPI-USE Limited has specialised units focused on developing solutions and servicing the needs of clients in the verticals that we have chosen to target. Revenue is generated through license sales, managed services, advisory services and implementation services.

MAIN TRENDS AND FACTORS
EPI-USE Limited has experienced consistent and sustainable growth through the last few financial years. This trend is set to continue.

DEVELOPMENT AND PERFORMANCE
Pressure on consulting rates and inflationary pressure has negatively impacted margins. Strategies around diversifying revenue streams and focusing on recuring revenue remain a priority.


EPI-USE Limited (Registered number: 03707885)

Group Strategic Report
for the Year Ended 28 February 2023

FUTURE DEVELOPMENTS
Leveraging the expertise gained from multiple years of implementing payrolls for large multinational organisations, EPI-USE Limited is currently developing IP to increase the recurring revenue base of the business. This strategy, which was initially implemented with pilot programs in previous years, is proving to be effective.

ON BEHALF OF THE BOARD:





R J Patrick - Director


23 November 2023

EPI-USE Limited (Registered number: 03707885)

Report of the Directors
for the Year Ended 28 February 2023

The directors present their report with the financial statements of the company and the group for the year ended 28 February 2023.

DIVIDENDS
No dividends will be distributed for the year ended 28 February 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2022 to the date of this report.

E Jones
A R Kessler
R J Van Den Heever
R J Patrick
J L Mcfadzean

POLITICAL DONATIONS AND EXPENDITURE
The company did not make any political donations during the year. Donations made during the year were to a wildlife charity.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

EPI-USE Limited (Registered number: 03707885)

Report of the Directors
for the Year Ended 28 February 2023


AUDITORS
The auditors, PB Associates, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R J Patrick - Director


23 November 2023

Report of the Independent Auditors to the Members of
EPI-USE Limited

Opinion
We have audited the financial statements of EPI-USE Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 28 February 2023 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
EPI-USE Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
EPI-USE Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our procedures to respond to risks identified included the following:

Enquires of management, concerning actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of provisions.
Testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)
for and on behalf of PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

23 November 2023

EPI-USE Limited (Registered number: 03707885)

Consolidated
Statement of Income and
Retained Earnings
for the Year Ended 28 February 2023

28.2.23 28.2.22
Notes £    £   

TURNOVER 19,835,431 17,898,766

Cost of sales 8,114,856 6,791,731
GROSS PROFIT 11,720,575 11,107,035

Administrative expenses 12,117,837 11,022,739
(397,262 ) 84,296

Other operating income - 10,000
OPERATING (LOSS)/PROFIT 4 (397,262 ) 94,296

Interest receivable and similar income 3,387 124
(LOSS)/PROFIT BEFORE TAXATION (393,875 ) 94,420

Tax on (loss)/profit 5 59,105 155,460
LOSS FOR THE FINANCIAL YEAR (452,980 ) (61,040 )

Retained earnings at beginning of year 2,464,121 2,525,161

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

2,011,141

2,464,121

Loss attributable to:
Owners of the parent (452,980 ) (61,040 )

EPI-USE Limited (Registered number: 03707885)

Consolidated Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 2,263,357 2,875,327
Tangible assets 8 85,483 49,435
Investments 9 - -
2,348,840 2,924,762

CURRENT ASSETS
Debtors 10 5,155,068 4,942,239
Cash at bank and in hand 3,772,809 3,231,170
8,927,877 8,173,409
CREDITORS
Amounts falling due within one year 11 9,064,576 8,433,050
NET CURRENT LIABILITIES (136,699 ) (259,641 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,212,141

2,665,121

CAPITAL AND RESERVES
Called up share capital 12 201,000 201,000
Retained earnings 13 2,011,141 2,464,121
SHAREHOLDERS' FUNDS 2,212,141 2,665,121

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





R J Patrick - Director


EPI-USE Limited (Registered number: 03707885)

Company Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 85,472 49,361
Investments 9 5,586,185 5,586,185
5,671,657 5,635,546

CURRENT ASSETS
Debtors 10 4,539,231 4,239,346
Cash at bank and in hand 2,511,183 1,460,032
7,050,414 5,699,378
CREDITORS
Amounts falling due within one year 11 7,823,001 7,170,062
NET CURRENT LIABILITIES (772,587 ) (1,470,684 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,899,070

4,164,862

CAPITAL AND RESERVES
Called up share capital 12 201,000 201,000
Retained earnings 13 4,698,070 3,963,862
SHAREHOLDERS' FUNDS 4,899,070 4,164,862

Company's profit for the financial year 734,208 745,990

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





R J Patrick - Director


EPI-USE Limited (Registered number: 03707885)

Consolidated Cash Flow Statement
for the Year Ended 28 February 2023

28.2.23 28.2.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 608,261 298,176
Tax paid 4,119 (157,943 )
Net cash from operating activities 612,380 140,233

Cash flows from investing activities
Purchase of tangible fixed assets (74,128 ) (41,612 )
Interest received 3,387 124
Net cash from investing activities (70,741 ) (41,488 )

Increase in cash and cash equivalents 541,639 98,745
Cash and cash equivalents at
beginning of year

2

3,231,170

3,132,425

Cash and cash equivalents at end of
year

2

3,772,809

3,231,170

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 28 February 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED
FROM OPERATIONS
28.2.23 28.2.22
£    £   
(Loss)/profit before taxation (393,875 ) 94,420
Depreciation charges 650,049 639,548
Government grants - (10,000 )
Finance income (3,387 ) (124 )
252,787 723,844
(Increase)/decrease in trade and other debtors (462,829 ) 16,344
Increase/(decrease) in trade and other creditors 818,303 (442,012 )
Cash generated from operations 608,261 298,176

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 3,772,809 3,231,170
Year ended 28 February 2022
28.2.22 1.3.21
£    £   
Cash and cash equivalents 3,231,170 3,132,425


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.22 Cash flow At 28.2.23
£    £    £   
Net cash
Cash at bank and in hand 3,231,170 541,639 3,772,809
3,231,170 541,639 3,772,809
Total 3,231,170 541,639 3,772,809

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

EPI-USE Limited 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 General Information page.

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" 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 33% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Going concern
At the time of approving the financial statements, the directors have undertaken an assessment of the adequacy of the resources available to the company. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS
28.2.23 28.2.22
£    £   
Wages and salaries 7,348,197 6,355,394
Social security costs 946,428 865,053
Other pension costs 252,670 291,115
8,547,295 7,511,562

The average number of employees during the year was as follows:
28.2.23 28.2.22

Production 98 90

The average number of employees by undertakings that were proportionately consolidated during the year was 98 (2022 - 90 ) .

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS - continued

28.2.23 28.2.22
£    £   
Directors' remuneration 585,332 457,490
Directors' pension contributions to money purchase schemes 21,355 18,300

Information regarding the highest paid director is as follows:
28.2.23 28.2.22
£    £   
Emoluments etc 276,000 238,000
Pension contributions to money purchase schemes 11,040 9,520

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging/(crediting):

28.2.23 28.2.22
£    £   
Hire of plant and machinery 52,904 45,383
Other operating leases 6,956 34,716
Depreciation - owned assets 38,080 27,577
Goodwill amortisation 611,970 611,970
Auditors' remuneration 24,317 24,450
Foreign exchange differences (32,033 ) (32,496 )

5. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
28.2.23 28.2.22
£    £   
Current tax:
UK corporation tax 59,105 155,460
Tax on (loss)/profit 59,105 155,460

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

7. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 6,119,696
AMORTISATION
At 1 March 2022 3,244,369
Amortisation for year 611,970
At 28 February 2023 3,856,339
NET BOOK VALUE
At 28 February 2023 2,263,357
At 28 February 2022 2,875,327

8. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 19,293 197,591 216,884
Additions - 74,128 74,128
Disposals (18,827 ) (111,316 ) (130,143 )
At 28 February 2023 466 160,403 160,869
DEPRECIATION
At 1 March 2022 16,744 150,705 167,449
Charge for year 2,549 35,531 38,080
Eliminated on disposal (18,827 ) (111,316 ) (130,143 )
At 28 February 2023 466 74,920 75,386
NET BOOK VALUE
At 28 February 2023 - 85,483 85,483
At 28 February 2022 2,549 46,886 49,435

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

8. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 18,827 177,382 196,209
Additions - 74,128 74,128
Disposals (18,827 ) (111,316 ) (130,143 )
At 28 February 2023 - 140,194 140,194
DEPRECIATION
At 1 March 2022 16,279 130,569 146,848
Charge for year 2,548 35,469 38,017
Eliminated on disposal (18,827 ) (111,316 ) (130,143 )
At 28 February 2023 - 54,722 54,722
NET BOOK VALUE
At 28 February 2023 - 85,472 85,472
At 28 February 2022 2,548 46,813 49,361

9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 5,586,185
NET BOOK VALUE
At 28 February 2023 5,586,185
At 28 February 2022 5,586,185


EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Trade debtors 5,016,635 4,190,163 4,410,330 3,497,054
Amounts owed by group undertakings - - 51,040 39,719
Other debtors 60,572 49,503 - -
Prepayments and accrued income 77,861 702,573 77,861 702,573
5,155,068 4,942,239 4,539,231 4,239,346

Included in trade debtors are sums totalling £838,710 (2022: £867,149) due from associated entities.

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Trade creditors 2,986,819 1,857,991 2,431,638 1,528,499
Amounts owed to group undertakings - - - 28,546
Amounts owed to associates 3,160,715 3,691,571 3,160,715 3,691,571
Corporation tax 433,000 369,776 59,105 145,767
Social security and other taxes 233,729 197,586 233,729 197,586
VAT 511,734 405,756 436,155 239,277
Other creditors 20,234 444,283 8,509 32,600
Accruals and deferred income 1,544,025 1,487,913 1,493,150 1,306,216
Accrued expenses 174,320 (21,826 ) - -
9,064,576 8,433,050 7,823,001 7,170,062

Included in trade creditors are sums totalling £2,273,323 (2022: £1,335,072) due to associated entities.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
201,000 Ordinary £1 201,000 201,000

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

13. RESERVES

Group
Retained
earnings
£   

At 1 March 2022 2,464,121
Deficit for the year (452,980 )
At 28 February 2023 2,011,141

Company
Retained
earnings
£   

At 1 March 2022 3,963,862
Profit for the year 734,208
At 28 February 2023 4,698,070


EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

14. RELATED PARTY DISCLOSURES

Detailed transactions involving sales, purchases, trade debtors and trade creditor balances involving group companies, are separately listed as follows:

Related Party Debtor Creditor Sales Purchases
£    £    £    £   
Employee Managed Service Pty Ltd 7,409 6,854 27,827
Employee Managed Services LLC 4,273
EPI-USE Africa (Pty) Ltd 112,645 69,323 216,146 1,174,793
EPI-USE America Inc 375,054 209,899 1,132,697 866,238
EPI-USE Argentina 373
EPI-USE Australia Limited 87,937 159,208 219,967
EPI-USE Brazil 18,893
EPI-USE Business Services (Pty) Ltd 175
EPI-USE BV 121,213
EPI-USE Canada 11,574 71,681
EPI-USE Denmark Aps 79,797 27,184 352,338 35,854
EPI-USE Deutschland GMBH 3,709 6,700 41,669 16,945
EPI-USE East Africa Limited 8,450 119 50,075
EPI-USE Finland OY -1,690 4,965
EPI-USE Iberia SL 10,621 114,569 14,910 1,167,992
EPI-USE India Private Limited 17,854
EPI-USE Malaysia Sdn Bhd 3,009 5,118
EPI-USE Morocco Sarl 11,680
EPI-USE New Zealand 1,509 1,509
EPI-USE NV 12,275 3,793 436,960 63,590
EPI-USE Peru SAC 4,602
EPI-USE Phillipines 3,165 1,684 3,165
EPI-USE SAS (France) 188 14,252 121,086
EPI-USE Singapore Pte Ltd 7,535
EPI-USE Systems Limited 210,074 1,641,086 1,383,951 646,223
EU Labs Ltd 10,058 48,182 142,997 385,686
G3G Pty Ltd 12,794 76,255
Hyperboliq Pty Ltd 550
ID2 Infrastructure Systems (pty) Ltd 2,079
ILAB Brazil 5,508 5,508
ILAB Pty Ltd 28,791
Interfile USA LLC 7,199
Internet Filing Ltd (TA Interfile) 6,420 37,680
Konk Consulting 4,519 55,033
K5 ERP Solutions (PTY) LTD 2,884 2,884
K5 Business One (Pty) Ltd 177 177
K5 Business Mauritius Ltd 268
Kreon Technology (Pty) Ltd 1,463
Logbox (Pty) Ltd 833
Metagrated (Pty) Ltd 1,056
Stratview Brasil Servicos em Infomatica 1,498 1,090


The Group paid £ 250,070 in services charges to EPI-USE Systems Limited during the period.

EPI-USE Limited (Registered number: 03707885)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

15. ULTIMATE CONTROLLING PARTY

The controlling party is EPI-USE Systems Limited.

There are a number of shareholders in EPI-USE Systems Limited, none of whom hold a controlling interest in the company.