Company registration number SC540443 (Scotland)
EUTHENIA PRODUCTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EUTHENIA PRODUCTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EUTHENIA PRODUCTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,658,522
1,446,319
Current assets
Stocks
866,503
519,703
Debtors
4
865,988
1,233,576
Cash at bank and in hand
24,564
16,835
1,757,055
1,770,114
Creditors: amounts falling due within one year
5
(1,099,850)
(819,842)
Net current assets
657,205
950,272
Total assets less current liabilities
2,315,727
2,396,591
Creditors: amounts falling due after more than one year
6
(824,412)
(949,219)
Provisions for liabilities
(249,405)
(223,843)
Net assets
1,241,910
1,223,529
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,241,909
1,223,528
Total equity
1,241,910
1,223,529

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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

EUTHENIA PRODUCTS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 January 2024 and are signed on its behalf by:
Mr L Torrance
Director
Company registration number SC540443 (Scotland)
EUTHENIA PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Euthenia Products Ltd is a private company limited by shares incorporated in Scotland. The registered office is 72 Whitecraigs Road, Glenrothes, KY6 2RX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on cost
Fixtures and fittings
33% on cost
Computers equipment
33% on cost
Motor vehicles
33% on cost
FL vehicles
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

EUTHENIA PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Rentals payable under operating leases, are charged to profit or loss on a straight line basis over the period of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
29
30
EUTHENIA PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computers equipment
Motor vehicles
FL vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2022
1,676,577
5,323
46,207
86,148
-
0
1,814,255
Additions
194,806
4,225
16,256
139,980
156,950
512,217
Disposals
-
0
-
0
-
0
(204,629)
-
0
(204,629)
At 31 December 2022
1,871,383
9,548
62,463
21,499
156,950
2,121,843
Depreciation and impairment
At 1 January 2022
302,257
2,261
26,565
36,853
-
0
367,936
Depreciation charged in the year
101,596
1,198
14,345
38,361
4,221
159,721
Eliminated in respect of disposals
-
0
-
0
-
0
(64,336)
-
0
(64,336)
At 31 December 2022
403,853
3,459
40,910
10,878
4,221
463,321
Carrying amount
At 31 December 2022
1,467,530
6,089
21,553
10,621
152,729
1,658,522
At 31 December 2021
1,374,320
3,062
19,642
49,295
-
0
1,446,319
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
435,820
526,748
Other debtors
284,849
624,205
Prepayments and accrued income
145,319
82,623
865,988
1,233,576
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
331,768
211,116
Obligations under finance leases
284,585
228,243
Trade creditors
250,444
269,804
Corporation tax
60,228
30,734
Other taxation and social security
324
-
0
Other creditors
12,351
72,636
Accruals and deferred income
160,150
7,309
1,099,850
819,842
EUTHENIA PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
6
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Bank loans and overdrafts
141,718
241,667
Obligations under finance leases
682,694
707,552
824,412
949,219
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