Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-302022-10-01falseSupply of fresh fruit and vegetables, arranging imports of fresh supplies from overseas and forwarding these direct to customers.33falsetrue 07515026 2022-10-01 2023-09-30 07515026 2021-10-01 2022-09-30 07515026 2023-09-30 07515026 2022-09-30 07515026 c:Director1 2022-10-01 2023-09-30 07515026 d:MotorVehicles 2022-10-01 2023-09-30 07515026 d:OfficeEquipment 2022-10-01 2023-09-30 07515026 d:OfficeEquipment 2023-09-30 07515026 d:OfficeEquipment 2022-09-30 07515026 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07515026 d:CurrentFinancialInstruments 2023-09-30 07515026 d:CurrentFinancialInstruments 2022-09-30 07515026 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07515026 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 07515026 d:ShareCapital 2023-09-30 07515026 d:ShareCapital 2022-09-30 07515026 d:CapitalRedemptionReserve 2023-09-30 07515026 d:CapitalRedemptionReserve 2022-09-30 07515026 d:RetainedEarningsAccumulatedLosses 2023-09-30 07515026 d:RetainedEarningsAccumulatedLosses 2022-09-30 07515026 c:OrdinaryShareClass1 2022-10-01 2023-09-30 07515026 c:OrdinaryShareClass1 2023-09-30 07515026 c:OrdinaryShareClass1 2022-09-30 07515026 c:OrdinaryShareClass2 2022-10-01 2023-09-30 07515026 c:OrdinaryShareClass2 2023-09-30 07515026 c:OrdinaryShareClass2 2022-09-30 07515026 c:FRS102 2022-10-01 2023-09-30 07515026 c:Audited 2022-10-01 2023-09-30 07515026 c:FullAccounts 2022-10-01 2023-09-30 07515026 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07515026 c:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 07515026 6 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07515026









EUROPEAN PRODUCE COMPANY (EPCO) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
REGISTERED NUMBER: 07515026

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,663
4,421

Investments
 5 
-
20,375

  
2,663
24,796

Current assets
  

Debtors: amounts falling due within one year
 6 
543,722
323,658

Cash at bank and in hand
 7 
881,469
665,608

  
1,425,191
989,266

Creditors: amounts falling due within one year
 8 
(915,307)
(370,753)

Net current assets
  
 
 
509,884
 
 
618,513

Total assets less current liabilities
  
512,547
643,309

  

Net assets
  
512,547
643,309


Capital and reserves
  

Called up share capital 
 9 
47,500
47,500

Capital redemption reserve
  
2,500
2,500

Profit and loss account
  
462,547
593,309

  
512,547
643,309


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 statement of comprehensive income 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 on 5 February 2024.



A S Sklinitzis
Director

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

Page 1

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

European Produce Company (EPCO) Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. The principal activity of the company during the year has been that of the supply of fresh fruit and vegetables.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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.

 
2.3

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.

Page 2

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Motor vehicles
-
25% straight Line
Office equipment
-
25% 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.

 
2.4

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.

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 4

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 October 2022
11,655



At 30 September 2023

11,655



Depreciation


At 1 October 2022
7,234


Charge for the year on owned assets
1,758



At 30 September 2023

8,992



Net book value



At 30 September 2023
2,663



At 30 September 2022
4,421


5.


Fixed asset investments





Other fixed asset investments

£





At 1 October 2022
20,375


Amounts written off
(20,375)



At 30 September 2023
-




Page 6

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
457,085
247,481

Other debtors
21,930
31,469

Prepayments and accrued income
64,707
44,708

543,722
323,658



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
881,469
665,608

881,469
665,608



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
690,857
341,878

Corporation tax
187,530
22,326

Other creditors
219
219

Accruals and deferred income
36,701
6,330

915,307
370,753



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



40,375 (2022 - 40,375) Ordinary "A" shares of £1.00 each
40,375
40,375
7,125 (2022 - 7,125) Ordinary "B" shares of £1.00 each
7,125
7,125

47,500

47,500


Page 7

 
EUROPEAN PRODUCE COMPANY (EPCO) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Pension commitments

The company operates a defined contribution pension scheme. The assets under 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 £1,151 (2022: £1,051). The amount unpaid at the year end amounted to £219 (2022: £219) and is included within other creditors within one year.


11.


Related party transactions

Included within other debtors due within one year is an amount due from the director of £Nil (2022: £Nil) to the company.


12.


Controlling party

The company is controlled by its director.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2023 was unqualified.

The audit report was signed on 9 February 2024 by Duncan Stannett (Senior Statutory Auditor) on behalf of Barnes Roffe LLP.

 
Page 8