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REGISTERED NUMBER: 03032466 (England and Wales)














Unaudited Financial Statements

for the Period 1 January 2022 to 30 June 2023

for

E.P.S. Products Limited

E.P.S. Products Limited (Registered number: 03032466)






Contents of the Financial Statements
for the Period 1 January 2022 to 30 June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


E.P.S. Products Limited (Registered number: 03032466)

Balance Sheet
30 June 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 851,166 877,664

CURRENT ASSETS
Debtors 5 481,167 1,139,308
Investments 6 7,629 -
Cash at bank 4,610 22,789
493,406 1,162,097
CREDITORS
Amounts falling due within one year 7 61,965 698,216
NET CURRENT ASSETS 431,441 463,881
TOTAL ASSETS LESS CURRENT LIABILITIES 1,282,607 1,341,545

CREDITORS
Amounts falling due after more than one year 8 (18,745 ) (33,830 )

PROVISIONS FOR LIABILITIES (3,080 ) (3,449 )
NET ASSETS 1,260,782 1,304,266

CAPITAL AND RESERVES
Called up share capital 175 175
Non distributable reserves 9 399,039 412,222
Retained earnings 861,568 891,869
SHAREHOLDERS' FUNDS 1,260,782 1,304,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:




Mr P Lewis - Director


E.P.S. Products Limited (Registered number: 03032466)

Notes to the Financial Statements
for the Period 1 January 2022 to 30 June 2023

1. STATUTORY INFORMATION

E.P.S. Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03032466

Registered office: Unit 1, Valley Park
Watermills Road
Chesterton
Newcastle-under-Lyme
Staffordshire
ST5 6AT

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 as modified by the revaluation of certain assets.

Income recognition
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Other income
Other income consists of:
i) Rental income recognised as accrued over the period of the lease
ii) Income received from investments in shares, recognised when due

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


E.P.S. Products Limited (Registered number: 03032466)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 30 June 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 period 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.

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.

Investments
Investments in shares are included at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2022 925,000 22,587 41,305 2,990 991,882
Additions - - - 465 465
At 30 June 2023 925,000 22,587 41,305 3,455 992,347
DEPRECIATION
At 1 January 2022 65,488 4,675 41,305 2,750 114,218
Charge for period 24,558 2,192 - 213 26,963
At 30 June 2023 90,046 6,867 41,305 2,963 141,181
NET BOOK VALUE
At 30 June 2023 834,954 15,720 - 492 851,166
At 31 December 2021 859,512 17,912 - 240 877,664

Included in cost or valuation of land and buildings is freehold land of £ 106,412 (2021 - £ 106,412 ) which is not depreciated.

Cost or valuation at 30 June 2023 is represented by:

Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Valuation in 2011 119,587 - - - 119,587
Valuation in 2017 168,433 - - - 168,433
Cost 636,980 22,587 41,305 3,455 704,327
925,000 22,587 41,305 3,455 992,347

E.P.S. Products Limited (Registered number: 03032466)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2021
£    £   
Cost 636,980 636,980

Land and buildings were valued on an open market basis on 18 September 2017 by Butters John Bee .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Other debtors 481,167 1,139,308

6. CURRENT ASSET INVESTMENTS
2023 2021
£    £   
Unlisted investments 7,629 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 10,648 10,648
Taxation and social security 10,734 3,726
Other creditors 40,583 683,842
61,965 698,216

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 18,745 33,830

9. RESERVES
Non
distributable
reserves
£   
At 1 January 2022 412,222
Depreciation (13,183 )

At 30 June 2023 399,039