Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31true2022-04-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12873628 2022-04-01 2023-03-31 12873628 2021-04-01 2022-03-31 12873628 2023-03-31 12873628 2022-03-31 12873628 c:Director1 2022-04-01 2023-03-31 12873628 d:MotorVehicles 2022-04-01 2023-03-31 12873628 d:MotorVehicles 2023-03-31 12873628 d:MotorVehicles 2022-03-31 12873628 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12873628 d:CurrentFinancialInstruments 2023-03-31 12873628 d:CurrentFinancialInstruments 2022-03-31 12873628 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12873628 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12873628 d:ShareCapital 2023-03-31 12873628 d:ShareCapital 2022-03-31 12873628 d:RetainedEarningsAccumulatedLosses 2023-03-31 12873628 d:RetainedEarningsAccumulatedLosses 2022-03-31 12873628 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12873628 c:OrdinaryShareClass1 2023-03-31 12873628 c:OrdinaryShareClass1 2022-03-31 12873628 c:FRS102 2022-04-01 2023-03-31 12873628 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12873628 c:FullAccounts 2022-04-01 2023-03-31 12873628 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12873628 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12873628














EEP DEVELOPMENTS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
EEP DEVELOPMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6


 
EEP DEVELOPMENTS LIMITED
REGISTERED NUMBER:12873628

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
108,544
-

  
108,544
-

Current assets
  

Stocks
 5 
5,992,761
5,805,562

Debtors: amounts falling due within one year
 6 
4,569,554
899,100

Cash at bank and in hand
 7 
16,867
146,431

  
10,579,182
6,851,093

Creditors: amounts falling due within one year
 8 
(10,852,904)
(6,869,365)

Net current liabilities
  
 
 
(273,722)
 
 
(18,272)

Total assets less current liabilities
  
(165,178)
(18,272)

  

Net liabilities
  
(165,178)
(18,272)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(165,278)
(18,372)

  
(165,178)
(18,272)


1

 
EEP DEVELOPMENTS LIMITED
REGISTERED NUMBER:12873628
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 profit and loss account 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 by: 




E E C Pickering
Director

Date: 26 March 2024

The notes on pages 3 to 6 form part of these financial statements.

2

 
EEP DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

EEP Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 12873628. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. 
The principal activity of the company is that of the acquisition and development of land and buildings projects for onwards rental and sale.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the parent company has confirmed to continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

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 corporation 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.

3

 
EEP DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

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.

 
2.5

Stocks

Stock of property is valued at the lower of cost and net realisable value.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).

4

 
EEP DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost


At 1 April 2022
-


Additions
144,726



At 31 March 2023

144,726



Depreciation


At 1 April 2022
-


Charge for the year
36,182



At 31 March 2023

36,182



Net book value



At 31 March 2023
108,544



At 31 March 2022
-


5.


Stocks

2023
2022
£
£

Stock of property
5,992,761
5,805,562


The stock comprised of the purchase cost of the property and its preliminary development costs.


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
899,820
899,100

Other debtors
2,749,729
-

Prepayments
1,500
-

Tax recoverable
918,505
-

4,569,554
899,100


5

 
EEP DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
16,867
146,431



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
21,433
-

Amounts owed to group undertakings
9,907,216
6,866,965

Corporation tax
918,505
-

Accruals
5,750
2,400

10,852,904
6,869,365



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



10.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 section 1A paragraph 1AC.35.
Included within other debtors at the year end is an amount of £2,721,495 (2022 - £Nil) due from the director of the company. The loan is interest free and repayable on demand.
Included within other debtors is a balance of £240 (2022 - £Nil) due from a company wholly owned by the director's close family member. The loan is interest free and repayable on demand.
 
6