24 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 198,773 198,773 198,773 85,820 4,237 90,057 90,057 85,820 xbrli:pure xbrli:shares iso4217:GBP 06460878 2022-04-01 2023-03-31 06460878 2023-03-31 06460878 2022-03-31 06460878 2021-04-01 2022-03-31 06460878 2022-03-31 06460878 2021-03-31 06460878 core:PlantMachinery 2022-04-01 2023-03-31 06460878 core:FurnitureFittings 2022-04-01 2023-03-31 06460878 bus:RegisteredOffice 2022-04-01 2023-03-31 06460878 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 06460878 bus:Director1 2022-04-01 2023-03-31 06460878 bus:Director2 2022-04-01 2023-03-31 06460878 core:PlantMachinery 2022-03-31 06460878 core:FurnitureFittings 2022-03-31 06460878 core:PlantMachinery 2023-03-31 06460878 core:FurnitureFittings 2023-03-31 06460878 core:WithinOneYear 2023-03-31 06460878 core:WithinOneYear 2022-03-31 06460878 core:AfterOneYear 2023-03-31 06460878 core:AfterOneYear 2022-03-31 06460878 core:ShareCapital 2023-03-31 06460878 core:ShareCapital 2022-03-31 06460878 core:RetainedEarningsAccumulatedLosses 2023-03-31 06460878 core:RetainedEarningsAccumulatedLosses 2022-03-31 06460878 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 06460878 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 06460878 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 06460878 core:Non-currentFinancialInstruments 2023-03-31 06460878 core:Non-currentFinancialInstruments 2022-03-31 06460878 core:PlantMachinery 2022-03-31 06460878 core:FurnitureFittings 2022-03-31 06460878 bus:SmallEntities 2022-04-01 2023-03-31 06460878 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06460878 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06460878 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06460878 bus:FullAccounts 2022-04-01 2023-03-31 06460878 core:OfficeEquipment 2022-04-01 2023-03-31 06460878 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 06460878 core:IntangibleAssetsOtherThanGoodwill 2022-03-31 06460878 core:OfficeEquipment 2022-03-31 06460878 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 06460878
EUDELO ENHANCE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
EUDELO ENHANCE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
EUDELO ENHANCE LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Dr S Williams
Dr J Williams
Registered office
63 Bondway
London
United Kingdom
SW8 1SJ
Accountants
BSG Valentine (UK) LLP
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
EUDELO ENHANCE LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
198,773
198,773
Tangible assets
6
45,008
56,673
Investments
7
90,057
85,820
---------
---------
333,838
341,266
CURRENT ASSETS
Stocks
157,800
34,195
Debtors
8
10,131
10,821
Cash at bank and in hand
197,855
262,696
---------
---------
365,786
307,712
CREDITORS: amounts falling due within one year
9
373,679
533,472
---------
---------
NET CURRENT LIABILITIES
7,893
225,760
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
325,945
115,506
CREDITORS: amounts falling due after more than one year
10
26,855
36,461
---------
---------
NET ASSETS
299,090
79,045
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
298,990
78,945
---------
--------
SHAREHOLDERS FUNDS
299,090
79,045
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EUDELO ENHANCE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Dr S Williams
Director
Company registration number: 06460878
EUDELO ENHANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 63 Bondway, London, United Kingdom, SW8 1SJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2022: 20 ).
5. Intangible assets
Intangible assets
£
Cost
At 1 April 2022 and 31 March 2023
198,773
---------
Amortisation
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
198,773
---------
At 31 March 2022
198,773
---------
Intangible assets represent an investment by the company in cyrptocurreny with a market value at 31 March 2023 of £625,537 (2022: £997,103).
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2022
79,447
14,530
281,948
375,925
Additions
13,788
13,788
--------
--------
---------
---------
At 31 March 2023
79,447
14,530
295,736
389,713
--------
--------
---------
---------
Depreciation
At 1 April 2022
46,184
11,808
261,260
319,252
Charge for the year
8,316
680
16,457
25,453
--------
--------
---------
---------
At 31 March 2023
54,500
12,488
277,717
344,705
--------
--------
---------
---------
Carrying amount
At 31 March 2023
24,947
2,042
18,019
45,008
--------
--------
---------
---------
At 31 March 2022
33,263
2,722
20,688
56,673
--------
--------
---------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 April 2022
85,820
Revaluations
4,237
--------
At 31 March 2023
90,057
--------
Impairment
At 1 April 2022 and 31 March 2023
--------
Carrying amount
At 31 March 2023
90,057
--------
At 31 March 2022
85,820
--------
8. Debtors
2023
2022
£
£
Other debtors
10,131
10,821
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,606
9,606
Amounts owed to group undertakings and undertakings in which the company has a participating interest
263,876
419,689
Corporation tax
36,638
33,668
Social security and other taxes
57,543
65,240
Other creditors
6,016
5,269
---------
---------
373,679
533,472
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,855
36,461
--------
--------
11. Controlling party
The company is a wholly owned subsidiary of Eudelo Investments Limited , a company incorporated in the United Kingdom.