Company registration number 06360385 (England and Wales)
EPOS SYSTEMS DIRECT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EPOS SYSTEMS DIRECT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EPOS SYSTEMS DIRECT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
Tangible assets
4
547
649
547
649
Current assets
Cash at bank and in hand
54
99
Creditors: amounts falling due within one year
5
(2,802)
(2,550)
Net current liabilities
(2,748)
(2,451)
Total assets less current liabilities
(2,201)
(1,802)
Provisions for liabilities
(104)
(124)
Net liabilities
(2,305)
(1,926)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(2,307)
(1,928)
Total equity
(2,305)
(1,926)
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 30 September 2023 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.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
A L Mullins
Director
Company Registration No. 06360385
EPOS SYSTEMS DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
EPOS Systems Direct Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is reliant upon the support of its directors. The financial statements have been prepared on a going concern basis on the assumption that this finance will continue to be made available to the company. The directors have no reason to believe that such financial support will not continue for the foreseeable future.true
1.3
Turnover
Turnover represents amounts receivable for goods and services provided net of VAT and trade discounts.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% Reducing balance
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
EPOS SYSTEMS DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
16,413
Amortisation and impairment
At 1 October 2022 and 30 September 2023
16,413
Carrying amount
At 30 September 2023
At 30 September 2022
EPOS SYSTEMS DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 and 30 September 2023
3,490
Depreciation and impairment
At 1 October 2022
2,841
Depreciation charged in the year
102
At 30 September 2023
2,943
Carrying amount
At 30 September 2023
547
At 30 September 2022
649
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
49
129
Other creditors
2,753
2,421
2,802
2,550
Other creditors includes an amount of £2,300 (2022 - £1,988) owed to the directors.
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2