Caseware UK (AP4) 2023.0.135 2023.0.135 2022-10-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04866487 2022-10-01 2024-01-31 04866487 2021-10-01 2022-09-30 04866487 2024-01-31 04866487 2022-09-30 04866487 c:CompanySecretary1 2022-10-01 2024-01-31 04866487 c:Director1 2022-10-01 2024-01-31 04866487 c:Director2 2022-10-01 2024-01-31 04866487 c:Director3 2022-10-01 2024-01-31 04866487 c:Director4 2022-10-01 2024-01-31 04866487 c:RegisteredOffice 2022-10-01 2024-01-31 04866487 c:Agent1 2022-10-01 2024-01-31 04866487 d:PlantMachinery 2022-10-01 2024-01-31 04866487 d:PlantMachinery 2024-01-31 04866487 d:PlantMachinery 2022-09-30 04866487 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2024-01-31 04866487 d:OfficeEquipment 2022-10-01 2024-01-31 04866487 d:OfficeEquipment 2024-01-31 04866487 d:OfficeEquipment 2022-09-30 04866487 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2024-01-31 04866487 d:ComputerEquipment 2022-10-01 2024-01-31 04866487 d:ComputerEquipment 2024-01-31 04866487 d:ComputerEquipment 2022-09-30 04866487 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-10-01 2024-01-31 04866487 d:OwnedOrFreeholdAssets 2022-10-01 2024-01-31 04866487 d:CurrentFinancialInstruments 2024-01-31 04866487 d:CurrentFinancialInstruments 2022-09-30 04866487 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04866487 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 04866487 d:ShareCapital 2024-01-31 04866487 d:ShareCapital 2022-09-30 04866487 d:SharePremium 2022-10-01 2024-01-31 04866487 d:ForeignCurrencyTranslationReserve 2022-10-01 2024-01-31 04866487 d:ForeignCurrencyTranslationReserve 2024-01-31 04866487 d:ForeignCurrencyTranslationReserve 2022-09-30 04866487 d:RetainedEarningsAccumulatedLosses 2022-10-01 2024-01-31 04866487 d:RetainedEarningsAccumulatedLosses 2024-01-31 04866487 d:RetainedEarningsAccumulatedLosses 2022-09-30 04866487 c:OrdinaryShareClass1 2022-10-01 2024-01-31 04866487 c:OrdinaryShareClass1 2024-01-31 04866487 c:OrdinaryShareClass1 2022-09-30 04866487 c:FRS102 2022-10-01 2024-01-31 04866487 c:AuditExemptWithAccountantsReport 2022-10-01 2024-01-31 04866487 c:FullAccounts 2022-10-01 2024-01-31 04866487 c:PrivateLimitedCompanyLtd 2022-10-01 2024-01-31 04866487 1 2022-10-01 2024-01-31 04866487 2 2022-10-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Ecomec (UK) Limited
For the period ended 31 January 2024





































Registered number: 04866487

 
Ecomec (UK) Limited
 

Company Information


Directors
Gregory Meredith 
Quentin Bodart 
Arnaud Burel 
Clare Meredith 




Company secretary
Clare Meredith



Registered number
04866487



Registered office
30 St Anthony's Road
Blundellsands

Liverpool

L23 8TP




Trading Address
4 Old Cultra Road

Holywood

BT18 0AE






Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
HSBC Bank PLC
8 Canada Square

London

E14 5HQ





 
Ecomec (UK) Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11


  
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Independent Accountant's Report to the directors of the unaudited financial statements of Ecomec (UK) Limited for the period ended 31 January 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Ecomec (UK) Limited for the period ended 31 January 2024, which comprise  the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Ecomec (UK) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Ecomec (UK) Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ecomec (UK) Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the period ended 31 January 2024 and you have acknowledged on the Balance sheet as at 31 January 2024 your duty to ensure that Ecomec (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Ecomec (UK) Limited is exempt from the statutory audit requirement for the period ended 31 January 2024.

We have not been instructed to carry out an audit or review the financial statements of Ecomec (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:  19 March 2024 
Page 1

 
Ecomec (UK) Limited
Registered number:04866487

Balance sheet
As at 31 January 2024

31 January
30 September
2024
2022
Note

Fixed assets
  

Tangible assets
 5 
3,405
2,627

  
3,405
2,627

Current assets
  

Stocks
 6 
-
53,225

Debtors: amounts falling due within one year
 7 
100,000
3,363

Cash at bank and in hand
 8 
2,151,186
1,619,732

  
2,251,186
1,676,320

Creditors: amounts falling due within one year
 9 
(544,188)
(547,719)

Net current assets
  
 
 
1,706,998
 
 
1,128,601

Total assets less current liabilities
  
1,710,403
1,131,228

Provisions for liabilities
  

Deferred tax
  
(851)
(657)

  
 
 
(851)
 
 
(657)

Net assets
  
1,709,552
1,130,571


Capital and reserves
  

Called up share capital 
 10 
360
360

Foreign exchange reserve
 11 
45,944
(30,677)

Profit and loss account
 11 
1,663,248
1,160,888

  
1,709,552
1,130,571


Page 2

 
Ecomec (UK) Limited
Registered number:04866487

Balance sheet (continued)
As at 31 January 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

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 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 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 19 March 2024   




Gregory Meredith
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Ecomec (UK) Limited
 
 
Notes to the financial statements
For the period ended 31 January 2024

1.


General information

Ecomec (UK) Limited is a private company limited by shares and incorporated in England. The registered office is 30 St Anthony's Road, Blundellsands, Liverpool L23 8TP.
During the financial period the directors made the decision to cease trading. The principal activity of the company was that of wholesale of machinery and equipment. 

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 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 (see note 3).
The financial statements have been prepared on a basis other than going concern, which is described as the break-up basis. The preparation of financial statements on a break-up basis is a departure from the requirement of FRS102 and company law to prepare financial statements on a going concern basis. This departure is made in order to comply with the overriding requirement in the Companies Act 2006 for the financial statements to give a true and fair view. The break-up basis requires the carrying value of the assets to be at the amounts they are expected to realise and liabilities include any amounts which have crystallised as a result of the decision to wind up the company. The application of the break-up basis has had no impact on the results for the year. In all other respects the financial statements have been prepared in accordance with the accounting framework.

The following principal accounting policies have been applied:

Page 4

 
Ecomec (UK) Limited
 

Notes to the financial statements
For the period ended 31 January 2024

2.Accounting policies (continued)

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
Ecomec (UK) Limited
 

Notes to the financial statements
For the period ended 31 January 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Office equipment
-
25% straight line
Computer equipment
-
20% 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.

Page 6

 
Ecomec (UK) Limited
 

Notes to the financial statements
For the period ended 31 January 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

 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.

 
2.10

 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.

 
2.11

 Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

 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.

Page 7

 
Ecomec (UK) Limited
 
 
Notes to the financial statements
For the period ended 31 January 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets. 
Carrying value of stock
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.


4.


Employees

The average monthly number of employees, including directors, during the period was 4 (2022 - 4).

Page 8

 
Ecomec (UK) Limited
 
 
Notes to the financial statements
For the period ended 31 January 2024

5.


Tangible fixed assets







Plant and machinery
Office equipment
Computer equipment
Total




Cost or valuation


At 1 October 2022
19,853
1,027
3,153
24,033


Additions
-
-
1,643
1,643


Exchange adjustments
581
30
111
722



At 31 January 2024

20,434
1,057
4,907
26,398



Depreciation


At 1 October 2022
19,853
1,027
526
21,406


Charge for the period on owned assets
-
-
947
947


Exchange adjustments
581
30
29
640



At 31 January 2024

20,434
1,057
1,502
22,993



Net book value



At 31 January 2024
-
-
3,405
3,405



At 30 September 2022
-
-
2,627
2,627


6.


Stocks

31 January
30 September
2024
2022

Finished goods and goods for resale
-
53,225

-
53,225


Page 9

 
Ecomec (UK) Limited
 
 
Notes to the financial statements
For the period ended 31 January 2024

7.


Debtors

31 January
30 September
2024
2022


Other debtors
100,000
536

Prepayments and accrued income
-
2,827

100,000
3,363



8.


Cash and cash equivalents

31 January
30 September
2024
2022

Cash at bank and in hand
2,151,186
1,619,732

2,151,186
1,619,732



9.


Creditors: Amounts falling due within one year

31 January
30 September
2024
2022

Corporation tax
513,173
300,171

Other taxation and social security
15,698
3,579

Other creditors
1,556
240,038

Accruals and deferred income
13,761
3,931

544,188
547,719


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms. Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions.


10.


Share capital

31 January
30 September
2024
2022
Allotted, called up and fully paid



360 (2022 - 360) Ordinary shares of 1.00 each
360
360


Page 10

 
Ecomec (UK) Limited
 
 
Notes to the financial statements
For the period ended 31 January 2024

11.


Reserves

Share capital

Represents the nominal value of shares that have been issued. 

Foreign exchange reserve

This includes translation differences arising from the translation of balances from Sterling (£) into Euro (€).

Profit and loss account

Includes all current and prior period profit and losses.


12.


Related party transactions

The company had the following related party transactions:
During the year the company made sales totalling €75,846 (2022: €Nil) with a company that has a common directorship. At the balance sheet date the amount owed to this company was £Nil (2022: £Nil). The loan is unsecured, interest free and repayable upon demand.


13.


Post balance sheet events

Following the period end the directors commenced the winding up of the Company. As this process has not yet commenced at year end there was no legal or constructive liability in this regard, and accordingly, no provision was made.


Page 11