Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01false11true 10249965 2022-07-01 2023-12-31 10249965 2021-07-01 2022-06-30 10249965 2023-12-31 10249965 2022-06-30 10249965 c:Director1 2022-07-01 2023-12-31 10249965 c:Director1 2023-12-31 10249965 c:RegisteredOffice 2022-07-01 2023-12-31 10249965 d:CurrentFinancialInstruments 2023-12-31 10249965 d:CurrentFinancialInstruments 2022-06-30 10249965 d:Non-currentFinancialInstruments 2023-12-31 10249965 d:Non-currentFinancialInstruments 2022-06-30 10249965 c:Micro-entities 2022-07-01 2023-12-31 10249965 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-12-31 10249965 c:FullAccounts 2022-07-01 2023-12-31 10249965 c:PrivateLimitedCompanyLtd 2022-07-01 2023-12-31 10249965 e:PoundSterling 2022-07-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10249965









ECA PROCUREMENT SERVICES LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
ECA PROCUREMENT SERVICES LIMITED
 
 
COMPANY INFORMATION


Director
Kiabod Tutunian Mashad (appointed 24 June 2016)




Registered number
10249965



Registered office
1 Half Moon Street

London

England

W1J 7AY





 
ECA PROCUREMENT SERVICES LIMITED
 

CONTENTS



Page
Director's Report
Profit and Loss Account
1
Balance Sheet
2
Notes to the Financial Statements
3 - 8

Principal activity

The principal activities of the business continue to be that of procurement of goods. 

Director

The director who served during the period was:

Kiabod Tutunian Mashad (appointed 24 June 2016)


 
ECA PROCUREMENT SERVICES LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2023

2023
2022
Note

Turnover
  
369,074
-

Other income
  
-
72,790

Direct Expenses
  
(368,584)
-

Administrative Expenses
  
(50,866)
(86,626)

Loss
  
(50,376)
(13,836)

Page 1

 
ECA PROCUREMENT SERVICES LIMITED
REGISTERED NUMBER: 10249965

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
30 June
2023
2022
Note

  

Non-Current Assets
 3 
362,602
-

Current assets
 4,5 
408,375
59,429

Creditors: amounts falling due within one year
 6 
(392,741)
(88,155)

Net current assets/(liabilities)
  
 
 
15,634
 
 
(28,726)

Total assets less current liabilities
  
378,236
(28,726)

Creditors: amounts falling due after more than one year
 7 
(457,338)
-

  

Net liabilities
  
(79,102)
(28,726)


  

Capital and reserves
  
(79,102)
(28,726)


Notes


Average number of employees

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


Director's confirmations

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 period 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.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.




Kiabod Tutunian Mashad
Director

Page 2

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

ECA Procurement Limited is a private limited company incorporated on 24 Jun 2016. Registered office
address is 1 Half Moon Street, London, W1J 7AY. The company is engaged in procurement of goods. 

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 Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

 
2.8

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.

Page 5

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an
out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially
at the present value of future cash flows discounted at a market rate of interest for a similar debt
instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
 
Investments in non-derivative instruments that are equity to the issuer are measured:

at fair value with changes recognised in the Statement of Comprehensive Income if the shares
are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.
 
Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an
impairment loss is recognised in the Statement of Comprehensive Income.
 
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate
for measuring any impairment loss is the current effective interest rate determined under the
contract.
 
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between an asset's carrying amount and best estimate of the recoverable amount, which is
an approximation of the amount that the Company would receive for the asset if it were to be sold at
the balance sheet date.
 
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an 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.
 
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic
financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract
is entered into and are subsequently re-measured at their fair value. Changes in the fair value of
derivatives are recognised in profit or loss in finance costs or income as appropriate. The company
Page 6

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Fixed asset investments








Investments in subsdiaries
Loans to subsidiaries
Total




Cost or valuation


Additions
332,607
29,995
362,602



At 31 December 2023
332,607
29,995
362,602





4.


Debtors

31 December
30 June
2023
2022


Other debtors
77
-

77
-



5.


Cash and cash equivalents

31 December
30 June
2023
2022

Cash at bank and in hand
408,298
59,429

408,298
59,429


Page 7

 
ECA PROCUREMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

31 December
30 June
2023
2022

Other creditors
392,741
88,155

392,741
88,155



7.


Creditors: Amounts falling due after more than one year

31 December
30 June
2023
2022

Shareholder Loan
457,338
-

457,338
-


 
Page 8