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REGISTERED NUMBER: 03855055 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EUTOPIA SOLUTIONS LIMITED

EUTOPIA SOLUTIONS LIMITED (REGISTERED NUMBER: 03855055)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


EUTOPIA SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr D Voice
Mr P J Hubbard
Mr A Manistre





REGISTERED OFFICE: 3rd Floor Trident House
42 - 48 Victoria Street
St Albans
Hertfordshire
AL1 3HZ





REGISTERED NUMBER: 03855055 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

EUTOPIA SOLUTIONS LIMITED (REGISTERED NUMBER: 03855055)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,390 2,254

CURRENT ASSETS
Debtors 689,237 589,007
Cash at bank 138,926 127,213
828,163 716,220
CREDITORS
Amounts falling due within one year 514,337 428,348
NET CURRENT ASSETS 313,826 287,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,216

290,126

CREDITORS
Amounts falling due after more than one
year

94,883

154,167
NET ASSETS 222,333 135,959

CAPITAL AND RESERVES
Called up share capital 744 744
Share premium 43,392 43,392
Capital redemption reserve 464 464
Retained earnings 177,733 91,359
SHAREHOLDERS' FUNDS 222,333 135,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EUTOPIA SOLUTIONS LIMITED (REGISTERED NUMBER: 03855055)

ABRIDGED BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mr A Manistre - Director


EUTOPIA SOLUTIONS LIMITED (REGISTERED NUMBER: 03855055)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Eutopia Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

EUTOPIA SOLUTIONS LIMITED (REGISTERED NUMBER: 03855055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 10,917
Additions 2,267
At 31 December 2023 13,184
DEPRECIATION
At 1 January 2023 8,663
Charge for year 1,131
At 31 December 2023 9,794
NET BOOK VALUE
At 31 December 2023 3,390
At 31 December 2022 2,254

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 179,167

Bank loans are secured by way of a fixed and floating charge over the assets held by the company.

6. RELATED PARTY DISCLOSURES

During the year, the director, Mr D Voice invoiced the company £186,191 (2022: £167,044) for consultancy services. At the balance sheet date, Mr D Voice was owed £30,101 (2022: £22,817) by the company and this balance is included within trade creditors.

At the balance sheet date, the company was owed £383,389 (2022: £262,301) by Eutopia Holdings Limited, the parent company.

At the balance sheet date, the company owed the directors £13,665 (2022- nil).