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Registration number: 13089728

Epstein Audit And Consultancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Epstein Audit And Consultancy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Epstein Audit And Consultancy Limited

Company Information

Director

Edward Ralph Epstein

Company secretary

Joanne Epstein

Registered office

Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

Accountants

Gordon Levy Limited
Chartered Accountants
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

 

Epstein Audit And Consultancy Limited

(Registration number: 13089728)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

15,422

53,153

Cash at bank and in hand

 

3,033

22,119

 

18,455

75,272

Creditors: Amounts falling due within one year

5

(13,133)

(52,735)

Net assets

 

5,322

22,537

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

5,222

22,437

Shareholders' funds

 

5,322

22,537

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2024
 

.........................................
Edward Ralph Epstein
Director

 

Epstein Audit And Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

These financial statements were authorised for issue by the director on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Epstein Audit And Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

817

Amounts owed by related parties

8

-

23,172

Prepayments

 

-

6,000

Other debtors

 

15,422

23,164

   

15,422

53,153

 

Epstein Audit And Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,725

36,656

Accruals and deferred income

9,013

16,079

Other creditors

1,395

-

13,133

52,735

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

7

Dividends

2023

2022

£

£

Final dividend of £200.00 (2022 - £57.50) per ordinary share

20,000

5,750

 

 

The director is recommending a final dividend of £Nil (2022 - £200.00) per share totalling £Nil (2022 - £20,000.00). This dividend has not been accrued in the balance sheet.

 

Epstein Audit And Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Rendering of services

17,817

Amounts payable to related party

4,000

2022

Key management
£

Rendering of services

30,362

Amounts payable to related party

8,053

Loans to related parties

2023

Key management
£

Total
£

At start of period

23,172

23,172

Advanced

29,357

29,357

Repaid

(54,491)

(54,491)

Interest transactions

567

567

At end of period

(1,395)

(1,395)

2022

Key management
£

Total
£

At start of period

10,173

10,173

Advanced

12,091

12,091

Interest transactions

908

908

At end of period

23,172

23,172

Terms of loans to related parties

Loans to key management figure comprises amounts owed by the director. They are unsecured and repayable on demand at an interest rate of 3%.