Caseware UK (AP4) 2023.0.135 2023.0.135 22023-01-01falseNo description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11070906 2023-01-01 2023-09-30 11070906 2022-01-01 2022-12-31 11070906 2023-09-30 11070906 2022-12-31 11070906 c:Director2 2023-01-01 2023-09-30 11070906 d:MotorVehicles 2023-01-01 2023-09-30 11070906 d:MotorVehicles 2023-09-30 11070906 d:MotorVehicles 2022-12-31 11070906 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-09-30 11070906 d:OfficeEquipment 2023-01-01 2023-09-30 11070906 d:OfficeEquipment 2023-09-30 11070906 d:OfficeEquipment 2022-12-31 11070906 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-09-30 11070906 d:OwnedOrFreeholdAssets 2023-01-01 2023-09-30 11070906 d:CurrentFinancialInstruments 2023-09-30 11070906 d:CurrentFinancialInstruments 2022-12-31 11070906 d:Non-currentFinancialInstruments 2023-09-30 11070906 d:Non-currentFinancialInstruments 2022-12-31 11070906 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11070906 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11070906 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 11070906 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11070906 d:ShareCapital 2023-09-30 11070906 d:ShareCapital 2022-12-31 11070906 d:RetainedEarningsAccumulatedLosses 2023-09-30 11070906 d:RetainedEarningsAccumulatedLosses 2022-12-31 11070906 c:OrdinaryShareClass1 2023-01-01 2023-09-30 11070906 c:OrdinaryShareClass1 2023-09-30 11070906 c:OrdinaryShareClass1 2022-12-31 11070906 c:FRS102 2023-01-01 2023-09-30 11070906 c:AuditExemptWithAccountantsReport 2023-01-01 2023-09-30 11070906 c:FullAccounts 2023-01-01 2023-09-30 11070906 c:PrivateLimitedCompanyLtd 2023-01-01 2023-09-30 11070906 2 2023-01-01 2023-09-30 11070906 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 11070906 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 11070906 d:LeasedAssetsHeldAsLessee 2023-09-30 11070906 d:LeasedAssetsHeldAsLessee 2022-12-31 11070906 e:PoundSterling 2023-01-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11070906










EPC Wheelchairs Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the period ended 30 September 2023

 
EPC Wheelchairs Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of EPC Wheelchairs Ltd for the period ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EPC Wheelchairs Ltd for the period ended 30 September 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of EPC Wheelchairs Ltd, as a body, in accordance with the terms of our engagement letter dated 6 September 2023Our work has been undertaken solely to prepare for your approval the financial statements of EPC Wheelchairs Ltd and state those matters that we have agreed to state to the Board of directors of EPC Wheelchairs Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EPC Wheelchairs Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that EPC Wheelchairs Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of EPC Wheelchairs Ltd. You consider that EPC Wheelchairs Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of EPC Wheelchairs Ltd. 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.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
26 September 2024
Page 1

 
EPC Wheelchairs Ltd
Registered number: 11070906

Balance sheet
As at 30 September 2023

30 September
31 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,654
1,381

  
25,654
1,381

Current assets
  

Stocks
  
45,424
17,725

Debtors: amounts falling due within one year
 5 
34,342
35,026

Cash at bank and in hand
  
22,650
51,674

  
102,416
104,425

Creditors: amounts falling due within one year
 6 
(123,838)
(67,114)

Net current (liabilities)/assets
  
 
 
(21,422)
 
 
37,311

Total assets less current liabilities
  
4,232
38,692

Creditors: amounts falling due after more than one year
  
(26,929)
(19,725)

  

Net (liabilities)/assets
  
(22,697)
18,967


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(22,797)
18,867

  
(22,697)
18,967


Page 2

 
EPC Wheelchairs Ltd
Registered number: 11070906

Balance sheet (continued)
As at 30 September 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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 by: 




................................................
D C Gillett
Director
Date: 25 September 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

1.


General information

EPC Wheelchairs Ltd is a private company, limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Unit 3
21 Albert Drive
Burgess Hill
United Kingdom
RH15 9TN
These financial statements are presented in sterling and are rounded to the nearest £1.

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 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.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 4

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

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.

 
2.8

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:

Motor vehicles
-
25%
Straight Line
Office 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.

 
2.9

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.

Page 5

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.14

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was 2 (2022: 4). 

Page 6

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

4.


Tangible fixed assets







Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
2,005
3,017
5,022


Additions
25,950
-
25,950



At 30 September 2023

27,955
3,017
30,972



Depreciation


At 1 January 2023
1,503
2,138
3,641


Charge for the period on owned assets
1,226
451
1,677



At 30 September 2023

2,729
2,589
5,318



Net book value



At 30 September 2023
25,226
428
25,654



At 31 December 2022
502
879
1,381

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


30 September
31 December
2023
2022
£
£



Motor vehicles
24,328
-

24,328
-

Page 7

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

5.


Debtors

30 September
31 December
2023
2022
£
£


Trade debtors
12,175
18,287

Other debtors
9,387
5,073

Prepayments and accrued income
2,693
1,579

Tax recoverable
10,087
10,087

34,342
35,026



6.


Creditors: Amounts falling due within one year

30 September
31 December
2023
2022
£
£

Bank loans
7,739
7,554

Trade creditors
50,709
24,791

Other taxation and social security
2,869
270

Obligations under finance lease and hire purchase contracts
7,188
-

Other creditors
52,333
31,872

Accruals and deferred income
3,000
2,627

123,838
67,114



7.


Creditors: Amounts falling due after more than one year

30 September
31 December
2023
2022
£
£

Bank loans
13,750
19,725

Net obligations under finance leases and hire purchase contracts
13,179
-

26,929
19,725


Page 8

 
EPC Wheelchairs Ltd
 

 
Notes to the financial statements
For the period ended 30 September 2023

8.


Share capital

30 September
31 December
2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Controlling party

At the year end the company's immediate parent was Clearwell Mobility Limited, incorporated in England, within the United Kingdom.
The ultimate controlling party is D C Gillett and N Gillett, the directors and shareholders of Clearwell Mobility Limited, the parent company.


Page 9