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REGISTERED NUMBER: 03876321 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

EUROPATCH (UK) LIMITED

EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EUROPATCH (UK) LIMITED

Company Information
for the year ended 31 December 2023







Directors: Mr Hadi Choucair
Mr Hemal Vinodkumar Patel





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 03876321 (England and Wales)





Auditors: Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor
Marlborough House, 298 Regents Park Road
Finchley
London
N3 2SZ

EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 23,881 45,471

Current assets
Stocks 69,677 48,596
Debtors 5 97,356 94,640
Cash at bank and in hand 64,827 41,275
231,860 184,511
Creditors
Amounts falling due within one year 6 643,148 632,801
Net current liabilities (411,288 ) (448,290 )
Total assets less current liabilities (387,407 ) (402,819 )

Provisions for liabilities 251 251
Net liabilities (387,658 ) (403,070 )

Capital and reserves
Called up share capital 7 1 1
Retained earnings (387,659 ) (403,071 )
Shareholders' funds (387,658 ) (403,070 )

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr Hadi Choucair - Director


EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Europatch (UK) 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 financial statements are prepared in UK Pound Sterling (£) which is the presentational and functional
currency of the company. Amounts are rounded to the nearest £.

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.

The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of the company's parent company. In the opinion of the director, the company has the support of its parent company for a period of no less than twelve months from the date of approval of these financial statements and it is therefore appropriate to adopt the going concern policy.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable

There is estimation uncertainty in calculating the holiday pay accrual. Whilst every attempt is made to ensure that the the provision is as accurate as possible, there remains a risk that the accrual does not match the level of holiday pay that ultimately proves to be payable.

Turnover
Turnover relates to the sale of goods and 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 and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 4 ) .

EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 January 2023
and 31 December 2023 89,824 18,616 108,440
Depreciation
At 1 January 2023 45,272 17,697 62,969
Charge for year 21,360 230 21,590
At 31 December 2023 66,632 17,927 84,559
Net book value
At 31 December 2023 23,192 689 23,881
At 31 December 2022 44,552 919 45,471

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 76,540 60,068
Other debtors 20,816 34,572
97,356 94,640

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 47,921 57,518
Amounts owed to group undertakings 538,984 538,984
Taxation and social security 38,043 17,916
Other creditors 18,200 18,383
643,148 632,801

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary 1 1 1

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

EUROPATCH (UK) LIMITED (REGISTERED NUMBER: 03876321)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the provisions of Section1A 'Small Entities', not to disclose related party transactions with wholly owned subsidiaries within the group.