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REGISTERED NUMBER: 05420197 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Epic IT Limited

Epic IT Limited (Registered number: 05420197)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Epic IT Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Stavrou
C Koumourou
O Merritt





SECRETARY: O Merritt





REGISTERED OFFICE: Unit 11 Devonshire Business Centre
Cranborne Road
Potters Bar
Hertfordshire
EN6 3JR





REGISTERED NUMBER: 05420197 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Epic IT Limited (Registered number: 05420197)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 212,416 229,976

CURRENT ASSETS
Debtors 6 1,203,379 1,270,184
Cash at bank and in hand 267,690 186,562
1,471,069 1,456,746
CREDITORS
Amounts falling due within one year 7 982,126 787,641
NET CURRENT ASSETS 488,943 669,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

701,359

899,081

CREDITORS
Amounts falling due after more than one
year

8

396,445

525,716
NET ASSETS 304,914 373,365

CAPITAL AND RESERVES
Called up share capital 9 5,100 5,100
Share premium 62,500 62,500
Retained earnings 237,314 305,765
SHAREHOLDERS' FUNDS 304,914 373,365

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.

Epic IT Limited (Registered number: 05420197)

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.

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 8 October 2024 and were signed on its behalf by:





C Koumourou - Director


Epic IT Limited (Registered number: 05420197)

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

1. STATUTORY INFORMATION

Epic IT 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

Epic IT Limited (Registered number: 05420197)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 69,155 469,536 166,563 705,254
Additions 48,053 - - 48,053
Disposals (37,000 ) - - (37,000 )
At 31 December 2023 80,208 469,536 166,563 716,307
DEPRECIATION
At 1 January 2023 69,153 311,584 94,541 475,278
Charge for year 16,017 31,590 18,005 65,612
Eliminated on disposal (36,999 ) - - (36,999 )
At 31 December 2023 48,171 343,174 112,546 503,891
NET BOOK VALUE
At 31 December 2023 32,037 126,362 54,017 212,416
At 31 December 2022 2 157,952 72,022 229,976

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 147,023 117,370
Amounts due form connected companies 1,050,053 1,045,138
Other debtors 5,000 106,373
Prepayments and accrued income 1,303 1,303
1,203,379 1,270,184

Included in amounts due from connected companies is an amount due from RYA Properties Limited amounting to £890,053 (2022 - £875,138).

Included in amounts due from connected companies is an amount due from Xenios Investment Limited amounting to £160,000 (2022 - £170,000).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 100,000 100,000
Hire purchase contracts 14,835 11,993
Trade creditors 316,801 359,496
Amounts due to connected companies 207,918 35,019
Taxation and social security 199,118 150,466
Other creditors 143,454 130,667
982,126 787,641

Epic IT Limited (Registered number: 05420197)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in amounts due to connected companies is an amount due to Avrion Networks Limited amounting to £199,183 (2022 - £26,284).

Included in amounts due to connected companies is an amount due to ACO Investments Limited amounting to £8,735 (2022 - £8,735).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 141,667 241,667
Hire purchase contracts 129,778 109,049
Other creditors 125,000 175,000
396,445 525,716

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
NIL Ordinary £1 - 5,100
2,601 A Ordinary £1 2,601 -
934 B Ordinary £1 934 -
1,565 C Ordinary £1 1,565 -
5,100 5,100

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2,601 A Ordinary £1 2,601 -
934 B Ordinary £1 934 -
1,565 C Ordinary £1 1,565 -
5,100 -

On 10 March 2023 the 5,100 Ordinary shares of £1 each were reclassified as A Ordinary A, Ordinary B and C Ordinary shares of £1 each

.