Company registration number SC139668 (Scotland)
EUROGENTEC LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
EUROGENTEC LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
EUROGENTEC LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr. L Janssens
Company number
SC139668
Registered office
25 Rubislaw Terrace
Aberdeen
Scotland
AB10 1XE
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
EUROGENTEC LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
420,557
408,213
Cash at bank and in hand
313,927
243,348
734,484
651,561
Creditors: amounts falling due within one year
5
(183,721)
(163,181)
Net current assets
550,763
488,380
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
549,763
487,380
Total equity
550,763
488,380

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 10 October 2024
Mr. L Janssens
Director
Company Registration No. SC139668
EUROGENTEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Eurogentec Limited (SC139668) is a private company limited by shares incorporated in Scotland. The registered office is 25 Rubislaw Terrace, Aberdeen, Scotland, AB10 1XE. The company operates throughout the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2
Going concern

The company meets its day to day working capital requirements through an inter company account with its parent company and is therefore dependent on the continued support of its parent company. The directors are satisfied that the parent company intends to continue its support and therefore believe it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the support was not available. true

1.3
Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

EUROGENTEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

EUROGENTEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less tax in the future. Deferred tax assets are recognised when it is more likely than not that they will be recovered.

 

Deferred tax is measure on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

 

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

EUROGENTEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
13,795
-
0
Deferred tax
Origination and reversal of timing differences
7,001
17,693
Total tax charge
20,796
17,693
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
274,999
287,383
Amounts owed by group undertakings
143,090
111,285
Other debtors
2,468
2,544
420,557
401,212
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
7,001
Total debtors
420,557
408,213
EUROGENTEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,606
6,527
Corporation tax
5,795
-
0
Accruals and deferred income
169,320
156,654
183,721
163,181
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,000 ordinary of £1 each
1,000
1,000
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
8
Related party transactions

The company is a wholly owned subsidiary of Kaneka Eurogentec.

 

The company has taken advantage of the exemptions conferred in Section 33.1A of FRS102 from disclosing related party transactions with other group companies.

9
Parent company

The company's parent company is Kaneka Eurogentec, a company incorporated in Belgium.

 

The ultimate parent company is Kaneka Corporation of Osaka a company incorporated in Japan who are listed on the Tokyo stock exchange. The group's consolidated accounts can be obtained from www.kaneka.co.jp/en/ir/.

2024-03-312023-04-01false10 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr. L JanssensfalsefalseSC1396682023-04-012024-03-31SC139668bus:Director12023-04-012024-03-31SC139668bus:RegisteredOffice2023-04-012024-03-31SC1396682024-03-31SC1396682023-03-31SC139668core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC139668core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC139668core:Non-currentFinancialInstruments2024-03-31SC139668core:CurrentFinancialInstruments2023-03-31SC139668core:ShareCapital2024-03-31SC139668core:ShareCapital2023-03-31SC139668core:RetainedEarningsAccumulatedLosses2024-03-31SC139668core:RetainedEarningsAccumulatedLosses2023-03-31SC1396682022-04-012023-03-31SC139668core:UKTax2023-04-012024-03-31SC139668core:UKTax2022-04-012023-03-31SC139668core:CurrentFinancialInstruments2024-03-31SC139668core:WithinOneYear2024-03-31SC139668core:WithinOneYear2023-03-31SC139668core:AfterOneYear2024-03-31SC139668core:AfterOneYear2023-03-31SC139668bus:OrdinaryShareClass12023-04-012024-03-31SC139668bus:OrdinaryShareClass12024-03-31SC139668bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC139668bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC139668bus:FRS1022023-04-012024-03-31SC139668bus:Audited2023-04-012024-03-31SC139668bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP