EPC Scotland Limited SC337317 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of technical testing and energy performance certificates. Digita Accounts Production Advanced 6.30.9574.0 true true SC337317 2023-03-01 2024-02-29 SC337317 2024-02-29 SC337317 bus:OrdinaryShareClass1 2024-02-29 SC337317 bus:OrdinaryShareClass2 2024-02-29 SC337317 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-02-29 SC337317 core:CurrentFinancialInstruments 2024-02-29 SC337317 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 SC337317 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 SC337317 core:FurnitureFittingsToolsEquipment 2024-02-29 SC337317 bus:SmallEntities 2023-03-01 2024-02-29 SC337317 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC337317 bus:FilletedAccounts 2023-03-01 2024-02-29 SC337317 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC337317 bus:RegisteredOffice 2023-03-01 2024-02-29 SC337317 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 SC337317 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 SC337317 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 SC337317 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC337317 bus:Agent1 2023-03-01 2024-02-29 SC337317 core:FurnitureFittings 2023-03-01 2024-02-29 SC337317 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 SC337317 core:OfficeEquipment 2023-03-01 2024-02-29 SC337317 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 SC337317 countries:Scotland 2023-03-01 2024-02-29 SC337317 2023-02-28 SC337317 core:FurnitureFittingsToolsEquipment 2023-02-28 SC337317 2022-03-01 2023-02-28 SC337317 2023-02-28 SC337317 bus:OrdinaryShareClass1 2023-02-28 SC337317 bus:OrdinaryShareClass2 2023-02-28 SC337317 core:CurrentFinancialInstruments 2023-02-28 SC337317 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 SC337317 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 SC337317 core:FurnitureFittingsToolsEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC337317

EPC Scotland Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

EPC Scotland Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 11

 

EPC Scotland Limited

Company Information

Director

Mr B Walls

Company secretary

Mr B Walls

Registered office

 

70 Scott Brae
Ladywell
Livingston
West Lothian
EH54 6ZX

Accountants

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
EPC Scotland Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of EPC Scotland Limited for the year ended 29 February 2024 as set out on pages 3 to 11 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of EPC Scotland Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of EPC Scotland Limited and state those matters that we have agreed to state to the Board of Directors of EPC Scotland Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EPC Scotland Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that EPC Scotland Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of EPC Scotland Limited. You consider that EPC Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of EPC Scotland Limited. 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 accounts.

......................................

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

28 November 2024

 

EPC Scotland Limited

(Registration number: SC337317)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

748

1,494

Other financial assets

5

798

798

 

1,546

2,292

Current assets

 

Stocks

43,323

4,993

Debtors

6

53,819

62,890

Cash at bank and in hand

 

1,480

2,595

 

98,622

70,478

Creditors: Amounts falling due within one year

7

(59,040)

(44,371)

Net current assets

 

39,582

26,107

Total assets less current liabilities

 

41,128

28,399

Creditors: Amounts falling due after more than one year

7

(22,673)

(27,004)

Provisions for liabilities

(187)

(373)

Net assets

 

18,268

1,022

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

17,268

22

Shareholders' funds

 

18,268

1,022

For the financial year ending 29 February 2024 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.

 

EPC Scotland Limited

(Registration number: SC337317)
Balance Sheet as at 29 February 2024

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 28 November 2024
 

.........................................
Mr B Walls
Company secretary and director

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
70 Scott Brae
Ladywell
Livingston
West Lothian
EH54 6ZX

These financial statements were authorised for issue by the director on 28 November 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from technical testing and energy performance certificates. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% on cost

Office Equipment

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

2,329

2,329

Additions

996

996

Disposals

(1,991)

(1,991)

At 29 February 2024

1,334

1,334

Depreciation

At 1 March 2023

835

835

Charge for the year

249

249

Eliminated on disposal

(498)

(498)

At 29 February 2024

586

586

Carrying amount

At 29 February 2024

748

748

At 28 February 2023

1,494

1,494

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2023

798

798

At 29 February 2024

798

798

Impairment

Carrying amount

At 29 February 2024

798

798

6

Debtors

2024
£

2023
£

Trade debtors

53,819

6,828

Other debtors

-

56,062

53,819

62,890

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7,083

7,094

Taxation and social security

 

51,867

37,277

Other creditors

 

90

-

 

59,040

44,371

 

EPC Scotland Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

22,673

27,004

The bank loan is supported by a 100% guarantee from the UK Government.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

500

500

500

500

Ordinary B shares of £1 each

500

500

500

500

1,000

1,000

1,000

1,000

9

Related party transactions

The company operates a loan account with the director, Mr B Walls.

During the year, the director repaid loans totalling £24,955 to the company. At the year end, the balance due to/(from) the director was £90 (2023 - (£24,865)). This loan is unsecured, interest free and has no fixed repayment terms.