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Registered number: 11933754














EEP GROUP HOLDINGS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
EEP GROUP HOLDINGS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
EEP GROUP HOLDINGS LIMITED
REGISTERED NUMBER:11933754

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
553
800

Investments
 6 
650
550

  
1,203
1,350

Current assets
  

Debtors: amounts falling due within one year
 7 
93,994,582
98,687,489

Cash at bank and in hand
 8 
270,220
758,500

  
94,264,802
99,445,989

Creditors: amounts falling due within one year
 9 
(8,118,398)
(20,245,053)

Net current assets
  
 
 
86,146,404
 
 
79,200,936

Total assets less current liabilities
  
86,147,607
79,202,286

Provisions for liabilities
  

Deferred tax
 10 
(13)
-

  
 
 
(13)
 
 
-

Net assets
  
86,147,594
79,202,286


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
86,147,494
79,202,186

  
86,147,594
79,202,286


1

 
EEP GROUP HOLDINGS LIMITED
REGISTERED NUMBER:11933754
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 profit and loss account 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: 




E E C Pickering
Director

Date: 26 November 2024

The notes on pages 3 to 9 form part of these financial statements.

2

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

EEP Group Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 11933754. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company is that of a holding company. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group. 
The company's functional and presentational currency is pound sterling.
 
The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation 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.

 
2.7

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:

Computer equipment
-
33%

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, 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.

4

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

 Creditors

Short-term creditors are measured at the transaction price.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.15

 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 director, during the year was 3 (2023 - 2).


4.


Dividends

2024
2023
£
£


Dividend paid
969,000
-

5

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 April 2023
5,998


Additions
829



At 31 March 2024

6,827



Depreciation


At 1 April 2023
5,198


Charge for the year
1,076



At 31 March 2024

6,274



Net book value



At 31 March 2024
553



At 31 March 2023
800


6.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 April 2023
500
50
550


Additions
100
-
100



At 31 March 2024
600
50
650





Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

EEP Invests Limited
United Kingdom
Investing in high-value assets for capital appreciation purposes
Ordinary
100%
EEP Capital Limited
United Kingdom
Financial investment and management
Ordinary
100%
6

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Subsidiary undertakings (continued)


Name

Registered office

Principal activity

Class of shares

Holding

EEP Developments Limited
United Kingdom
Acquisition and development of land and buildings projects for onwards rental and sale.
Ordinary
100%
EEP Residentials Limited
United Kingdom
Acquisition, development and management of commercial and residential properties
Ordinary
100%
EEP Racing Limited
United Kingdom
Car racing and relating activities with a view ofpromoting the interests of the EEP Group
Ordinary
100%
EEP Operations Limited
United Kingdom
Other service activities not elsewhere classified
Ordinary
100%


Associate


The following was an associate of the company:


Name

Registered office

Class of shares

Holding

Tanglewood Residencies Ltd
United Kingdom
Ordinary
50%

7

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

As restated
2024
2023
£
£


Amounts owed by group undertakings
89,479,796
85,897,063

Amounts owed by associated undertakings
1,875,552
1,873,392

Other debtors
1,751,387
9,176,853

Tax recoverable
887,847
1,740,181

93,994,582
98,687,489



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
270,220
758,500



9.


Creditors: amounts falling due within one year

2024
2023
£
£

Corporation tax
128,957
-

Other creditors
7,910,090
20,034,553

Accruals and deferred income
79,351
210,500

8,118,398
20,245,053



10.


Deferred taxation




2024


£






Charged to profit or loss
(13)



At end of year
(13)

8

 
EEP GROUP HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(138)
-

Short term timing differences
125
-

(13)
-


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,574 (2023 - £660). Contributions totalling £500 (2023 - £1,284) were payable to the fund at the balance sheet date.


13.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 section 1A paragraph 1AC.35.
At the year end is an amount of £1,875,552 (2023 - £1,873,392) owed from an associated undertaking. The loan is interest free and repayable on demand.
Included within other debtors at the year end is an amount of £NIL (2023 - £5,156,093) due from the director of the company. The loan is interest free and repayable on demand.
Included within other debtors is a balance of £1,555,336 (2023 - £1,900,000) due from a company wholly owned by the director's close family member. The loan is interest free and repayable on demand.
Included within other debtors is a balance of £NIL (2023 - £30,000) due from a close family member of the director. The loan is interest free and repayable on demand.
During the year, the company has issued a dividend of £969,000 (2023 - £NIL) to the director of the company.

 
9