Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity45falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02914816 2023-04-01 2024-03-31 02914816 2022-04-01 2023-03-31 02914816 2024-03-31 02914816 2023-03-31 02914816 2022-04-01 02914816 c:Director5 2023-04-01 2024-03-31 02914816 d:PlantMachinery 2024-03-31 02914816 d:PlantMachinery 2023-03-31 02914816 d:FurnitureFittings 2023-04-01 2024-03-31 02914816 d:FurnitureFittings 2024-03-31 02914816 d:FurnitureFittings 2023-03-31 02914816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 02914816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 02914816 d:CurrentFinancialInstruments 2024-03-31 02914816 d:CurrentFinancialInstruments 2023-03-31 02914816 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02914816 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02914816 d:ShareCapital 2023-04-01 2024-03-31 02914816 d:ShareCapital 2024-03-31 02914816 d:ShareCapital 2022-04-01 2023-03-31 02914816 d:ShareCapital 2023-03-31 02914816 d:ShareCapital 2022-04-01 02914816 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 02914816 d:CapitalRedemptionReserve 2024-03-31 02914816 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 02914816 d:CapitalRedemptionReserve 2023-03-31 02914816 d:CapitalRedemptionReserve 2022-04-01 02914816 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02914816 d:RetainedEarningsAccumulatedLosses 2024-03-31 02914816 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 02914816 d:RetainedEarningsAccumulatedLosses 2023-03-31 02914816 d:RetainedEarningsAccumulatedLosses 2022-04-01 02914816 c:FRS102 2023-04-01 2024-03-31 02914816 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02914816 c:FullAccounts 2023-04-01 2024-03-31 02914816 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02914816 d:WithinOneYear 2024-03-31 02914816 d:WithinOneYear 2023-03-31 02914816 d:BetweenOneFiveYears 2024-03-31 02914816 d:BetweenOneFiveYears 2023-03-31 02914816 2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 02914816










European Merchandising Services (UK) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
European Merchandising Services (UK) Limited
Registered number: 02914816

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1
1

  
1
1

Current assets
  

Stocks
 6 
494,431
803,001

Debtors: amounts falling due within one year
 7 
668,989
711,054

Cash at bank and in hand
  
449,463
572,541

  
1,612,883
2,086,596

Creditors: amounts falling due within one year
 8 
(76,842)
(204,438)

Net current assets
  
 
 
1,536,041
 
 
1,882,158

Total assets less current liabilities
  
1,536,042
1,882,159

  

Net assets
  
1,536,042
1,882,159


Capital and reserves
  

Called up share capital 
  
23,400
23,400

Capital redemption reserve
  
12,600
12,600

Profit and loss account
  
1,500,042
1,846,159

  
1,536,042
1,882,159


The directors consider 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 directors acknowledge their 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 Takacs
Director
Date: 2 December 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 1

 
European Merchandising Services (UK) Limited
 

Statement of changes in equity
For the year ended 31 March 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
23,400
12,600
1,846,159
1,882,159


Comprehensive income for the year

Loss for the year
-
-
(221,117)
(221,117)
Total comprehensive income for the year
-
-
(221,117)
(221,117)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(125,000)
(125,000)


Total transactions with owners
-
-
(125,000)
(125,000)


At 31 March 2024
23,400
12,600
1,500,042
1,536,042


The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
European Merchandising Services (UK) Limited
 

Statement of changes in equity
For the year ended 31 March 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
23,400
12,600
2,226,282
2,262,282


Comprehensive income for the year

Loss for the year

-
-
(345,123)
(345,123)
Total comprehensive income for the year
-
-
(345,123)
(345,123)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(35,000)
(35,000)


Total transactions with owners
-
-
(35,000)
(35,000)


At 31 March 2023
23,400
12,600
1,846,159
1,882,159


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
European Merchandising Services (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

European Merchandising Services Limited ("the company") is a private company limited by shares and was incorporated in England with the registration number 02914816. The address of the registered office is 2nd Floor, 168 Shoreditch Hight Street, London, E1 6RA. 
The principal activity of the company was that of import, wholesale and online retail sale of glass and china products.  

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
European Merchandising Services (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

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.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
on reducing balance

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

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.

Page 5

 
European Merchandising Services (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Interest income

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

 
2.14

Taxation

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 income 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 5).


4.


Intangible assets



Development expenditure

£



Cost


At 1 April 2023
800



At 31 March 2024

800



Amortisation


At 1 April 2023
800



At 31 March 2024

800



Net book value



At 31 March 2024
-


Page 6

 
European Merchandising Services (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024
 
           4.Intangible assets (continued)



5.


Tangible fixed assets





Computer equipment
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
7,241
139,061
146,302



At 31 March 2024

7,241
139,061
146,302



Depreciation


At 1 April 2023
7,241
139,060
146,301



At 31 March 2024

7,241
139,060
146,301



Net book value



At 31 March 2024
-
1
1


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
494,431
803,001

494,431
803,001


Page 7

 
European Merchandising Services (UK) Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

7.


Debtors

2024
2023
£
£


Trade debtors
117,742
160,580

Amounts owed by group undertakings
513,115
513,115

Other debtors
14,347
11,801

Prepayments and accrued income
23,785
25,558

668,989
711,054



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
41,961
54,525

Corporation tax
-
36,893

Other taxation and social security
22,838
74,509

Other creditors
280
1,595

Accruals and deferred income
11,763
36,916

76,842
204,438



9.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
63,065
63,065

Later than 1 year and not later than 5 years
52,554
115,619

115,619
178,684


10.


Related party transactions

During the year the company paid a dividend of £125,000 (2023: £35,000) to it's immediate parent company European Merchandising Services Deutschland GmbH, a company registered in Germany.
The company is under the control of A Knaup, one of the directors of the company and the sole shareholder of European Merchandising Services Deutschland GmbH.


Page 8