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REGISTERED NUMBER: 04645838 (England and Wales)












Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 April 2024

for

EPH Creative Limited

EPH Creative Limited (Registered number: 04645838)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


EPH Creative Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: P J Dixon
D J Dugdale
M East
Ms R L Ellis
Ms R M Graham





SECRETARY: Ms R L Ellis





REGISTERED OFFICE: Unit 760
Street 1
Thorp Arch Trading Estate
Wetherby
West Yorkshire
LS23 7FW





REGISTERED NUMBER: 04645838 (England and Wales)





AUDITORS: Beaumonts (Statutory Auditors)
8 Navigation Court
Calder Park
Wakefield
WF2 7BJ

EPH Creative Limited (Registered number: 04645838)

Strategic Report
for the year ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

For the year ending 30th April 2024, the company successfully completed its largest contract to date, contributing to a 13.9% increase in turnover. The company's strategy to expand teams and improve staff retention resulted in a 24% increase in staff-related costs. Additionally, the ongoing rise in Bank of England base rates led to a significant hike in bank borrowing costs, with a 30% year-on-year increase.

Despite the increased staff-related costs and bank borrowing costs, the company has increased retained profits year on year.

In terms of long-term bank borrowings, the company made capital repayments exceeding £465,000 before interest, reflecting a 15% year-on-year reduction in outstanding debt to HSBC.

We continue to focus on expanding our creative build services while enhancing our hire and installation offerings, leveraging our diverse range of props and furniture in tandem with the expertise of our creative installation team.

The primary risk to the future growth of EPH Creative remains the potential impact of another pandemic, which could disrupt events industry-wide.

Our investment of over £244,000 in assets for hire further strengthens our creative capabilities and ensures we maintain the market-leading quality of our products. EPH Creative remains committed to preserving its position as a leader in the themed prop rental and experiential design sector.

ON BEHALF OF THE BOARD:





Ms R M Graham - Director


31 January 2025

EPH Creative Limited (Registered number: 04645838)

Report of the Directors
for the year ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The company's principal activity is the supply of props, furniture and foliage for hire to events, occasions and live activations.

DIVIDENDS
An interim dividend of £70 per share was paid on 19 March 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 70,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

P J Dixon
D J Dugdale
M East
Ms R L Ellis
Ms R M Graham

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Beaumonts (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ms R M Graham - Director


31 January 2025

Report of the Independent Auditors to the Members of
EPH Creative Limited

Opinion
We have audited the financial statements of EPH Creative Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other matters
The financial statements of the prior period were audited by a predecessor auditor without modification on 31 January 2024.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
EPH Creative Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and its activities, we identified that the principal risks of non-compliance with laws and regulations related to breaches in health and safety law, employment law, applicable Generally Accepted Accounting Practices, the Companies Act 2006, operating licence and the UK Bribery Act, and we considered the extent to which non-compliance might have a material effect on the financial statements. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls and use of accounting estimates. Our audit procedures included:

Discussions with the directors;

Consideration of unusual costs;

Challenging assumptions and judgements made by management in determining significant accounting estimates;

Identifying and testing journal entries.

We communicated identified laws and regulations throughout our Team and remained alert to any indications of
non-compliance throughout the audit.

Owing to the inherent limitations of an audit there is unavoidable risk that we may not have detected some material
misstatements in the financial statements, even though we have properly planned and performed our audit in
accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
EPH Creative Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Philip Samuel (Senior Statutory Auditor)
for and on behalf of Beaumonts (Statutory Auditors)
8 Navigation Court
Calder Park
Wakefield
WF2 7BJ

31 January 2025

EPH Creative Limited (Registered number: 04645838)

Income Statement
for the year ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   

TURNOVER 7,664,457 6,729,381

Cost of sales 1,117,854 1,176,376
GROSS PROFIT 6,546,603 5,553,005

Administrative expenses 6,136,809 5,308,328
409,794 244,677

Other operating income 194,969 193,135
OPERATING PROFIT 4 604,763 437,812

Interest receivable and similar income 13,428 8,452
618,191 446,264

Interest payable and similar expenses 5 240,584 188,077
PROFIT BEFORE TAXATION 377,607 258,187

Tax on profit 6 113,996 59,541
PROFIT FOR THE FINANCIAL YEAR 263,611 198,646

EPH Creative Limited (Registered number: 04645838)

Other Comprehensive Income
for the year ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   

PROFIT FOR THE YEAR 263,611 198,646


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

263,611

198,646
Note
Prior year adjustment 8 8,784 42,605
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

272,395

241,251

EPH Creative Limited (Registered number: 04645838)

Balance Sheet
30 April 2024

30.4.24 30.4.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - 20,020
Tangible assets 10 4,605,596 4,640,536
4,605,596 4,660,556

CURRENT ASSETS
Stocks 11 212,278 150,994
Debtors 12 551,537 530,595
Cash at bank 287,686 453,958
1,051,501 1,135,547
CREDITORS
Amounts falling due within one year 13 2,014,154 1,974,404
NET CURRENT LIABILITIES (962,653 ) (838,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,642,943

3,821,699

CREDITORS
Amounts falling due after more than one
year

14

(2,382,083

)

(2,803,629

)

PROVISIONS FOR LIABILITIES 18 (146,010 ) (96,831 )
NET ASSETS 1,114,850 921,239

CAPITAL AND RESERVES
Called up share capital 19 1,000 1,000
Retained earnings 20 1,113,850 920,239
SHAREHOLDERS' FUNDS 1,114,850 921,239

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Ms R M Graham - Director


EPH Creative Limited (Registered number: 04645838)

Statement of Changes in Equity
for the year ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 1,000 760,988 761,988
Prior year adjustment - 42,605 42,605
As restated 1,000 803,593 804,593

Changes in equity
Dividends - (82,000 ) (82,000 )
Total comprehensive income - 189,862 189,862
Balance at 30 April 2023 1,000 911,455 912,455
Prior year adjustment - 8,784 8,784
As restated 1,000 920,239 921,239

Changes in equity
Dividends - (70,000 ) (70,000 )
Total comprehensive income - 263,611 263,611
Balance at 30 April 2024 1,000 1,113,850 1,114,850

EPH Creative Limited (Registered number: 04645838)

Cash Flow Statement
for the year ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,047,371 834,980
Interest paid (224,431 ) (171,806 )
Interest element of hire purchase payments
paid

(16,153

)

(16,271

)
Tax paid (32,985 ) (57,635 )
Net cash from operating activities 773,802 589,268

Cash flows from investing activities
Purchase of tangible fixed assets (432,378 ) (538,828 )
Sale of tangible fixed assets 2,124 8,411
Interest received 13,428 8,452
Net cash from investing activities (416,826 ) (521,965 )

Cash flows from financing activities
Loan repayments in year (465,086 ) (527,322 )
Capital repayments in year 11,838 171,065
Equity dividends paid (70,000 ) (82,000 )
Net cash from financing activities (523,248 ) (438,257 )

Decrease in cash and cash equivalents (166,272 ) (370,954 )
Cash and cash equivalents at beginning
of year

2

453,958

824,912

Cash and cash equivalents at end of year 2 287,686 453,958

EPH Creative Limited (Registered number: 04645838)

Notes to the Cash Flow Statement
for the year ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.4.24 30.4.23
as restated
£    £   
Profit before taxation 377,607 258,187
Depreciation charges 461,948 458,893
Loss on disposal of fixed assets 23,266 14,827
Finance costs 240,584 188,077
Finance income (13,428 ) (8,452 )
1,089,977 911,532
Increase in stocks (61,284 ) (26,185 )
Decrease/(increase) in trade and other debtors 12,043 (50,636 )
Increase in trade and other creditors 6,635 269
Cash generated from operations 1,047,371 834,980

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 287,686 453,958
Year ended 30 April 2023
30.4.23 1.5.22
as restated
£    £   
Cash and cash equivalents 453,958 824,912


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank 453,958 (166,272 ) 287,686
453,958 (166,272 ) 287,686
Debt
Finance leases (269,619 ) (11,838 ) (281,457 )
Debts falling due within 1 year (465,085 ) 32,083 (433,002 )
Debts falling due after 1 year (2,639,730 ) 433,003 (2,206,727 )
(3,374,434 ) 453,248 (2,921,186 )
Total (2,920,476 ) 286,976 (2,633,500 )

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

EPH Creative 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements are prepared in sterling and are rounded to the nearest £.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable relating to the period, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition on unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - 2% on cost to a residual value
Assets for hire - straight line over 3, 6 or 10 years
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
as restated
£    £   
Wages and salaries 4,023,073 3,246,024
Other pension costs 151,372 119,011
4,174,445 3,365,035

The average number of employees during the year was as follows:
30.4.24 30.4.23
as restated

Sales and Marketing 21 15
Warehouse 25 21
Production and Design 28 22
Logistics 22 21
Administration 19 18
115 97

30.4.24 30.4.23
as restated
£    £   
Directors' remuneration 316,082 275,765
Directors' pension contributions to money purchase schemes 32,043 30,400

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

3. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
as restated
£    £   
Emoluments etc 61,215 58,795
Pension contributions to money purchase schemes 12,000 12,000

4. OPERATING PROFIT

The operating profit is stated after charging:

30.4.24 30.4.23
as restated
£    £   
Depreciation - owned assets 354,424 343,017
Depreciation - assets on hire purchase contracts 87,504 75,880
Loss on disposal of fixed assets 23,266 14,827
Goodwill amortisation 20,020 39,996
Audit fees 6,500 7,766

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
as restated
£    £   
Bank loan interest 64,322 64,743
Other interest 127 -
Mortgage 159,982 107,063
Hire purchase 16,153 16,271
240,584 188,077

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
as restated
£    £   
Current tax:
UK corporation tax 64,817 -

Deferred tax 49,179 59,541
Tax on profit 113,996 59,541

7. DIVIDENDS
30.4.24 30.4.23
as restated
£    £   
Ordinary shares shares of £1 each
Interim 70,000 82,000

8. PRIOR YEAR ADJUSTMENT

Prior periods have been adjusted to re-allocate hire assets to fixed assets and in respect of income recognition.

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 200,000
AMORTISATION
At 1 May 2023 179,980
Amortisation for year 20,020
At 30 April 2024 200,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 20,020

10. TANGIBLE FIXED ASSETS
Long Assets Plant and
leasehold for hire machinery
£    £    £   
COST
At 1 May 2023 3,867,000 855,658 645,185
Additions - 244,421 114,785
Disposals - (25,738 ) (16,489 )
At 30 April 2024 3,867,000 1,074,341 743,481
DEPRECIATION
At 1 May 2023 344,072 156,336 413,454
Charge for year 57,348 197,952 79,112
Eliminated on disposal - (4,761 ) (13,492 )
At 30 April 2024 401,420 349,527 479,074
NET BOOK VALUE
At 30 April 2024 3,465,580 724,814 264,407
At 30 April 2023 3,522,928 699,322 231,731

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 260,338 491,832 158,200 6,278,213
Additions - 46,495 26,677 432,378
Disposals - - (16,189 ) (58,416 )
At 30 April 2024 260,338 538,327 168,688 6,652,175
DEPRECIATION
At 1 May 2023 211,507 387,042 125,266 1,637,677
Charge for year 31,627 46,554 29,335 441,928
Eliminated on disposal - - (14,773 ) (33,026 )
At 30 April 2024 243,134 433,596 139,828 2,046,579
NET BOOK VALUE
At 30 April 2024 17,204 104,731 28,860 4,605,596
At 30 April 2023 48,831 104,790 32,934 4,640,536

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

10. TANGIBLE FIXED ASSETS - continued

The net carrying value includes £104,731 (2023: £104,790) for motor vehicles and £205,425 (2023: £150,875) for plant and machinery in respect of assets held under finance leases or hire purchase contracts.

11. STOCKS
30.4.24 30.4.23
as restated
£    £   
Stocks 212,278 150,994

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Trade debtors 244,155 268,895
Other debtors 12,597 20,729
Tax 32,985 -
Prepayments 261,800 240,971
551,537 530,595

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Bank loans and overdrafts (see note 15) 433,002 465,085
Hire purchase contracts (see note 16) 106,101 105,720
Trade creditors 333,773 290,007
Tax 64,817 32,985
Social security and other taxes 240,266 215,554
Other creditors 836,195 865,053
2,014,154 1,974,404

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Bank loans (see note 15) 2,206,727 2,639,730
Hire purchase contracts (see note 16) 175,356 163,899
2,382,083 2,803,629

15. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 433,002 465,085

Amounts falling due between one and two years:
Bank loans - 1-2 years 433,002 433,002

Amounts falling due between two and five years:
Bank loans - 2-5 years 562,339 822,339

Amounts falling due in more than five years:

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

15. LOANS - continued
30.4.24 30.4.23
as restated
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,211,386 1,384,389

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.4.24 30.4.23
as restated
£    £   
Net obligations repayable:
Within one year 106,101 105,720
Between one and five years 175,356 163,899
281,457 269,619

17. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
as restated
£    £   
Bank loans 2,639,730 3,104,814
Hire purchase contracts 281,456 269,619
2,921,186 3,374,433

Mortgage and hire purchase contracts are secured on the assets of the company.

The mortgage is secured by fixed and floating charges covering all of the leasehold property and other assets and attracts 2.97% interest per annum over the Bank of England Base Rate.

The bank loan is unsecured and attracts 3.99% interest per annum over the Bank of England Base Rate.

18. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
as restated
£    £   
Deferred tax 146,010 96,831

Deferred
tax
£   
Balance at 1 May 2023 96,831
Charge to Income Statement during year 49,179
Balance at 30 April 2024 146,010

Deferred tax is in respect of accelerated capital allowances.

EPH Creative Limited (Registered number: 04645838)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: as restated
£    £   
1,000 Ordinary shares £1 1,000 1,000

20. RESERVES
Retained
earnings
£   

At 1 May 2023 911,455
Prior year adjustment 8,784
920,239
Profit for the year 263,611
Dividends (70,000 )
At 30 April 2024 1,113,850

21. OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet
amount to £66,615 (2023 - £67,847).