REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
EUROPA ENGINEERING LTD. |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
EUROPA ENGINEERING LTD. |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EUROPA ENGINEERING LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
8th Floor, Beckett House |
36 Old Jewry |
London |
EC2R 8DD |
BANKERS: |
2 Arena Court |
Sheffield |
South Yorkshire |
S9 2LF |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
BALANCE SHEET - continued |
30 SEPTEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Europa Engineering Ltd. is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The principal accounting policies adopted are set out below. |
Significant judgements and estimates |
No significant judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is recognised at the fair vale of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and rebates. |
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. |
Turnover 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. |
Turnover from contracts for the provision of engineering services is recognised by reference to the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
Tangible fixed assets |
Plant and machinery | - |
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Tangible fixed assets are disposed of over a 10 year period which is deemed to be the estimated average life of the assets. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classed and accounted for, according to the substance of the contractual arrangement, as either 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 it's liabilities. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
Consolidation |
The company is a wholly owned subsidiary. The activities of this company are included in the consolidated group accounts of the ultimate parent company, Europa Engineering Holdings Limited. These financial statements present information about the company as an individual entity and not as a parent company. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 October 2023 |
Disposals | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans and overdrafts |
Amounts received on account |
Trade creditors |
Amounts owed to group undertakings |
Corporation taxation |
Social security and other taxes |
VAT | 242,242 | 206,642 |
Other creditors |
Directors' current accounts | - | 431 |
Accruals |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans - 1-2 years |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.24 | 30.9.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
9. | LEASING AGREEMENTS - continued |
Operating lease payments represent rentals payable by the company for certain properties. One lease has been negotiated at an annual rental premium of £88,000 pa ending in 2034 with no rent review. Another at £40,000 ending in 2030 has a rent review in 2025 and with an RPI increase from 2025. Scheduled rent increases are reflected in the figures above.The latter lease is with the parent company Synergis Trading Limited. |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans |
Security is provided by a fixed and floating charge debenture together with group company cross guarantees. |
11. | PROVISIONS FOR LIABILITIES |
30.9.24 | 30.9.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Provided during year | ( |
) |
Balance at 30 September 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
EUROPA ENGINEERING LTD. (REGISTERED NUMBER: 02465896) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditor was unqualified. |
for and on behalf of |
14. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent undertaking is Synergis Trading Limited. |
The company's ultimate parent undertaking is Europa Engineering Holdings Limited whose registered office is 328 Coleford Road, Sheffield, S9 5PH. Company accounts and group accounts are held at that address. |
15. | FIXED ASSET INVESTMENTS |
The company owns 100% of the ordinary share capital of the companies set out below. All the companies were incorporated in England and Wales.They are all dormant and are held at nil value in the financial statements. |
Pattinson Brothers Limited |
Brass Founders (Sheffield) Limited |
Lifting Gear Products Limited |
Plum Alti Limited |
J T Barker and Sons Limited |
J Youle and Company Limited |
16. | SUBSEQUENT EVENTS |
On 1 October 2024, the company acquired Dale & Company (Ancoats) Limited, company number 00610341. |