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REGISTERED NUMBER: 09302382 (England and Wales)












Financial Statements

for the Year Ended 29 February 2024

for

EPI-USE Labs Limited

EPI-USE Labs Limited (Registered number: 09302382)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EPI-USE Labs Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: E Jones
R J Patrick



SECRETARY: E Jones



REGISTERED OFFICE: Suite 11n-B, Trafford House Chester Road
Stretford
Manchester
M32 0RS



REGISTERED NUMBER: 09302382 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Ashfaq Sharif BA FCA CTA



AUDITORS: PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

EPI-USE Labs Limited (Registered number: 09302382)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,118 63,584

CURRENT ASSETS
Debtors 5 5,519,330 3,644,418
Cash at bank 1,477,248 793,245
6,996,578 4,437,663
CREDITORS
Amounts falling due within one year 6 4,874,657 2,428,381
NET CURRENT ASSETS 2,121,921 2,009,282
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,187,039

2,072,866

PROVISIONS FOR LIABILITIES 11,519 11,519
NET ASSETS 2,175,520 2,061,347

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 2,175,420 2,061,247
SHAREHOLDERS' FUNDS 2,175,520 2,061,347

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





E Jones - Director


EPI-USE Labs Limited (Registered number: 09302382)

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

1. STATUTORY INFORMATION

EPI-USE Labs 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 and are presented in sterling.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised upon completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

EPI-USE Labs Limited (Registered number: 09302382)

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

2. 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.

Tangible fixed assets
Tangible fixed assets are depreciated at annual rates of 10% to 50% on cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 - 226,211 226,211
Additions 10,563 27,685 38,248
Disposals - (8,012 ) (8,012 )
At 29 February 2024 10,563 245,884 256,447
DEPRECIATION
At 1 March 2023 - 162,627 162,627
Charge for year 1,686 27,380 29,066
Eliminated on disposal - (364 ) (364 )
At 29 February 2024 1,686 189,643 191,329
NET BOOK VALUE
At 29 February 2024 8,877 56,241 65,118
At 28 February 2023 - 63,584 63,584

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,018,523 3,003,063
Amounts owed by group undertakings 140,594 552,410
Other debtors 360,213 88,945
5,519,330 3,644,418

EPI-USE Labs Limited (Registered number: 09302382)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 3,732,434 1,144,182
Taxation and social security 548,176 572,794
Other creditors 594,047 711,405
4,874,657 2,428,381

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 March 2023 2,061,247
Profit for the year 114,173
At 29 February 2024 2,175,420

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)
for and on behalf of PB Associates

EPI-USE Labs Limited (Registered number: 09302382)

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

10. RELATED PARTY DISCLOSURES

During the year the company made sales to group companies as follows:

2024 2023
£ £

EPI-USE Africa (Pty) Ltd - 18,707
EPI-USE Labs GmbH 89,027 -
EPI-USE Labs Limited AE 166,041 27,052
EPI-USE Labs LLC - 12,050
EPI-USE Labs Switzerland 865,187 -
EPI-USE Labs ZA - 38,931
EPI-USE Limited 282,913 387,169
EULabs Limited - 659,104
Group Elephant Limited (Previously EPI-USE Systems
Limited)


3,805

-
G3G - 192,941


During the year the company made purchases from group companies as follows:

2024 2023
£ £

EPI-USE Africa (Pty) Ltd 71,643 143,010
EPI-USE America 194,837 101,123
EPI-USE Cloud Services [AWS] 37,123 -
EPI-USE Labs GmbH 187,074 173,233
EPI-USE Labs LLC 160,626 10,329
EPI-USE Labs Switzerland 2,335,664 2,172,185
EPI-USE Labs ZA 50,655 64,306
EPI-USE Limited 731,052 49,176
EULabs Limited 289,630 851,209
Evolutio PS, LLC - 5,460
G3G 2,662,814 716,899

At the balance sheet date the following amounts were due to group companies:

2024 2023
£ £

EPI-USE Africa (Pty) Ltd -44,093 -27,399
EPI-USE America -5,220 -27,275
EPI-USE Cloud Services [AWS] -37,123 -
EPI-USE Labs GmbH -29,284 -14,816
EPI-USE Labs LLC -6,356 -3,016
EPI-USE Labs Switzerland -2,180,391 -794,122
EPI-USE Labs ZA -4,866 -7,758

EPI-USE Labs Limited (Registered number: 09302382)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
EPI-USE Limited -464,282 -10,058
EULabs Limited -30,463 -15,856
G3G -659,768 -191,195

At the balance sheet date the following amounts were due from group companies:

2024 2023
£ £

EPI-USE Labs GmbH 5,312 -
EPI-USE Labs Limited AE 107,479 23,575
EPI-USE Labs LLC - 13,021
EPI-USE Labs Switzerland 865,187 -
EPI-USE Labs ZA - 199
EPI-USE Limited 145,629 47,983
Group Elephant Limited (Previously EPI-USE Systems
Limited)


10,890

-


11. ULTIMATE CONTROLLING PARTY

The controlling party is Group Elephant Limited, registered in the Isle of Man.

There are a number of shareholders in Group Elephant Limited, none of whom hold a controlling interest in the company.