Epicea Investments Limited
Unaudited Financial Statements
For the year ended 31 May 2024
Pages for Filing with Registrar
Company Registration No. 09609222 (England and Wales)
Epicea Investments Limited
Company Information
Directors
A Hatte
M Tadmor-Hatte
Company number
09609222
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Chartered Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Epicea Investments Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Epicea Investments Limited
Balance Sheet
As at 31 May 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
44,408
11,257
Investments
4
194,356
212,844
238,764
224,101
Current assets
Debtors
5
105,626
105,510
Cash at bank and in hand
539,176
386,756
644,802
492,266
Creditors: amounts falling due within one year
6
(174,211)
(93,191)
Net current assets
470,591
399,075
Total assets less current liabilities
709,355
623,176
Creditors: amounts falling due after more than one year
7
(28,305)
-
0
Net assets
681,050
623,176
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
680,950
623,076
Total equity
681,050
623,176

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Epicea Investments Limited
Balance Sheet (Continued)
As at 31 May 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
A Hatte
Director
Company Registration No. 09609222
Epicea Investments Limited
Notes to the Financial Statements
For the year ended 31 May 2024
Page 3
1
Accounting policies
Company information

Epicea Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer Equipment
33% Straight line
Motor vehicles
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Epicea Investments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
Page 4
1.5
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and at bank.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Epicea Investments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
Page 5
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

2024
2023
Number
Number
Total
2
2
Epicea Investments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 6
3
Tangible fixed assets
Computer Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
8,260
44,780
53,040
Additions
-
0
53,290
53,290
Disposals
-
0
(44,780)
(44,780)
At 31 May 2024
8,260
53,290
61,550
Depreciation and impairment
At 1 June 2023
8,198
33,585
41,783
Depreciation charged in the year
62
20,077
20,139
Eliminated in respect of disposals
-
0
(44,780)
(44,780)
At 31 May 2024
8,260
8,882
17,142
Carrying amount
At 31 May 2024
-
0
44,408
44,408
At 31 May 2023
62
11,195
11,257
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
194,356
212,844
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 June 2023
212,844
Valuation changes
(18,488)
At 31 May 2024
194,356
Carrying amount
At 31 May 2024
194,356
At 31 May 2023
212,844
Epicea Investments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 7
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
52,239
92,108
Other debtors
-
7,166
Prepayments and accrued income
53,387
6,236
105,626
105,510
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
164,147
55,893
Other taxation and social security
1,872
-
0
Other creditors
4,472
34,348
Accruals and deferred income
3,720
2,950
174,211
93,191
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
28,305
-
8
Called up share capital
2024
2023
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
9
Ultimate Controlling Party

The company is under the ultimate control of A Hatte by virtue of his shareholding.

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