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REGISTERED NUMBER: 12229044 (England and Wales)















Financial Statements for the Year Ended 30th June 2024

for

ERACO Ltd

ERACO Ltd (Registered number: 12229044)






Contents of the Financial Statements
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ERACO Ltd

Company Information
for the Year Ended 30th June 2024







DIRECTORS: P Daly
S P Cornwell
Ms S R Kay





REGISTERED OFFICE: 75 Riding House Street
London
W1W 7EJ





REGISTERED NUMBER: 12229044 (England and Wales)





AUDITORS: Moulton Johnson Limited
Chartered Accountants & Statutory Auditors
29a Crown Street
Brentwood
Essex
CM14 4BA

ERACO Ltd (Registered number: 12229044)

Balance Sheet
30th June 2024

30.6.24 30.6.23
Notes £ £
CURRENT ASSETS
Debtors 4 838,797 470,669
Cash at bank 582,482 843
1,421,279 471,512
CREDITORS
Amounts falling due within one year 5 2,125,108 1,559,604
NET CURRENT LIABILITIES (703,829 ) (1,088,092 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(703,829

)

(1,088,092

)

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (703,929 ) (1,088,192 )
SHAREHOLDERS' FUNDS (703,829 ) (1,088,092 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2024 and were signed on its behalf by:





S P Cornwell - Director


ERACO Ltd (Registered number: 12229044)

Notes to the Financial Statements
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

ERACO Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This assumes continuity of normal business activities and the realisation of assets and the settlement of liabilities in the ordinary course of business.

Notwithstanding net current liabilities of £703,829 as at 30 June 2024 the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

Through its funding from other companies within the Woods Bagot group, the company would continue to meet its liabilities as they fall due.

The other companies within the Woods Bagot group not seeking repayment of the amounts currently due to them, which at 30 June 2024 amounted to £2,090,547, and providing additional financial support during that period if required.

Woods Bagot Holdings Pty Limited has indicated its intention to continue to make available such funds as are needed by the company, and that it does not intend to seek repayment of the amounts due at the balance sheet date within the short-term.

ERACO Ltd (Registered number: 12229044)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is measured based on the consideration specified in a contract with a customer. The Company recognises revenue when it transfers control over a good or service to a customer.

The following provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, including significant payment terms and the related revenue recognition policies.

Professional services revenue
The Company performs consultancy services. These activities tend to be highly integrated and accordingly where appropriate will be accounted for as a single performance obligation. Performance obligations are fulfilled over time as the services are delivered, as the Company has a right of payment for services delivered to date together with the highly customised nature of the services provided. Consequently, the Company recognises revenue for these service contracts over time rather than at a point in time.

Variable Consideration
Where consideration in respect of a contract is variable, the expected value of revenue is only recognised when the uncertainty associated with the variable consideration is subsequently resolved, known as "constraint" requirements. The Company assesses the constraint requirements on a periodic basis when estimating variable consideration to be included in the transaction price. The estimate is based on all available information including historic performance. Where modification in design or contract requirements are entered into, the transaction price is updated to reflect these. Where the price of modification has not been confirmed, an estimate is made of the amount of revenue to recognise whilst also considering the constraint requirement.

Variable consideration such as incentives, as well as accounting for claims and variation as contract modifications which all impart a higher threshold of probability for recognition, is only recognised as revenue when it is highly probable that a significant reversal of revenue will not occur.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade debtors - 65,970
Other debtors 1,693 -
Related entities 837,075 404,699
VAT 29 -
838,797 470,669

ERACO Ltd (Registered number: 12229044)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade creditors - 24,407
VAT - 2,562
Accruals and deferred income 34,561 21,803
Related entities 2,090,547 1,510,832
2,125,108 1,559,604

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £ £
100 Ordinary 1 100 100

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

The Report of the Auditors was unqualified.

Mark Southgate ACA FCCA (Senior Statutory Auditor)
for and on behalf of Moulton Johnson Limited

ERACO Ltd (Registered number: 12229044)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

8. RELATED PARTY DISCLOSURES

Woods Bagot Europe Ltd
During the year, Woods Bagot Europe Ltd charged project fees and costs to the company amounting to £1,149,469 (2023: £661,270). Also during the year, the company charged project fees and costs to Woods Bagot Europe Ltd amounting to £160,214 (2023: £79,869). The amount due by the company to Woods Bagot Europe Ltd at 30th June 2024 amounted to £1,521,883 (2023: £1,237,208).

Woods Bagot Architectural Design Consultants (Beijing) Co Ltd
During the year, Woods Bagot Architectural Design Consultants (Beijing) Co Ltd recharged project fees and costs to the company amounting to £Nil (2023: £6,250). The amount due by the company to Woods Bagot Architectural Design Consultants (Beijing) Co Ltd at 30th June 2024 amounted to £635 (2023: £652).

ERA-CO Holdings Pty Ltd
The amount due to the company from ERA-CO Holdings Pty Ltd at 30th June 2024 amounted to £100 (2023: £100).

Woods Bagot Pty Ltd (Dubai Branch)
During the year, Woods Bagot Pty Ltd (Dubai Branch) charged project fees and costs to the company amounting to £7,976 (2023: £Nil). Also during the year, the company recharged project fees and costs to Woods Bagot Pty Ltd (Dubai Branch) amounting to £1,706,138 (2023: £Nil). The amount due to the company from Woods Bagot Pty Ltd (Dubai Branch) at 30th June 2024 amounted to £370,310 (2023: £235).

Woods Bagot New Zealand Pty Ltd
The amount due to the company from Woods Bagot New Zealand Pty Ltd at 30th June 2024 amounted to £8,422 (2023: £8,442).

Woods Bagot Asia Ltd
The amount due to the company from Woods Bagot Asia Ltd at 30th June 2024 amounted to £9,418 (2023: £9,338).

Woods Bagot North America Inc
During the year, Wood Bagot North America Inc charged project fees and costs to the company amounting to £73,231 (2023: £Nil). The amount due by the company to Woods Bagot North America at 30th June 2024 amounted to £63,729 (2023: Due to the company £8,934).

ERA CO Pty Ltd
During the year, ERA CO Pty Ltd charged project fees and costs to the company amounting to £1,983 (2023: £Nil). Also during the year, the company charged project fees and costs to ERA CO Pty Ltd amounting to £10,348 (2023: £Nil). The amount due to the company from ERA CO Pty Ltd at 30th June 2024 amounted to £147,003 (2023: £133,654).

ERACO Inc
During the year, the company charged project fees to ERACO Inc amounting to £34,754 (2023: £181,118). Also during the year, ERACO Inc recharged costs to the company amounting to £50,978 (2023: £40,121). The amount due to the company from ERACO Inc at 30th June 2024 amounted to £301,821 (2023: £243,996).

Woods Bagot Pty Ltd
During the year, Woods Bagot Pty Ltd charged project fees and costs to the company amounting to £237,190 (2023: £189,777). Also during the year, the company charged project fees and costs to Woods Bagot Pty Ltd amounting to £10,500 (2023: £3,107). The amount due by the company to Woods Bagot Pty Ltd at 30th June 2024 amounted to £485,608 (2023: £258,700).

Woods Bagot Architects PC
During the year, Woods Bagot Architects PC recharged project fees and costs to the company amounting to £4,404 (2023: £14,910). The amount due by the company to Woods Bagot Architects PC at 30th June 2024 amounted to £18,692 (2023: £14,271).

All charges between related entities have been transacted on an arm's length basis.

ERACO Ltd (Registered number: 12229044)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

9. POST BALANCE SHEET EVENTS

There are no adjusting events identified after the reporting date.

10. ULTIMATE CONTROLLING PARTY

The directors confirm that the company's ultimate parent company is Woods Bagot Holdings Proprietary Limited a company incorporated in Australia. There is no single individual having an overall controlling interest in Woods Bagot Holdings Proprietary Limited.

The largest and smallest group in which the results of the Company are consolidated is that headed by Woods Bagot Holdings Proprietary Limited. The registered office address of the ultimate parent is Mezzanine, 498 Little Collins Street, Melbourne 3000, Victoria Australia.