Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30Provision of lab equipment52023-06-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14908878 2023-05-31 14908878 2023-06-01 2024-06-30 14908878 2022-07-01 2023-05-31 14908878 2024-06-30 14908878 c:Director3 2023-06-01 2024-06-30 14908878 d:OfficeEquipment 2023-06-01 2024-06-30 14908878 d:OfficeEquipment 2024-06-30 14908878 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-06-30 14908878 d:CurrentFinancialInstruments 2024-06-30 14908878 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14908878 d:ShareCapital 2024-06-30 14908878 d:RetainedEarningsAccumulatedLosses 2024-06-30 14908878 c:FRS102 2023-06-01 2024-06-30 14908878 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-06-30 14908878 c:FullAccounts 2023-06-01 2024-06-30 14908878 c:PrivateLimitedCompanyLtd 2023-06-01 2024-06-30 14908878 e:PoundSterling 2023-06-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 14908878






EPREP EUROPE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024










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EPREP EUROPE LIMITED
REGISTERED NUMBER:14908878

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
1,336

  
1,336

Current assets
  

Stocks
 5 
152,373

Debtors: amounts falling due within one year
 6 
181,967

Cash at bank and in hand
  
9,945

  
344,285

Creditors: amounts falling due within one year
 7 
(579,243)

Net current (liabilities)/assets
  
 
 
(234,958)

Total assets less current liabilities
  
(233,622)

Provisions for liabilities
  

Deferred tax
  
(254)

  
 
 
(254)

Net (liabilities)/assets
  
(233,876)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(233,976)

  
(233,876)

Page 1

 
EPREP EUROPE LIMITED
REGISTERED NUMBER:14908878
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



C R Jump
Director

Date: 1 April 2025

Page 2

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares and was incorporated in the United Kingdon under the Companies Act 2006 and registered in England and Wales on 1 June 2023. The address of its registered office is 356-358 Prince Avenue, Westcliff-On-Sea, Essex, SS0 0NF.
The principal activity of the company was that of provision of laboratory equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Taking into account a period exceeding 12 months from the date of approval of these financial statements, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.
The Balance Sheet shows net liabilities at the year end date. The company is reliant on the ongoing support of its parent, and the directors expect this to continue. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the period was 5.

Page 6

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
1,534



At 30 June 2024

1,534



Depreciation


Charge for the period on owned assets
198



At 30 June 2024

198



Net book value



At 30 June 2024
1,336


5.


Stocks

2024
£

Finished goods and goods for resale
152,373

152,373


Page 7

 
EPREP EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Debtors

2024
£


Trade debtors
172,946

Other debtors
2,550

Prepayments and accrued income
6,471

181,967



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
293,534

Amounts owed to group undertakings
172,266

Other creditors
92,490

Accruals and deferred income
20,953

579,243



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,860. Contributions totalling £3,793 were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

The company has taken the exemption under FRS102 paragraph 33.1A from disclosing transactions entered into between group members where the subsidiary which is party to the transaction is a wholly-owned company of the group.


10.


Controlling party

The ultimate parent company is ePrep PTY Ltd, whose registered office address is Oakleigh 3166, Victoria, Australia.
 
Page 8