4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC337870 2023-08-01 2024-07-31 SC337870 2024-07-31 SC337870 2023-07-31 SC337870 2022-08-01 2023-07-31 SC337870 2023-07-31 SC337870 2022-07-31 SC337870 core:FurnitureFittings 2023-08-01 2024-07-31 SC337870 core:MotorVehicles 2023-08-01 2024-07-31 SC337870 bus:Director1 2023-08-01 2024-07-31 SC337870 core:FurnitureFittings 2023-07-31 SC337870 core:MotorVehicles 2023-07-31 SC337870 core:FurnitureFittings 2024-07-31 SC337870 core:MotorVehicles 2024-07-31 SC337870 core:WithinOneYear 2024-07-31 SC337870 core:WithinOneYear 2023-07-31 SC337870 core:AfterOneYear 2024-07-31 SC337870 core:AfterOneYear 2023-07-31 SC337870 core:ShareCapital 2024-07-31 SC337870 core:ShareCapital 2023-07-31 SC337870 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC337870 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC337870 core:BetweenOneFiveYears 2024-07-31 SC337870 core:BetweenOneFiveYears 2023-07-31 SC337870 core:FurnitureFittings 2023-07-31 SC337870 core:MotorVehicles 2023-07-31 SC337870 bus:Director1 2023-07-31 SC337870 bus:Director1 2024-07-31 SC337870 bus:Director1 2022-07-31 SC337870 bus:Director1 2023-07-31 SC337870 bus:Director1 2022-08-01 2023-07-31 SC337870 bus:SmallEntities 2023-08-01 2024-07-31 SC337870 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC337870 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC337870 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC337870 bus:FullAccounts 2023-08-01 2024-07-31 SC337870 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 SC337870 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-08-01 2024-07-31 SC337870 core:FurnitureFittingsToolsEquipment 2023-07-31 SC337870 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-07-31 SC337870 core:FurnitureFittingsToolsEquipment 2024-07-31 SC337870 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-07-31 SC337870 core:FurnitureFittingsToolsEquipment core:LeasedAssetsHeldAsLessee 2024-07-31 SC337870 core:FurnitureFittingsToolsEquipment core:LeasedAssetsHeldAsLessee 2023-07-31
COMPANY REGISTRATION NUMBER: SC337870
Epos North UK Ltd
Filleted Unaudited Financial Statements
31 July 2024
Epos North UK Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
34,351
22,485
Current assets
Stocks
19,750
5,748
Debtors
6
75,847
62,513
Cash at bank and in hand
10,055
5,434
---------
--------
105,652
73,695
Creditors: amounts falling due within one year
7
129,820
90,582
---------
--------
Net current liabilities
24,168
16,887
--------
--------
Total assets less current liabilities
10,183
5,598
Creditors: amounts falling due after more than one year
8
6,162
1,444
Provisions
Taxation including deferred tax
3,919
4,100
--------
-------
Net assets
102
54
--------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
100
52
----
----
Shareholder funds
102
54
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Epos North UK Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Mr G R MacDonald
Director
Company registration number: SC337870
Epos North UK Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Lyle House, Fairways Business Park, Inverness, IV1 6AA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a profit in the year and the director anticipates that the company should continue to make profits in the future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Website
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified 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 its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Website
Total
£
£
£
£
£
Cost
At 1 August 2023
3,456
17,108
16,778
1,675
39,017
Additions
166
17,669
17,835
Disposals
( 2,132)
( 2,132)
-------
--------
--------
-------
--------
At 31 July 2024
3,622
17,108
32,315
1,675
54,720
-------
--------
--------
-------
--------
Depreciation
At 1 August 2023
2,430
2,140
10,287
1,675
16,532
Charge for the year
179
1,511
3,509
5,199
Disposals
( 1,362)
( 1,362)
-------
--------
--------
-------
--------
At 31 July 2024
2,609
3,651
12,434
1,675
20,369
-------
--------
--------
-------
--------
Carrying amount
At 31 July 2024
1,013
13,457
19,881
34,351
-------
--------
--------
-------
--------
At 31 July 2023
1,026
14,968
6,491
22,485
-------
--------
--------
-------
--------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Equipment
£
At 31 July 2024
13,728
--------
At 31 July 2023
770
--------
6. Debtors
2024
2023
£
£
Trade debtors
9,187
22,345
Other debtors
66,660
40,168
--------
--------
75,847
62,513
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
27,064
6,026
Trade creditors
50,813
40,236
Corporation tax
15,492
8,270
Social security and other taxes
25,263
27,350
Other creditors
11,188
8,700
---------
--------
129,820
90,582
---------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,479
1,444
Other creditors
3,683
-------
-------
6,162
1,444
-------
-------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
6,816
6,816
Later than 1 year and not later than 5 years
3,408
10,223
--------
--------
10,224
17,039
--------
--------
The operating lease payments recognised as an expense amounted to £6,997 (2022 - £4,544).
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G R MacDonald
29,057
49,869
( 31,464)
47,462
--------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G R MacDonald
30,650
43,822
( 45,415)
29,057
--------
--------
--------
--------
This loan is interest free and has no repayment terms.
11. Related party transactions