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Company registration number:
04663557
Euroframe Limited
Trading as
Euroframe Limited
Unaudited filleted financial statements
31 March 2025
Euroframe Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Euroframe Limited
Directors and other information
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Directors |
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Mark Skipper |
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Claire Loveday |
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Secretary |
Claire Loveday |
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Company number |
04663557 |
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Registered office |
20 Murrayfield Road |
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Union Park Industrial Estate |
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Fifers lane |
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Norwich |
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NR6 6NQ |
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Business address |
20 Murrayfield Road |
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Union Park Industrial Estate |
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Fifers Lane |
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Norwich |
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NR6 6NQ |
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Accountants |
i-Accounting Solutions Ltd |
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The Enterprise Centre |
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University of East Anglia |
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Norwich |
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Norfolk |
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NR4 7TJ |
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Bankers |
Barclays Bank Plc |
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Magdalen Street |
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Norwich |
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Norfolk |
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Euroframe Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Euroframe Limited
Year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Euroframe Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Euroframe Limited, as a body, in accordance with the terms of our engagement letter dated 8 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Euroframe Limited and state those matters that we have agreed to state to the board of directors of Euroframe Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Euroframe Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Euroframe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Euroframe Limited. You consider that Euroframe Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Euroframe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
i-Accounting Solutions Ltd
Chartered Certified Accountant
The Enterprise Centre
University of East Anglia
Norwich
Norfolk
NR4 7TJ
30 May 2025
Euroframe Limited
Statement of financial position
31 March 2025
|
|
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2025 |
|
|
|
2024 |
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
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|
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|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
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Tangible assets |
|
5 |
135,128 |
|
|
|
138,348 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
135,128 |
|
|
|
138,348 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
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|
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Stocks |
|
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83,121 |
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79,803 |
|
|
|
Debtors |
|
6 |
235,074 |
|
|
|
168,533 |
|
|
|
Cash at bank and in hand |
|
|
229,775 |
|
|
|
116,232 |
|
|
|
|
|
_______ |
|
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|
_______ |
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547,970 |
|
|
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364,568 |
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|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
408,664) |
|
|
|
(
268,790) |
|
|
|
|
|
_______ |
|
|
|
_______ |
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Net current assets |
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139,306 |
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95,778 |
|
|
|
|
|
_______ |
|
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_______ |
|
Total assets less current liabilities |
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|
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274,434 |
|
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234,126 |
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|
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|
|
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Creditors: amounts falling due |
|
|
|
|
|
|
|
|
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after more than one year |
|
8 |
|
|
(
29,426) |
|
|
|
(
55,133) |
|
|
|
|
|
|
|
|
|
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|
Provisions for liabilities |
|
|
|
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(
28,265) |
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(
26,398) |
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|
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|
|
|
|
|
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_______ |
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_______ |
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Net assets |
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216,743 |
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|
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152,595 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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|
100 |
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Profit and loss account |
|
|
|
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216,643 |
|
|
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152,495 |
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|
|
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_______ |
|
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_______ |
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Shareholders funds |
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|
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216,743 |
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152,595 |
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|
|
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_______ |
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_______ |
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 May 2025
, and are signed on behalf of the board by:
Mark Skipper
Claire Loveday
Director
Director
Company registration number:
04663557
Euroframe Limited
Notes to the financial statements
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Euroframe Limited, 20 Murrayfield Road, Union Park Industrial Estate, Fifers lane, Norwich, NR6 6NQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 capital allowances / depreciation timing differences at the reporting date. 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
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 stocks to their present location and condition.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, trade debtors, trade creditors, other creditors, other debtors, bank accounts etc
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2024:
14
).
5.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
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At 1 April 2024 |
20,244 |
349,732 |
17,659 |
387,635 |
|
|
|
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Additions |
- |
24,602 |
- |
24,602 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
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|
At 31 March 2025 |
20,244 |
374,334 |
17,659 |
412,237 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2024 |
- |
234,690 |
14,597 |
249,287 |
|
|
|
|
Charge for the year |
- |
27,363 |
459 |
27,822 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2025 |
- |
262,053 |
15,056 |
277,109 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2025 |
20,244 |
112,281 |
2,603 |
135,128 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2024 |
20,244 |
115,042 |
3,062 |
138,348 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Trade debtors |
|
225,702 |
156,043 |
|
Other debtors |
|
9,372 |
12,490 |
|
|
|
_______ |
_______ |
|
|
|
235,074 |
168,533 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
210 |
- |
|
Trade creditors |
|
252,742 |
180,045 |
|
Corporation tax |
|
48,610 |
20,282 |
|
Social security and other taxes |
|
42,985 |
33,399 |
|
Other creditors |
|
64,117 |
35,064 |
|
|
|
_______ |
_______ |
|
|
|
408,664 |
268,790 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Other creditors |
|
29,426 |
55,133 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Obligations under finance leases
Company lessee
The total future minimum lease payments under finance lease agreements are as follows:
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Not later than 1 year |
|
26,728 |
25,706 |
|
Later than 1 year and not later than 5 years |
|
28,405 |
55,133 |
|
|
|
_______ |
_______ |
|
|
|
55,133 |
80,839 |
|
|
|
_______ |
_______ |
|
Present value of minimum lease payments |
|
55,133 |
80,839 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Other financial commitments
Premises rental agreeement renewed for 5 years from 29 October 2022 to 29 October 2027 at an annual rent £26,728.