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Company No: 03924578 (England and Wales)

# EOMAC UK LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

EOMAC UK LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

EOMAC UK LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
EOMAC UK LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | Abaida Elliott
| Matthew Elliott
| Nathaniel Elliott
| Jason Newsom

SECRETARY | Denise Fraser

REGISTERED OFFICE | C/O Evelyn Partners LLP
| Onslow House
| Onslow Street
| Guildford
| GU1 4TL
| United Kingdom

COMPANY NUMBER | 03924578 (England and Wales)

ACCOUNTANT | S&W Partners LLP
| Onslow House
| Onslow Street
| Guildford
| GU1 4TL

EOMAC UK LIMITED

## BALANCE SHEET

As at 31 December 2024
EOMAC UK LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 12 |  | 16
|  | 12 |  | 16
Current assets |  |  |  |
Stocks |  | 299,648 |  | 316,351
Debtors | 4 | 2,339,322 |  | 2,550,486
Cash at bank and in hand |  | 664,613 |  | 257,885
|  | 3,303,583 |  | 3,124,722
Creditors: amounts falling due within one year | 5 | ( 603,824) |  | ( 431,777)
Net current assets |  | 2,699,759 |  | 2,692,945
Total assets less current liabilities |  | 2,699,771 |  | 2,692,961
Net assets |  | 2,699,771 |  | 2,692,961
Capital and reserves |  |  |  |
Called-up share capital |  | 1,000 |  | 1,000
Profit and loss account |  | 2,698,771 |  | 2,691,961
Total shareholder's funds |  | 2,699,771 |  | 2,692,961

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of EOMAC UK Limited (registered number: 03924578) were approved and authorised for issue by the Board of Directors on 18 June 2025. They were signed on its behalf by:

Jason Newsom Director |

EOMAC UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
EOMAC UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

EOMAC UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Evelyn Partners LLP, Onslow House, Onslow Street, Guildford, GU1 4TL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of EOMAC UK Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.

##### Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

##### Turnover

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.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 13 |  | 11

#### 3. Tangible assets

| Fixtures and fittings |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 2,951 |  | 2,951
At 31 December 2024 | 2,951 |  | 2,951
Accumulated depreciation |  |  |
At 01 January 2024 | 2,935 |  | 2,935
Charge for the financial year | 4 |  | 4
At 31 December 2024 | 2,939 |  | 2,939
Net book value |  |  |
At 31 December 2024 | 12 |  | 12
At 31 December 2023 | 16 |  | 16

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 433,601 |  | 562,592
Amounts owed by Parent undertakings | 656,392 |  | 614,224
Amounts owed by fellow subsidiaries | 1,150,910 |  | 1,258,233
Prepayments | 97,990 |  | 114,435
Deferred tax asset | 429 |  | 1,002
| 2,339,322 |  | 2,550,486

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 143,925 |  | 122,774
Accruals | 308,299 |  | 240,907
Corporation tax | 2,178 |  | 26,661
Other taxation and social security | 147,152 |  | 38,386
Other creditors | 2,270 |  | 3,049
| 603,824 |  | 431,777

#### 6. Deferred tax

| 2024 |  | 2023
| £ |  | £
At the beginning of financial year | 1,002 |  | 10,980
Charged to the Profit and Loss Account | ( 573) |  | ( 9,978)
At the end of financial year | 429 |  | 1,002

The deferred taxation balance is made up as follows:

| 2024 |  | 2023
| £ |  | £
Accelerated capital allowances | ( 2) |  | 239
Other timing differences | 431 |  | 763
| 429 |  | 1,002

#### 7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2024 |  | 2023
| £ |  | £
within one year | 4,428 |  | 4,428
between one and five years | 7,380 |  | 11,808
| 11,808 |  | 16,236

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The company operates a defined contribution 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.
Contributions totalling £2,270 (2023: £3,049) were payable to the fund at the year end.
Contributions payable by the company for the year were £17,582 (2023: £17,029).

#### 8. Related party transactions

Other related party transactions

During the year the company received £107,323 to a company incorporated in the UAE, in which Nathaniel Elliott is a director (2023: £13,879). At the year end, £1,150,910 is due back from the company (2023: £1,258,233).

#### 9. Ultimate controlling party

Parent Company:

Eomac Ltd
Canada

The ultimate controlling party is considered to be Matthew Elliott and Nathaniel Elliott, by virtue of their shareholdings in the ultimate parent company.