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Company No: 11070906 (England and Wales)

EPC WHEELCHAIRS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

EPC WHEELCHAIRS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

EPC WHEELCHAIRS LTD

COMPANY INFORMATION

For the financial year ended 30 September 2024
EPC WHEELCHAIRS LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
Directors N Gillett
D C Gillett
Secretary N Gillett
Registered office Unit 3
21 Albert Drive
Burgess Hill
West Sussex
RH15 9TN
United Kingdom
Company number 11070906 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
EPC WHEELCHAIRS LTD

BALANCE SHEET

As at 30 September 2024
EPC WHEELCHAIRS LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 21,741 25,654
21,741 25,654
Current assets
Stocks 66,800 45,424
Debtors 4 31,342 34,342
Cash at bank and in hand 103,652 22,650
201,794 102,416
Creditors: amounts falling due within one year 5 ( 200,127) ( 123,838)
Net current assets/(liabilities) 1,667 (21,422)
Total assets less current liabilities 23,408 4,232
Creditors: amounts falling due after more than one year 6 ( 10,921) ( 26,929)
Net assets/(liabilities) 12,487 ( 22,697)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 12,387 ( 22,797 )
Total shareholder's funds/(deficit) 12,487 ( 22,697)

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of EPC Wheelchairs Ltd (registered number: 11070906) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

D C Gillett
Director
EPC WHEELCHAIRS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
EPC WHEELCHAIRS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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 period, unless otherwise stated.

General information and basis of accounting

EPC Wheelchairs Ltd (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 Unit 3, 21 Albert Drive, Burgess Hill, West Sussex, RH15 9TN, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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:

Vehicles 4 years straight line
Office equipment 5 years straight line

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
30.09.2024
9 month period
to 30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 October 2023 27,955 3,017 30,972
Additions 0 1,899 1,899
Disposals ( 2,005) 0 ( 2,005)
At 30 September 2024 25,950 4,916 30,866
Accumulated depreciation
At 01 October 2023 2,729 2,589 5,318
Charge for the financial year 4,862 448 5,310
Disposals ( 1,503) 0 ( 1,503)
At 30 September 2024 6,088 3,037 9,125
Net book value
At 30 September 2024 19,862 1,879 21,741
At 30 September 2023 25,226 428 25,654
Leased assets included above:
Net book value
At 30 September 2024 19,862 0 19,862
At 30 September 2023 24,328 0 24,328

4. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 17,822 12,175
Prepayments 2,022 2,693
VAT recoverable 11,098 8,987
Corporation tax 0 10,087
Other debtors 400 400
31,342 34,342

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Bank loans 8,069 7,739
Trade creditors 68,586 50,709
Amounts owed to Group undertakings 35,791 5,060
Corporation tax 11,545 0
Other taxation and social security 6,910 2,869
Obligations under finance leases and hire purchase contracts 7,189 7,188
Other creditors 62,037 50,273
200,127 123,838

6. Creditors: amounts falling due after more than one year

30.09.2024 30.09.2023
£ £
Bank loans 5,530 13,750
Obligations under finance leases and hire purchase contracts 5,391 13,179
10,921 26,929

7. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Ultimate controlling party

Parent Company:

Clearwell Mobility Limited
Unit 3, 21 Albert Drive, Burgess Hill, West Sussex, RH15 9TN

The ultimate controlling party is D C Gillett and N Gillett, the directors and shareholders of Clearwell Mobility Limited, the parent company.