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Registered number: 11313353









E P GROUP HOLDINGS LIMITED







CONSOLIDATED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
E P GROUP HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
A Sheen 
K Sheen 
L Pelosi 
L Sheen 




Registered number
11313353



Registered office
Haslers
Old Station Road

Loughton

Essex

IG10 4PL




Independent auditors
Haslers

Chartered Accountants & Statutory Auditors

Old Station Road

Loughton

Essex

IG10 4PL





 
E P GROUP HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditors' report
6 - 9
Consolidated statement of income and retained earnings
10
Consolidated balance sheet
11 - 12
Company balance sheet
13
Consolidated statement of changes in equity
14
Company statement of changes in equity
15
Consolidated statement of cash flows
16 - 17
Consolidated analysis of net debt
18
Notes to the financial statements
19 - 38


 
E P GROUP HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

Introduction
 
This is a balanced and comprehensive review of the performance of the company during the year and its position
at the year end, consistent with the size and nature of the company's business and is written in the context of the
risks and uncertainties we face.

Business review
 
E P Group Holdings Limited
The company has continued to be that of a holding company and has been non-trading throughout the financial year.
Exterior Plas Limited
The company's turnover is £19.9m (2023 - £14.4m) and it achieved an operating profit of £1.4m (2023 - £1.4m) during the period when the business is facing rising costs in terms of materials and staff. The company has worked hard to focus on existing business relationships and attracting new business.
The directors are pleased to report success in improving the overall gross profit margin aided by the recruitment of new staff, a focused customer support approach and improved buying power efficiencies.
The directors are pleased to advise the company marginally exceeded budgets for the year and look forward to
building the business further.

Principal risks and uncertainties
 
The company uses various financial instruments to finance its operations. These include cash, trade debtors and
leasing.
The existence of these financial instruments exposes the company to a number of financial risks which are
described in more detail below.
The main risks arising from the companies financial instruments are liquidity risks, cashflow risk, interest rates,
price risk, credit risk, competition risk and people which are described in more detail below.
Liquidity Risk
The company seeks to manage its financial risk by ensuring sufficient liquidity is available to meet foreseeable
needs and to invest cash in assets safely and profitably. The company's policy throughout the period has been to
utilise finance facilities wherever possible and to utilise the credit terms provided.
Cashflow Risk
The business manages working capital tightly using daily, weekly and monthly key performance measurements.
Rolling forecasts are produced each month to ensure our cashflow risk is minimised.
Interest Rate Risk
The company finances its operations mainly through a bank overdraft an exposure to interest rate fluctuations is
restricted to the finance terms agreed. These risks are managed by agreed interest levels set by our suppliers.
Price Risk
We have seen a significant rise in suppliers' raw materials, costs of labour, energy, and transport where we have
absorbed these costs for for a period of time. However, the continued pressures of rising inflation had led us to
pass some of these costs to our end customers.

 
Page 1

 
E P GROUP HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Credit Risk
The principal credit risk arises from both our trade creditors and trade suppliers. The company does not take
credit insurance on trade debtors currently given the sector they operate within. Key suppliers are monitored on a
monthly basis.
Competition Risk
We adhere to our customers KPI measures and constantly scan the market environment to ensure that we are
pricing our work competitively.
People
We are exposed to a tight labour market given current market conditions and a general shortage of labour. The
success of the company is ultimately driven by its people and the environment we provide. The company's
recruitment and retention policies are embedded within its values to promote a friendly working environment and
to recognise and reward colleagues that make the company thrive through their passion in what they do,
demonstrating great work ethics, striving to be the best in class and supporting their colleagues to grow their
careers.

Financial key performance indicators
 
In additions to reviewing turnover and net profit figures, the board closely monitor KPI's principally relating to
short term and medium term liquidity, cash flow and working capital requirements.


This report was approved by the board on 8 July 2025 and signed on its behalf.



................................................
A Sheen
Director

Page 2

 
E P GROUP HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report and the financial statements for the year ended 31 August 2024.

Directors

The directors who served during the year were:

A Sheen 
K Sheen 
L Pelosi 
L Sheen 

Results and dividends

The profit for the year, after taxation, amounted to £619,909 (2023 - £730,556).

The directors recommended the payment of a dividend of £2,000 (2023 - £396,874)

Future developments

The Group has been successful sourcing additional warehousing to increase its storage and create additional manufacturing capacity.
Given the strong performance to 31st August 2024 we plan to further grow alongside seeking additional warehousing and storage facilities to continue to cope with increases in demands.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidatedfinancial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

 
E P GROUP HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

Under section 487(2) of the Companies Act 2006Haslers will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 8 July 2025 and signed on its behalf.
 





................................................
A Sheen
Director

Page 4

 
E P GROUP HOLDINGS LIMITED
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidatedfinancial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

 
E P GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E P GROUP HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of E P Group Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 August 2024, which comprise the Consolidated statement of income and retained earnings, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 August 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
E P GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E P GROUP HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 7

 
E P GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E P GROUP HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and
determined that the most significant are those that:
• had a direct effect on the determination of material amounts and disclosures in the financial statements. These
included the UK Companies Act and tax legislation etc; and
• do not have a direct effect on the financial statements but compliance with which may be fundamental to the
company’s ability to operate or to avoid a material penalty. 
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by
inquiring with the director and management. We corroborated our inquires through our review of documentation
generated and assessing the extent of compliance with the relevant laws and regulations.
We discussed amongst the audit engagement team regarding the opportunities and incentives, including
management override of controls, that may exist within the organisation for fraud and how and where fraud might
occur in the financial statements.
As a result of performing the above, we identified the greatest potential for fraud in the following areas, and our
specific procedures performed to address it are described below:
The principal risks related to inappropriate journal entries to impact the profit for the year and management bias
in accounting estimates.
Procedures performed to address these were as follows:
• Walkthrough testing was carried out to identify and assess the design effectiveness of controls, management
have in place to prevent and detect fraud,
 
Page 8

 
E P GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF E P GROUP HOLDINGS LIMITED (CONTINUED)



• Performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatements due to fraud,
• Enquiring of management as to actual and potential litigation or claims and instances of non-compliance with
laws and regulations,
• Assessing the appropriateness of significant accounting estimates such as stock provisions and challenging
any significant assumptions or judgements made by management that were indicative of potential bias.
• Reviewing revenue recognition policies and general policies in relation to cut-off. We assessed the accuracy
and completeness of the management’s estimates through developing a detailed understanding of the
agreements in place and performing detailed substantive testing which included reviewing a sample delivery
notes and sales invoices.
• Incorporating testing of manual journal entries that were posted throughout the year. We focused on material
journal entries, journal entries posted with unusual account combinations, and journal entries with specific
defined descriptions. These were scrutinised for evidence of unusual entries.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Charalambos Patsalides ACA FCCA (Senior statutory auditor)
for and on behalf of
Haslers
Chartered Accountants & Statutory Auditors
Old Station Road
Loughton
Essex
IG10 4PL

8 July 2025
Page 9

 
E P GROUP HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2024

2024
2023
Note
£
£

  

Turnover
 4 
19,897,508
14,447,728

Cost of sales
  
(16,078,358)
(11,579,401)

Gross profit
  
3,819,150
2,868,327

Administrative expenses
  
(2,715,952)
(1,839,070)

Operating profit
  
1,103,198
1,029,257

Amounts written off investments
  
-
(134,380)

Interest receivable and similar income
 8 
-
4,492

Interest payable and similar expenses
 9 
(91,835)
(56,168)

Profit before tax
  
1,011,363
843,201

Tax on profit
 10 
(391,454)
(112,645)

Profit after tax
  
619,909
730,556

  

  

Retained earnings at the beginning of the year
  
138,131
(195,550)

Profit for the year attributable to the owners of the parent
  
619,909
730,556

Dividends declared and paid
 11 
(2,000)
(396,875)

Retained earnings at the end of the year
  
756,040
138,131

Non-controlling interest at the end of the year
  


There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of income and retained earnings.

The notes on pages 19 to 38 form part of these financial statements.

Page 10

 
E P GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 11313353

CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 12 
1,356,836
1,703,262

Tangible assets
 13 
128,934
192,701

Fixed Asset Investments
 14 
96,200
-

  
1,581,970
1,895,963

Current assets
  

Stocks
 15 
425,740
481,350

Debtors: amounts falling due within one year
 16 
8,104,842
6,908,946

Cash at bank and in hand
 17 
908
908

  
8,531,490
7,391,204

Creditors: amounts falling due within one year
 18 
(5,372,733)
(4,914,156)

Net current assets
  
 
 
3,158,757
 
 
2,477,048

Total assets less current liabilities
  
4,740,727
4,373,011

Creditors: amounts falling due after more than one year
 19 
(151,933)
(370,185)

Provisions for liabilities
  

Deferred tax
 23 
(5,889)
(37,830)

  
 
 
(5,889)
 
 
(37,830)

Net assets
  
4,582,905
3,964,996


Capital and reserves
  

Called up share capital 
 24 
3,826,865
3,826,865

Profit and loss account
 25 
756,040
138,131

  
4,582,905
3,964,996


Page 11

 
E P GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 11313353
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 July 2025.




................................................
A Sheen
Director

The notes on pages 19 to 38 form part of these financial statements.

Page 12

 
E P GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 11313353

COMPANY BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 14 
3,826,864
3,826,864

  
3,826,864
3,826,864

Current assets
  

Debtors due within 1 year
 16 
33,616
33,616

  
33,616
33,616

Total assets less current liabilities
  
 
 
3,860,480
 
 
3,860,480

  

  

Net assets
  
3,860,480
3,860,480


Capital and reserves
  

Called up share capital 
 24 
3,826,865
3,826,865

Profit and loss account brought forward
  
33,615
-

Profit for the year
  
2,000
396,874

Dividends declared and paid

 11 

(2,000)
(363,259)

Profit and loss account carried forward
  
33,615
33,615

  
3,860,480
3,860,480


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 July 2025.




................................................
A Sheen
Director

The notes on pages 19 to 38 form part of these financial statements.

Page 13

 
E P GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024


Called up share capital
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£


At 1 September 2022
3,826,865
(195,550)
3,631,315
3,631,315


Comprehensive income for the year

Profit for the year
-
730,556
730,556
730,556


Contributions by and distributions to owners

Dividends: Equity capital
-
(396,875)
(396,875)
(396,875)



At 1 September 2023
3,826,865
138,131
3,964,996
3,964,996


Comprehensive income for the year

Profit for the year
-
619,909
619,909
619,909


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,000)
(2,000)
(2,000)


At 31 August 2024
3,826,865
756,040
4,582,905
4,582,905


The notes on pages 19 to 38 form part of these financial statements.

Page 14

 
E P GROUP HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2022
3,826,865
-
3,826,865


Comprehensive income for the year

Profit for the year
-
396,874
396,874


Contributions by and distributions to owners

Dividends: Equity capital
-
(363,259)
(363,259)



At 1 September 2023
3,826,865
33,615
3,860,480


Comprehensive income for the year

Profit for the year
-
2,000
2,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,000)
(2,000)


At 31 August 2024
3,826,865
33,615
3,860,480


The notes on pages 19 to 38 form part of these financial statements.

Page 15

 
E P GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
619,909
730,556

Adjustments for:

Amortisation of intangible assets
346,426
346,426

Depreciation of tangible assets
31,107
37,393

Impairments of fixed assets
163,497
134,390

Loss on disposal of tangible assets
53,608
(12,357)

Interest paid
91,835
56,167

Interest received
-
(4,492)

Taxation charge
391,454
112,645

Decrease/(increase) in stocks
55,609
(187,355)

(Increase) in debtors
(972,320)
(780,772)

(Increase) in amounts owed by groups
(223,576)
(2,140,253)

(Decrease)/increase in creditors
(122,774)
1,092,441

Increase in amounts owed to groups
60,465
-

Corporation tax (paid)
(258,076)
(34,074)

Net cash generated from operating activities

237,164
(649,285)


Cash flows from investing activities

Purchase of tangible fixed assets
(20,950)
(71,696)

Sale of tangible fixed assets
-
35,553

Sale of unlisted and other investments
-
10

Purchase of share in associates
(259,697)
-

Interest received
-
4,492

HP interest paid
(158)
(4,433)

Net cash from investing activities

(280,805)
(36,074)
Page 16

 
E P GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024


2024
2023

£
£



Cash flows from financing activities

New secured loans
727,854
615,674

Repayment of other loans
(136,364)
(131,637)

Repayment of/new finance leases
(35,807)
34,257

Dividends paid
(2,000)
(396,875)

Interest paid
(91,677)
(51,734)

Net cash used in financing activities
462,006
69,685

Net increase/(decrease) in cash and cash equivalents
418,365
(615,674)

Cash and cash equivalents at beginning of year
(1,168,341)
(552,667)

Cash and cash equivalents at the end of year
(749,976)
(1,168,341)


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
908
908

Bank overdrafts
(750,884)
(1,169,249)

(749,976)
(1,168,341)


The notes on pages 19 to 38 form part of these financial statements.

Page 17

 
E P GROUP HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 AUGUST 2024




At 1 September 2023
Cash flows
At 31 August 2024
£

£

£

Cash at bank and in hand

908

-

908

Bank overdrafts

(1,169,249)

418,365

(750,884)

Debt due after 1 year

(227,273)

136,364

(90,909)

Debt due within 1 year

(136,364)

(727,853)

(864,217)

Finance leases

(66,393)

35,807

(30,586)


(1,598,371)
(137,317)
(1,735,688)

The notes on pages 19 to 38 form part of these financial statements.

Page 18

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

E P Group Holdings Limited is a private company, limited by shares and incorporated in England and Wales with registration number 11313353. The address of the regsitered office is Old Station Road, Loughton, Essex, IG10 4PL which is also the company's place of business. The principal activity of the company continued to be that of a holding company.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The company's functional and presentational currency is GBP and the financial statements are
rounded to the nearest Pound.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 19

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Group 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.

Turnover is recognised when the company has supplied and installed of UPVC products as the
directors believe this is the date at which the significant risks and rewards of ownership have been
transferred to the buyer.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

Page 20

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year 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 corporation 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 and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.


 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 21

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.10

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.

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:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
25%
reducing balance
Imp,ments to premises
-
not depreciated

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Associates and joint ventures

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated statement of income and retained earnings includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated balance sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.
Any premium on acquisition is dealt with in accordance with the goodwill policy.

Page 22

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

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.

 
2.17

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.

 
2.18

Financial instruments

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for
Page 23

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.19

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.

Page 24

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the director is required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised, if the revision affects only that
period, or in the period of the revision and future periods, if the revision affects both current and future
periods.
The director does not believe that there have been judgements (apart from those involving estimates)
made in the process of applying the above accounting policies that have had a significant effect on
amounts recognised in the financial statements.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Window manufacture and supply
19,894,893
14,437,193

IT department
2,615
10,535

19,897,508
14,447,728


All turnover arose within the United Kingdom.


5.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors in connection with the Group in respect of:

Audit of the financial statements
18,400
12,000

Taxation compliance services
1,750
1,620

Page 25

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
1,491,234
1,462,365

Social security costs
158,542
130,131

Cost of defined contribution scheme
23,339
7,058

1,673,115
1,599,554


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Directors
38
32
4
4


7.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
43,170
52,921



8.


Interest receivable

2024
2023
£
£


Other interest receivable
-
4,492

Page 26

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
88,576
51,493

Finance leases and hire purchase contracts
158
4,433

Other interest payable
3,101
242

91,835
56,168


10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
423,395
308,515

Adjustments in respect of previous periods
-
(195,870)


Total current tax
423,395
112,645

Deferred tax


Origination and reversal of timing differences
(31,941)
-


Tax on profit
391,454
112,645
Page 27

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,011,362
843,202


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
252,841
160,208

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
69,446
64,620

Capital allowances for year in excess of depreciation
858
(11,740)

Rollover relief on profit on disposal of fixed assets
13,402
(3,089)

Adjustments to tax charge in respect of prior periods
-
(195,870)

Other differences leading to an increase (decrease) in the tax charge
86,848
98,516

Deferred tax
(31,941)
-

Total tax charge for the year
391,454
112,645


Factors that may affect future tax charges

There are no factors which may affect future tax charges.


11.


Dividends

2024
2023
£
£


Dividends
2,000
396,875

Page 28

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 September 2023
3,464,261



At 31 August 2024

3,464,261



Amortisation


At 1 September 2023
1,760,999


Charge for the year on owned assets
346,426



At 31 August 2024

2,107,425



Net book value



At 31 August 2024
1,356,836



At 31 August 2023
1,703,262



Page 29

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Tangible fixed assets

Group






Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Imp'ments to premises

£
£
£
£
£



Cost 


At 1 September 2023
329,118
592,311
9,040
37,809
38,174


Additions
4,000
16,950
-
-
-


Disposals
-
(257,511)
-
(16,292)
(38,174)



At 31 August 2024

333,118
351,750
9,040
21,517
-



Depreciation


At 1 September 2023
323,350
454,659
7,574
28,170
-


Charge for the year on owned assets
1,493
10,553
220
2,411
-


Charge for the year on financed assets
-
16,430
-
-
-


Disposals
-
(247,312)
-
(11,057)
-



At 31 August 2024

324,843
234,330
7,794
19,524
-



Net book value



At 31 August 2024
8,275
117,420
1,246
1,993
-



At 31 August 2023
5,769
137,652
1,466
9,640
38,174
Page 30

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

           13.Tangible fixed assets (continued)


Total

£



Cost 


At 1 September 2023
1,006,452


Additions
20,950


Disposals
(311,977)



At 31 August 2024

715,425



Depreciation


At 1 September 2023
813,753


Charge for the year on owned assets
14,677


Charge for the year on financed assets
16,430


Disposals
(258,369)



At 31 August 2024

586,491



Net book value



At 31 August 2024
128,934



At 31 August 2023
192,701

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
79,526
102,942

Page 31

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

14.


Fixed asset investments

Group





Investments in associates

£



Cost 


Additions
259,697



At 31 August 2024

259,697



Impairment


Charge for the period
163,497



At 31 August 2024

163,497



Net book value



At 31 August 2024
96,200



At 31 August 2023
-

Company





Investments in subsidiary companies

£



Cost 


At 1 September 2023
3,826,864



At 31 August 2024
3,826,864






Net book value



At 31 August 2024
3,826,864



At 31 August 2023
3,826,864

Page 32

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Exterior Plas Limited
Old Station Road, Loughton,Essex, IG10 4PL
Ordinary
100%

The aggregate of the share capital and reserves as at 31 August 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Exterior Plas Limited
3,226,069
966,335


15.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
425,740
481,350


The difference between purchase price or production cost of stocks and their replacement cost is not material.


16.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,408,181
1,100,153
-
-

Amounts owed by group undertakings
4,005,520
3,781,944
-
-

Other debtors
755,585
969,171
33,616
33,616

Prepayments and accrued income
1,935,556
1,057,678
-
-

8,104,842
6,908,946
33,616
33,616


The company made a contribution to the companies Employee Benefit Trust (EBT) during the year ended
31 August 2010 amounting to £500,500. A loan advanced to the company by the EBT of £500,500 (2023
- £500,500) is included within other debtors.

Page 33

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

17.


Cash and cash equivalents

Group
Group
2024
2023
£
£

Cash at bank and in hand
908
908

Less: bank overdrafts
(750,884)
(1,169,249)

(749,976)
(1,168,341)



18.


Creditors: Amounts falling due within one year

Group
Group
2024
2023
£
£

Bank overdrafts
750,884
1,169,249

Bank loans
864,217
136,364

Trade creditors
2,636,614
2,044,562

Amounts owed to group undertakings
60,465
-

Corporation tax
474,170
308,851

Other taxation and social security
84,230
46,867

Obligations under finance lease and hire purchase contracts
21,114
30,233

Other creditors
124,478
57,232

Accruals and deferred income
356,561
1,120,798

5,372,733
4,914,156


All bank loans and overdafts of the Company are secured by a fixed charge over the property, plant and
equipment, share capital and stock. There is also a floating charge over any current or future assets the
business owns which is not covered by the fixed charge.


19.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Other loans
90,909
227,273

Net obligations under finance leases and hire purchase contracts
9,472
36,160

Other creditors
51,552
106,752

151,933
370,185




Page 34

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

20.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Bank loans
864,217
136,364

Amounts falling due 1-2 years

Other loans
-
136,364

Amounts falling due 2-5 years

Other loans
90,909
90,909


955,126
363,637



21.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
21,114
30,233

Between 1-5 years
9,472
36,161

30,586
66,394

Page 35

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

22.


Financial instruments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
908
908
-
-

Financial assets that are debt instruments measured at amortised cost
6,169,286
5,851,266
33,616
33,616

6,170,194
5,852,174
33,616
33,616


Financial liabilities

Financial liabilities measured at amortised cost
(3,178,118)
(3,329,343)
-
-


Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


Financial assets that are debt instruments measured at amortised cost comprise trade debtors, amounts
owed by group undertakings, and other debtors.


Financial liabilities measured at amortised cost comprise trade creditors, amounts owed to associates, other creditors and accruals.


23.


Deferred taxation


Group



2024


£






At beginning of year
(37,830)


Charged to profit or loss
31,941



At end of year
(5,889)

Page 36

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
23.Deferred taxation (continued)

Company


2024






At end of year
-

The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
(5,889)
(37,830)


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,826,865 (2023 - 3,826,865) Ordinary shares of £1.00 each
3,826,865
3,826,865



25.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other
adjustments.


26.


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 independantly administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £23,339 (2023 - £7,508). Contributions totalling £1,949 (2023 - £982) were payable to the fund at the balance sheet date and are included in creditors.

Page 37

 
E P GROUP HOLDINGS LIMITED
 
 
 
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

27.


Commitments under operating leases

At 31 August 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
128,214
119,445

Later than 1 year and not later than 5 years
183,244
294,021

311,458
413,466


28.


Related party transactions

The Company has taken advantage of the exemption from the requirement to disclose transactions with
wholly owned Group Companies.


29.


Controlling party

The ultimate controlling party is Sutton & Tawney Group Limited.

Page 38