Company Registration No. 01842950 (England and Wales)
Eurosource Limited
Accounts
for the year ended 31 March 2025
Eurosource Limited
Accounts
Contents
Eurosource Limited
Company Information
for the year ended 31 March 2025
Company Number
01842950 (England and Wales)
Registered Office
Unit 10
Block G Penmaen Ind Est
Pontllanfraith
Blackwood
NP12 2DQ
Accountants
R H Jeffs & Rowe Ltd
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
Eurosource Limited
Statement of financial position
as at 31 March 2025
Intangible assets
102,212
267,212
Cash at bank and in hand
42,527
7,879
Creditors: amounts falling due within one year
(45,378)
(119,547)
Net current assets/(liabilities)
29,792
(49,780)
Total assets less current liabilities
132,004
223,271
Creditors: amounts falling due after more than one year
(28,692)
(23,511)
Net assets
103,312
199,760
Called up share capital
187,500
187,500
Share premium
37,500
37,500
Revaluation reserve
-
165,000
Profit and loss account
(121,688)
(190,240)
Shareholders' funds
103,312
199,760
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 November 2025 and were signed on its behalf by
T S Richards
Director
Company Registration No. 01842950
Eurosource Limited
Notes to the Accounts
for the year ended 31 March 2025
Eurosource Limited is a private company, limited by shares, registered in England and Wales, registration number 01842950. The registered office is Unit 10, Block G Penmaen Ind Est, Pontllanfraith, Blackwood, NP12 2DQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years straight line
Motor vehicles
3 years straight line
Fixtures & fittings
10 years straight line
Computer equipment
5 years straight line
Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Eurosource Limited
Notes to the Accounts
for the year ended 31 March 2025
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Other
In November 2015 the company's Intellectual property (Intangible fixed assets)was the subject of an IP audit funded by the IPO (Intellectual Property Office) prepared by IP Pragmatics Ltd of London. After considering the recommendations of the report of its IP Advisors and the indicative NPV discounted cashflow estimations contained therein, the Directors have revalued their IPR assets to £250,000.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
8,000
1,500
45,346
164,684
219,530
At 31 March 2025
8,000
1,500
45,346
164,684
219,530
At 1 April 2024
8,000
1,500
40,994
163,197
213,691
Charge for the year
-
-
4,352
1,487
5,839
At 31 March 2025
8,000
1,500
45,346
164,684
219,530
At 31 March 2025
-
-
-
-
-
At 31 March 2024
-
-
4,352
1,487
5,839
Eurosource Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Trade debtors
14,084
19,904
Amounts due from group undertakings etc.
8,618
6,573
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
25,900
74,160
Amounts owed to group undertakings and other participating interests
8,033
8,195
Bank loans and overdrafts comprises money drawn down under the company's factoring arrangement.
8
Creditors: amounts falling due after more than one year
2025
2024
Allotted, called up and fully paid:
150,000 Ordinary shares of £1 each
150,000
150,000
37,500 Ordinary 'A' shares of £1 each
37,500
37,500
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
-
17,546
12,570
4,976
11
Transactions with related parties
The issued ordinary share capital of the company is owned by Sourc'D Group Ltd, company number 09506185. Creditors due over one year include £72,535 owed to Sourc'D Group Ltd, no interest has been charged on this borrowing.
Eurosource Limited
Notes to the Accounts
for the year ended 31 March 2025
12
Average number of employees
During the year the average number of employees was 1 (2024: 2).