Challenge (Europe) Limited - Accounts to registrar (filleted)

CHALLENGE (EUROPE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

K Moorcroft

Ms N Morris

SECRETARY:

Ms N Morris

REGISTERED OFFICE:

Unit 13 Shuttleworth Road

Goldington

Bedfordshire

MK41 0EP

REGISTERED NUMBER:

04715830 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

111,143

87,195

CURRENT ASSETS

Stocks

253,302

210,324

Debtors

5

320,953

355,125

Cash at bank and in hand

369,714

330,856

943,969

896,305

CREDITORS

Amounts falling due within one year

6

237,210

234,398

NET CURRENT ASSETS

706,759

661,907

TOTAL ASSETS LESS CURRENT
LIABILITIES

817,902

749,102

PROVISIONS FOR LIABILITIES

27,786

21,798

NET ASSETS

790,116

727,304

CAPITAL AND RESERVES

Called up share capital

5,000

Retained earnings

785,116

722,304

790,116

727,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2025 and were signed on its behalf by:

Ms N Morris - Director

1.	STATUTORY INFORMATION

Challenge (Europe) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

20% on cost

Office Equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Office

and

leasehold

Equipment

fittings

£

COST

At 1st April 2024

12,310

11,348

55,975

Additions

-

1,340

2,099

Disposals

-

At 31st March 2025

12,310

12,688

58,074

DEPRECIATION

At 1st April 2024

11,713

3,975

36,250

Charge for year

312

1,100

3,204

Eliminated on disposal

-

At 31st March 2025

12,025

5,075

39,454

NET BOOK VALUE

At 31st March 2025

285

7,613

18,620

At 31st March 2024

597

7,373

19,725

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1st April 2024

64,523

44,301

188,457

Additions

50,904

902

55,245

Disposals

(33,501

)

-

(33,501

)

At 31st March 2025

81,926

45,203

210,201

DEPRECIATION

At 1st April 2024

17,844

31,480

101,262

Charge for year

7,815

2,020

14,451

Eliminated on disposal

(16,655

)

-

(16,655

)

At 31st March 2025

9,004

33,500

99,058

NET BOOK VALUE

At 31st March 2025

72,922

11,703

111,143

At 31st March 2024

46,679

12,821

87,195

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade debtors

312,665

349,012

Amounts owed by group undertakings

2,148

-

Prepayments

6,140

6,113

320,953

355,125

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade creditors

70,396

59,669

Corporation tax

90,543

97,490

VAT

27,771

27,739

Directors' current accounts

8,000

Accrued expenses

40,500

41,500

237,210

234,398

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Challenge (Europe) Limited for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Challenge (Europe) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Challenge (Europe) Limited and state those matters that we have agreed to state to the Board of Directors of Challenge (Europe) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Challenge (Europe) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Challenge (Europe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Challenge (Europe) Limited. You consider that Challenge (Europe) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Challenge (Europe) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

11th November 2025