Epsom Incentives Ltd - Accounts to registrar (filleted) - small 23.1.2

Epsom Incentives Ltd - Accounts to registrar (filleted) - small 23.1.2

EPSOM INCENTIVES LTD - Company Information

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REGISTERED NUMBER: 03151666 (England and Wales)















EPSOM INCENTIVES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023





DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN








EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EPSOM INCENTIVES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: S J Samuels





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN





REGISTERED NUMBER: 03151666 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN
1
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 17,434 6,275
17,434 6,275

CURRENT ASSETS
Debtors 6 215,451 110,658
Cash at bank and in hand 75,168 139,437
290,619 250,095
CREDITORS
Amounts falling due within one year 7 (178,401 ) (124,052 )
NET CURRENT ASSETS 112,218 126,043
TOTAL ASSETS LESS CURRENT
LIABILITIES
129,652
132,318

CREDITORS
Amounts falling due after more than one
year
8
(24,111
)
(34,022
)
NET ASSETS 105,541 98,296

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 105,441 98,196
SHAREHOLDERS' FUNDS 105,541 98,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

2 continued...
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2023 and were signed by:





S J Samuels - Director


The notes form part of these financial statements

3
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Epsom Incentives Ltd is a private company, limited by shares registered in England and Wales. The company's registered number is 03151666 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN.

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 directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of value added tax. Revenue is recognised as follows:

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the goods and collection of the related receivables is anticipated.

Service revenues are recognised as those services are provided to customers.

Intangible assets
Intangible assets relate to franchise fees paid by the company on the acquisition of a trading venture. The amount has been written off over its estimated useful life of five years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

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 statement of financial position date.


4 continued...
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the income statement in the period to which they relate.

Critical accounting estimates and judgements
There are currently no significant judgements and estimates applied by the director which are considered key to the preparation of the financial statements.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from banks.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5 continued...
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2022
and 31 January 2023 5,000
AMORTISATION
At 1 February 2022
and 31 January 2023 5,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 February 2022 46,628
Additions 13,372
At 31 January 2023 60,000
DEPRECIATION
At 1 February 2022 40,353
Charge for year 2,213
At 31 January 2023 42,566
NET BOOK VALUE
At 31 January 2023 17,434
At 31 January 2022 6,275

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 141,693 78,722
Other debtors 73,758 31,936
215,451 110,658

6 continued...
EPSOM INCENTIVES LTD (REGISTERED NUMBER: 03151666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,911 9,666
Trade creditors 99,371 86,580
Taxation and social security 43,476 18,726
Other creditors 25,643 9,080
178,401 124,052

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,111 34,022

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
S J Samuels
Balance outstanding at start of year 27,888 7,888
Amounts advanced - 20,000
Amounts repaid (20,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,888 27,888

This loan is unsecured, interest free and repayable on demand. The highest overdrawn balance in the year was £27,888 (2022 - £27,888).

7