Company registration number 13172809 (England and Wales)
EPR INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
EPR INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
EPR INVESTMENTS LTD
BALANCE SHEET
AS AT
5 APRIL 2023
05 April 2023
- 1 -
5 April 2023
28 February 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,969
1,921
Investment property
5
1,764,781
1,154,773
Investments
6
5,457
1,772,207
1,156,694
Current assets
Debtors
7
6,917
Cash at bank and in hand
604,845
230,087
611,762
230,087
Creditors: amounts falling due within one year
8
(837,810)
(12,576)
Net current (liabilities)/assets
(226,048)
217,511
Total assets less current liabilities
1,546,159
1,374,205
Creditors: amounts falling due after more than one year
9
(1,567,522)
(1,378,509)
Net liabilities
(21,363)
(4,304)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(21,463)
(4,404)
Total equity
(21,363)
(4,304)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EPR INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2023
05 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 December 2023 and are signed on its behalf by:
Mr T W Knight
Director
Company registration number 13172809 (England and Wales)
EPR INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023
- 3 -
1
Accounting policies
Company information
EPR Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Teaslewood, Main Street, Wilson, Melbourne, Derbyshire, DE73 8AD.
1.1
Reporting period
During the period, the company's Accounting Reference Date was extended to 5 April 2023 for the purposes of investment valuation.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.
These financial statements for the period ended 5 April 2023 are the first financial statements of EPR Investments Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 March 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Turnover from property rental is recognised when due and receivable.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
3 years straight line
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.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
EPR INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.8
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 current liabilities.
1.9
Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
EPR INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2023
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
1,933
Additions
1,038
At 5 April 2023
2,971
Depreciation and impairment
At 1 March 2022
12
Depreciation charged in the period
990
At 5 April 2023
1,002
Carrying amount
At 5 April 2023
1,969
At 28 February 2022
1,921
EPR INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2023
- 6 -
5
Investment property
2023
£
Fair value
At 1 March 2022
1,154,773
Additions
610,008
At 5 April 2023
1,764,781
Investment property comprises property at Forbes Park, Long Eaton and is stated at cost. The directors believe the current market value, by reference to transaction prices for similar properties, is not materially different.
6
Fixed asset investments
2023
2022
£
£
Other investments other than loans
5,457
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 March 2022
-
Additions
564,256
Valuation changes
(1,906)
Disposals
(556,893)
At 5 April 2023
5,457
Carrying amount
At 5 April 2023
5,457
At 28 February 2022
-
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
6,917
EPR INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2023
- 7 -
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
834,047
Taxation and social security
765
10,499
Other creditors
2,998
2,077
837,810
12,576
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,567,522
1,378,509