Company registration number:
for the Year Ended
EP Surgical Ltd
(Registration number: 10823510)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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EP Surgical Ltd
(Registration number: 10823510)
Balance Sheet as at 31 March 2021
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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EP Surgical Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
1 Berkeley Square
Bristol
BS8 1HL
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. This is the first year in which the financial statements have been prepared in accordance with FRS 102. There were no restatements required to the prior year as a result of transition to FRS 102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Turnover is recognised when the services have been provided and the work has been completed. Income and deposits received in advance of the period to which work is done are included within deferred income in other creditors on the balance sheet.
EP Surgical Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021
Government grants
Government grants are recognised under the accruals model resulting in income being recognised on a systematic basis over the period in which the related costs are incurred for which the grant is compensating. The income from the scheme is recognised as other income in the profit and loss and timing differences presented as other debtors or deferred income within the balance sheet
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation of tangible assets
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.3% straight line basis |
Motor vehicles |
20% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
EP Surgical Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021
Defined contribution pension obligation
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as an expense in the profit and loss account 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 company in independently administered funds.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Government grants |
The amount of grants recognised in the financial statements was £
Tangible assets |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2020 |
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Additions |
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- |
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Disposals |
- |
( |
( |
At 31 March 2021 |
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- |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
( |
( |
At 31 March 2021 |
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- |
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Carrying amount |
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At 31 March 2021 |
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- |
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At 31 March 2020 |
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EP Surgical Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Taxation and social security |
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- |
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Corporation tax |
67,018 |
59,330 |
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Other creditors |
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Related party transactions |
Transactions with directors |
2021 |
At 1 April 2020 |
Advances to directors |
Re- |
At 31 March 2021 |
E Prousskaia Peregudova |
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Directors loan account, repayable on demand. Interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates. |
28,865 |
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( |
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2020 |
At 1 April 2019 |
Advances to directors |
Re- |
At 31 March 2020 |
E Prousskaia Peregudova |
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Directors loan account, repayable on demand. Interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates. |
8,023 |
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( |
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EP Surgical Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021
Non adjusting events after the financial period |
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