EGPI Projects Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12322765 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2022

for

EGPI Projects Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Hollands

Mrs J E Hollands

REGISTERED OFFICE:

Sterling House

7 Ashford Road

Maidstone

Kent

ME14 5BJ

REGISTERED NUMBER:

12322765 (England and Wales)

ACCOUNTANTS:

Berry & Company

Chartered Accountants

Sterling House

7 Ashford Road

Maidstone

Kent

ME14 5BJ

CURRENT ASSETS

Stocks

1,614,697

1,057,041

Debtors

4

10,853

17,479

Cash at bank

4,286

-

1,629,836

1,074,520

CREDITORS

Amounts falling due within one year

5

1,644,025

1,080,910

NET CURRENT LIABILITIES

(14,189

)

(6,390

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,189

)

(6,390

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(14,193

)

(6,394

)

(14,189

)

(6,390

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2023 and were signed on its behalf by:

Mrs J E Hollands - Director

1.	STATUTORY INFORMATION

EGPI Projects Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 company is reliant on the financial support of the directors who have advanced the company £1,194,564 (2021: £651,796) by way of a directors loan. The directors have stated that this amount will only be called up for repayment when the company has sufficient reserves and future operating cashflows from which to repay this debt and meet all its other debts as they fall due and for this reason they have adopted the Going Concern principle when preparing these financial statements despite net liabilities exceeding net assets by £14,193 (2021: £6,390).

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

10,853

17,479

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

332

Trade creditors

62,200

17,730

Taxation and social security

1,181

3,848

Other creditors

1,580,644

1,059,000

1,644,025

1,080,910