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Registration number: 06737501

Essentia UK Ltd

trading as Essentia Management Services

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

Essentia UK Ltd

trading as Essentia Management Services

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Essentia UK Ltd

trading as Essentia Management Services

Company Information

Directors

E Baker

A M Baker

Company secretary

AS Jolly

Registered office

7 Gorcott Lane
Dickens Heath
Solihull
B90 1SY

 

Essentia UK Ltd

trading as Essentia Management Services

(Registration number: 06737501)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,481

-

Current assets

 

Debtors

5

47,495

46,866

Cash at bank and in hand

 

-

14,498

 

47,495

61,364

Creditors: Amounts falling due within one year

(1,862)

(1,987)

Net current assets

 

45,633

59,377

Total assets less current liabilities

 

69,114

59,377

Creditors: Amounts falling due after more than one year

(15,423)

(6,830)

Net assets

 

53,691

52,547

Capital and reserves

 

Called up share capital

6

30

30

Retained earnings

53,661

52,517

Shareholders' funds

 

53,691

52,547

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 October 2023 and signed on its behalf by:
 

 

Essentia UK Ltd

trading as Essentia Management Services

(Registration number: 06737501)
Abridged Balance Sheet as at 31 July 2023

.........................................
E Baker
Director

 

Essentia UK Ltd

trading as Essentia Management Services

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Gorcott Lane
Dickens Heath
Solihull
B90 1SY

These financial statements were authorised for issue by the Board on 13 October 2023.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 income 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.

 

Essentia UK Ltd

trading as Essentia Management Services

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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:

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Essentia UK Ltd

trading as Essentia Management Services

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

26,090

26,090

At 31 July 2023

26,090

26,090

Depreciation

Charge for the year

2,609

2,609

At 31 July 2023

2,609

2,609

Carrying amount

At 31 July 2023

23,481

23,481

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

Essentia UK Ltd

trading as Essentia Management Services

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

30

30

30

30

         

7

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of Nil per each NewRow_0

 

-

 

-

         

Final dividends paid

   

2023
£

 

2022
£

Final dividend of Nil per each NewRow_0

 

-

 

-

         

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £66.67 (2022 - £107.25) per each Ordinary shares

 

2,000

 

2,145

         

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £67 (2022 - £107) per each Ordinary shares

 

2,000

 

2,145

         

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

8

Related party transactions

 

Essentia UK Ltd

trading as Essentia Management Services

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,363

5,137