Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mr Vikrant Pratap 16/05/2019 Mr Howard Stephen Sutton 16/05/2019 17 November 2023 The principal activity of the Company during the financial year was engineering design activities for industrial process and production and environmental consulting activities. 12000641 2023-09-30 12000641 bus:Director1 2023-09-30 12000641 bus:Director2 2023-09-30 12000641 2022-09-30 12000641 core:CurrentFinancialInstruments 2023-09-30 12000641 core:CurrentFinancialInstruments 2022-09-30 12000641 core:Non-currentFinancialInstruments 2023-09-30 12000641 core:Non-currentFinancialInstruments 2022-09-30 12000641 core:ShareCapital 2023-09-30 12000641 core:ShareCapital 2022-09-30 12000641 core:OtherCapitalReserve 2023-09-30 12000641 core:OtherCapitalReserve 2022-09-30 12000641 core:RetainedEarningsAccumulatedLosses 2023-09-30 12000641 core:RetainedEarningsAccumulatedLosses 2022-09-30 12000641 core:LandBuildings 2022-09-30 12000641 core:OtherPropertyPlantEquipment 2022-09-30 12000641 core:LandBuildings 2023-09-30 12000641 core:OtherPropertyPlantEquipment 2023-09-30 12000641 bus:OrdinaryShareClass1 2023-09-30 12000641 2022-10-01 2023-09-30 12000641 bus:AbridgedAccounts 2022-10-01 2023-09-30 12000641 bus:SmallEntities 2022-10-01 2023-09-30 12000641 bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 12000641 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12000641 bus:Director1 2022-10-01 2023-09-30 12000641 bus:Director2 2022-10-01 2023-09-30 12000641 core:TopRangeValue 2022-10-01 2023-09-30 12000641 core:Goodwill 2022-10-01 2023-09-30 12000641 core:LandBuildings core:TopRangeValue 2022-10-01 2023-09-30 12000641 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-10-01 2023-09-30 12000641 2021-10-01 2022-09-30 12000641 core:LandBuildings 2022-10-01 2023-09-30 12000641 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 12000641 core:LandBuildings 1 2022-10-01 2023-09-30 12000641 core:OtherPropertyPlantEquipment 1 2022-10-01 2023-09-30 12000641 1 2022-10-01 2023-09-30 12000641 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 12000641 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12000641 (England and Wales)

ESTR LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 30 September 2023

ESTR LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

ESTR LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
ESTR LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS Mr Vikrant Pratap
Mr Howard Stephen Sutton
REGISTERED OFFICE 14 Cotton's Gardens
E2 8DN
London
United Kingdom
COMPANY NUMBER 12000641 (England and Wales)
ACCOUNTANT OnTheGo Accountants Limited
330 Holborn Gate
High Holborn
London
WC1V 7QH
ESTR LIMITED

BALANCE SHEET

As at 30 September 2023
ESTR LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 41,270 46,069
Investments 5 448,427 32,345
489,697 78,414
Current assets
Stocks 6 91,075 62,500
Debtors 362,094 118,173
Cash at bank and in hand 51,371 44,860
504,540 225,533
Creditors: amounts falling due within one year ( 158,882) ( 233,627)
Net current assets/(liabilities) 345,658 (8,094)
Total assets less current liabilities 835,355 70,320
Creditors: amounts falling due after more than one year ( 5,480,540) ( 3,772,730)
Provision for liabilities 7 ( 7,697) ( 8,753)
Net liabilities ( 4,652,882) ( 3,711,163)
Capital and reserves
Called-up share capital 8 100 100
Other reserves 237,904 237,904
Profit and loss account ( 4,890,886 ) ( 3,949,167 )
Total shareholder's deficit ( 4,652,882) ( 3,711,163)

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of ESTR LIMITED (registered number: 12000641) were approved and authorised for issue by the Board of Directors on 17 November 2023. They were signed on its behalf by:

Mr Vikrant Pratap
Director
Mr Howard Stephen Sutton
Director
ESTR LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
ESTR LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ESTR LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Cotton's Gardens, E2 8DN, London, , United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors anticipate that, as in prior years, the Company (or its parent entity) is able to continue to raise financing through equity and debt, so on this basis the directors have prepared the financial statements on the going concern basis. Further details are provided in the notes to the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Intangible assets 2 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 3 years straight line
Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Convertible loan notes
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition, the financial liability component is recorded at its fair value. At the date of issue, in the case of a convertible bond denominated in the functional currency of the issuer that may be converted into a fixed number of equity shares, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity reserve within equity and is not subsequently remeasured.

Transaction costs are apportioned between the liability and equity components of the convertible instrument based on their relative fair values at the date of issue. The portion relating to the equity component is charged directly against equity.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 13

3. Intangible assets

Total
£
Cost
At 01 October 2022 2,502
At 30 September 2023 2,502
Accumulated amortisation
At 01 October 2022 2,502
At 30 September 2023 2,502
Net book value
At 30 September 2023 0
At 30 September 2022 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2022 0 233,357 233,357
Additions 2,790 5,014 7,804
Rounding ( 1) 0 ( 1)
At 30 September 2023 2,789 238,371 241,160
Accumulated depreciation
At 01 October 2022 0 187,288 187,288
Charge for the financial year 1,313 11,289 12,602
Rounding 0 0 0
At 30 September 2023 1,313 198,577 199,890
Net book value
At 30 September 2023 1,476 39,794 41,270
At 30 September 2022 0 46,069 46,069

5. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 53,890 32,345
Other investments and loans 394,537 0
448,427 32,345

6. Stocks

2023 2022
£ £
Stocks 33,300 0
Work in progress 57,775 62,500
91,075 62,500

7. Provision for liabilities

2023 2022
£ £
Other provisions 7,697 8,753

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000,000 Ordinary shares shares of £ 0.0001 each 100 100

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Sfera Holdings (3,739,883) (2,154,457)

Sfera Holdings Limited owns 100% of the shares of ESTR and is therefore the parent.

Transactions with the entity's directors

2023 2022
£ £
Loan Advance - VP 8,909 0
Directors' remuneration 79,867 169,500