IRIS Accounts Production v23.3.1.45 SC528224 director 1.3.22 28.2.23 28.2.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5282242022-02-28SC5282242023-02-28SC5282242022-03-012023-02-28SC5282242021-02-28SC5282242021-03-012022-02-28SC5282242022-02-28SC528224ns16:Scotland2022-03-012023-02-28SC528224ns15:PoundSterling2022-03-012023-02-28SC528224ns11:Director12022-03-012023-02-28SC528224ns11:PrivateLimitedCompanyLtd2022-03-012023-02-28SC528224ns11:SmallEntities2022-03-012023-02-28SC528224ns11:AuditExemptWithAccountantsReport2022-03-012023-02-28SC528224ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-28SC528224ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-28SC528224ns11:FullAccounts2022-03-012023-02-28SC52822412022-03-012023-02-28SC528224ns11:RegisteredOffice2022-03-012023-02-28SC528224ns6:CurrentFinancialInstruments2023-02-28SC528224ns6:CurrentFinancialInstruments2022-02-28SC528224ns6:ShareCapital2023-02-28SC528224ns6:ShareCapital2022-02-28SC528224ns6:RetainedEarningsAccumulatedLosses2023-02-28SC528224ns6:RetainedEarningsAccumulatedLosses2022-02-28SC528224ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-28SC528224ns6:PatentsTrademarksLicencesConcessionsSimilar2022-03-012023-02-28SC528224ns6:PlantMachinery2022-03-012023-02-28SC528224ns6:FurnitureFittings2022-03-012023-02-28SC528224ns6:ComputerEquipment2022-03-012023-02-28SC528224ns6:IntangibleAssetsOtherThanGoodwill2022-02-28SC528224ns6:IntangibleAssetsOtherThanGoodwill2023-02-28SC528224ns6:IntangibleAssetsOtherThanGoodwill2022-02-28SC528224ns6:PlantMachinery2022-02-28SC528224ns6:FurnitureFittings2022-02-28SC528224ns6:ComputerEquipment2022-02-28SC528224ns6:PlantMachinery2023-02-28SC528224ns6:FurnitureFittings2023-02-28SC528224ns6:ComputerEquipment2023-02-28SC528224ns6:PlantMachinery2022-02-28SC528224ns6:FurnitureFittings2022-02-28SC528224ns6:ComputerEquipment2022-02-28SC528224ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-28SC528224ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28SC528224ns11:Director112022-02-28SC528224ns11:Director112021-02-28SC528224ns11:Director112022-03-012023-02-28SC528224ns11:Director112021-03-012022-02-28SC528224ns11:Director112023-02-28SC528224ns11:Director112022-02-28
REGISTERED NUMBER: SC528224 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ESQUARE INNOVATIONS LIMITED

ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

ESQUARE INNOVATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTOR: Mr S Kalidindi





REGISTERED OFFICE: Union Point
Blaikies Quay
Aberdeen
AB11 5PW





REGISTERED NUMBER: SC528224 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 6,600 7,400
Tangible assets 6 22,414 26,110
29,014 33,510

CURRENT ASSETS
Debtors 7 42,813 7,785
Cash at bank 41,366 126,771
84,179 134,556
CREDITORS
Amounts falling due within one year 8 615,610 548,547
NET CURRENT LIABILITIES (531,431 ) (413,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(502,417

)

(380,481

)

PROVISIONS FOR LIABILITIES 4,259 4,961
NET LIABILITIES (506,676 ) (385,442 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (506,776 ) (385,542 )
SHAREHOLDERS' FUNDS (506,676 ) (385,442 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 November 2023 and were signed by:





Mr S Kalidindi - Director


ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Esquare Innovations Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue trading for a period of no less than 12 months from the date of this report.

The director acknowledges the negative balance sheet position and has given assurance that they will continue to support the company in order for it to meet it's obligations as they fall due by making funds available and not calling on the director's loan account for repayment until the company is in such a position to be able to make repayments.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade & other debtors, cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity.

Basic financial liabilities
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

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.

ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is expensed to the profit and loss account as it is incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 8,000
AMORTISATION
At 1 March 2022 600
Charge for year 800
At 28 February 2023 1,400
NET BOOK VALUE
At 28 February 2023 6,600
At 28 February 2022 7,400

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 8,927 3,750 20,488 33,165
Additions - - 3,906 3,906
At 28 February 2023 8,927 3,750 24,394 37,071
DEPRECIATION
At 1 March 2022 1,637 625 4,793 7,055
Charge for year 1,785 938 4,879 7,602
At 28 February 2023 3,422 1,563 9,672 14,657
NET BOOK VALUE
At 28 February 2023 5,505 2,187 14,722 22,414
At 28 February 2022 7,290 3,125 15,695 26,110

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,300 -
Other debtors 3,513 7,785
42,813 7,785

ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 54,288 4,282
Taxation and social security 2,071 280
Other creditors 559,251 543,985
615,610 548,547

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr S Kalidindi
Balance outstanding at start of year (542,984 ) (542,984 )
Amounts advanced (14,827 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (557,811 ) (542,984 )

These amounts bear no interest and have no fixed repayment terms.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Kalidindi.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ESQUARE INNOVATIONS LIMITED (REGISTERED NUMBER: SC528224)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Esquare Innovations Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Esquare Innovations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Esquare Innovations Limited and state those matters that we have agreed to state to the director of Esquare Innovations Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Esquare Innovations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Esquare Innovations Limited. You consider that Esquare Innovations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Esquare Innovations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


26 November 2023