ESENTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
Esentra Limited is a private company limited by shares, incorporated in England. The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The functional currency used in the preparation of the financial statements is Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis, notwithstanding net liabilities of £117,059, which the director believes to be appropriate for the following reasons. The company is dependent for its working capital on funds provided to it by the director.
The director has indicated that for at least 12 months from the date of approval of these financial statements, he will continue to make available such funds as are needed by the company.
The director considers that this should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance for financial support, the director acknowledges that there can be no certainty that this support will continue although at the date of approval of these financial statements, he has no reason to believe that it will not do so.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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