Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31No description of principal activitytrue2022-09-01false63trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12836498 2022-09-01 2023-08-31 12836498 2021-09-01 2022-08-31 12836498 2023-08-31 12836498 2022-08-31 12836498 c:Director1 2022-09-01 2023-08-31 12836498 d:FurnitureFittings 2022-09-01 2023-08-31 12836498 d:FurnitureFittings 2023-08-31 12836498 d:FurnitureFittings 2022-08-31 12836498 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12836498 d:ComputerEquipment 2022-09-01 2023-08-31 12836498 d:ComputerEquipment 2023-08-31 12836498 d:ComputerEquipment 2022-08-31 12836498 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12836498 d:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 12836498 d:OtherPropertyPlantEquipment 2023-08-31 12836498 d:OtherPropertyPlantEquipment 2022-08-31 12836498 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12836498 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12836498 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-31 12836498 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-08-31 12836498 d:CurrentFinancialInstruments 2023-08-31 12836498 d:CurrentFinancialInstruments 2022-08-31 12836498 d:Non-currentFinancialInstruments 2023-08-31 12836498 d:Non-currentFinancialInstruments 2022-08-31 12836498 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12836498 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12836498 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12836498 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12836498 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 12836498 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 12836498 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 12836498 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 12836498 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 12836498 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-08-31 12836498 d:ShareCapital 2023-08-31 12836498 d:ShareCapital 2022-08-31 12836498 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 12836498 d:RetainedEarningsAccumulatedLosses 2023-08-31 12836498 d:RetainedEarningsAccumulatedLosses 2022-08-31 12836498 c:FRS102 2022-09-01 2023-08-31 12836498 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12836498 c:FullAccounts 2022-09-01 2023-08-31 12836498 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12836498 2 2022-09-01 2023-08-31 12836498 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 12836498










ESPANARO LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
ESPANARO LTD
REGISTERED NUMBER:12836498

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
136
153

Tangible assets
 6 
11,709
7,256

  
11,845
7,409

Current assets
  

Debtors: amounts falling due within one year
 7 
201,178
-

Cash at bank and in hand
 8 
27,727
6,286

  
228,905
6,286

Creditors: amounts falling due within one year
 9 
(113,488)
(12,519)

Net current assets/(liabilities)
  
 
 
115,417
 
 
(6,233)

Total assets less current liabilities
  
127,262
1,176

Creditors: amounts falling due after more than one year
 10 
(54,500)
-

Provisions for liabilities
  

Deferred tax
  
(1,796)
-

  
 
 
(1,796)
 
 
-

Net assets
  
70,966
1,176


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
70,965
1,175

  
70,966
1,176


Page 1

 
ESPANARO LTD
REGISTERED NUMBER:12836498
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 February 2024.




Daniel Edmunds
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Espanaro Ltd (12836498) is a private company, limited by shares, incorporated in England & Wales. The address of its registered office and principal place of business is 7 Bell Yard, London, England, WC2A 2JR.
The principal activity of the company is IT consultancy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 3

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Trademarks are amortised over a period of 10 years.

Page 5

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight-line basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Reducing balance
Computer equipment
-
33%
Straight-line
Property improvements
-
10%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 3).

Page 7

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Intangible assets




Trademarks

£



Cost


At 1 September 2022
170



At 31 August 2023

170



Amortisation


At 1 September 2022
17


Charge for the year on owned assets
17



At 31 August 2023

34



Net book value



At 31 August 2023
136



At 31 August 2022
153



Page 8

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Property improvements
Total

£
£
£
£



Cost or valuation


At 1 September 2022
461
5,707
3,200
9,368


Additions
391
9,511
-
9,902



At 31 August 2023

852
15,218
3,200
19,270



Depreciation


At 1 September 2022
126
1,986
-
2,112


Charge for the year on owned assets
108
5,021
320
5,449



At 31 August 2023

234
7,007
320
7,561



Net book value



At 31 August 2023
618
8,211
2,880
11,709



At 31 August 2022
335
3,721
3,200
7,256


7.


Debtors

2023
2022
£
£


Trade debtors
60,876
-

Other debtors
1,445
-

Prepayments and accrued income
138,857
-

201,178
-


Page 9

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
27,727
6,286

27,727
6,286



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
4,978
-

Other loans
10,833
-

Trade creditors
423
-

Corporation tax
34,217
1,707

Other taxation and social security
49,847
9,788

Other creditors
11,614
1,024

Accruals and deferred income
1,576
-

113,488
12,519


The following liabilities were secured:

2023
2022
£
£



Bank loans
4,978
-

4,978
-

Details of security provided:

The bank loan is secured upon the assets of the company.

Page 10

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
41,167
-

Other loans
13,333
-

54,500
-


The following liabilities were secured:

2023
2022
£
£



Bank loans
41,167
-

41,167
-

Details of security provided:

The bank loan is secured upon the assets of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
16,767
-

16,767
-

The bank loan is due to expire in October 2030.  The monthly repayments are £707 and interest is charged at a rate of 8% per annum.

Page 11

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
4,978
-

Other loans
10,833
-


15,811
-

Amounts falling due 1-2 years

Bank loans
5,391
-

Other loans
13,333
-


18,724
-

Amounts falling due 2-5 years

Bank loans
19,009
-


19,009
-

Amounts falling due after more than 5 years

Bank loans
16,767
-

16,767
-

70,311
-



12.


Reserves

Profit and loss account

The profit and loss account consists of the net effects of all profits and losses of the Company, less all distributions made to shareholders.

Page 12

 
ESPANARO LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,890 (2022: £785). As at the balance sheet date £4,966 was owed to the fund (2022: £450).

 
Page 13