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REGISTERED NUMBER: 07735000 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

ESPARC LTD

ESPARC LTD (Registered number: 07735000)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ESPARC LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: K Odetoyinbo





REGISTERED OFFICE: Ground Floor
Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 07735000 (England and Wales)






ESPARC LTD (Registered number: 07735000)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 739 985
Investments 5 10 10
749 995

CURRENT ASSETS
Debtors 6 11,409 11,409
Cash at bank 673,106 682,254
684,515 693,663
CREDITORS
Amounts falling due within one year 7 187,332 231,839
NET CURRENT ASSETS 497,183 461,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,932

462,819

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 497,832 462,719
497,932 462,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ESPARC LTD (Registered number: 07735000)

Balance Sheet - continued
31 August 2023


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 14 November 2023 and were signed by:





K Odetoyinbo - Director


ESPARC LTD (Registered number: 07735000)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

ESPARC LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

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 etc - 25% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

ESPARC LTD (Registered number: 07735000)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 3,496
DEPRECIATION
At 1 September 2022 2,511
Charge for year 246
At 31 August 2023 2,757
NET BOOK VALUE
At 31 August 2023 739
At 31 August 2022 985

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022
and 31 August 2023 10
NET BOOK VALUE
At 31 August 2023 10
At 31 August 2022 10

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 11,409 11,409

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Taxation and social security 4,062 4,062
Other creditors 183,270 227,777
187,332 231,839

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £10,347 by 1 Foot in the Door Limited. Mr Odetoyinbo is also a director of this company.

ESPARC LTD (Registered number: 07735000)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Odetoyinbo.