Company registration number SC684815 (Scotland)
ESR UK (Holding) Ltd
Unaudited financial statements
for the year ended 31 December 2022
Pages for filing with registrar
ESR UK (Holding) Ltd
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of ESR UK (Holding) Ltd
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ESR UK (Holding) Ltd for the year ended 31 December 2022 which comprise, the balance sheet 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the Board of Directors of ESR UK (Holding) Ltd, as a body, in accordance with the terms of our engagement letter dated 15 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of ESR UK (Holding) Ltd and state those matters that we have agreed to state to the Board of Directors of ESR UK (Holding) Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ESR UK (Holding) Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that ESR UK (Holding) Ltd 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 profit of ESR UK (Holding) Ltd. You consider that ESR UK (Holding) Ltd 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 ESR UK (Holding) Ltd. 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.

James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
9 February 2024
ESR UK (Holding) Ltd
Balance sheet
as at 31 December 2022
31 December 2022
2
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
240,000
240,000
Current assets
Debtors
97,416
1,495
Cash at bank and in hand
33
200
97,449
1,695
Creditors: amounts falling due within one year
(209,928)
(165,664)
Net current liabilities
(112,479)
(163,969)
Total assets less current liabilities
127,521
76,031
Provisions for liabilities
(13,657)
(13,657)
Net assets
113,864
62,374
Capital and reserves
Called up share capital
1
1
Fair value reserve
58,221
58,221
Profit and loss reserves
55,642
4,152
Total equity
113,864
62,374

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ESR UK (Holding) Ltd
Balance sheet (continued)
as at 31 December 2022
31 December 2022
3
The financial statements were approved and signed by the director and authorised for issue on 9 February 2024
Stuart Mackie
Director
Company Registration No. SC684815
ESR UK (Holding) Ltd
Notes to the financial statements
for the year ended 31 December 2022
4
1
Accounting policies
Company information

ESR UK (Holding) Ltd is a private company limited by shares incorporated in Scotland. The registered office is Unit 5, Insch Business Park, Insch, Aberdeenshire, AB52 6TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
no depreciation is provided

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ESR UK (Holding) Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2022
1
Accounting policies (continued)
5
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
1
1
ESR UK (Holding) Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2022
6
3
Tangible fixed assets
Total
£
Cost or valuation
At 1 January 2022 and 31 December 2022
240,000
Depreciation and impairment
At 1 January 2022 and 31 December 2022
-
0
Carrying amount
At 31 December 2022
240,000
At 31 December 2021
240,000

Land and buildings with a carrying amount of £240,000 were valued at 10 March 2020 by DM Hall, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Land and buildings
2022
2021
£
£
Cost
168,122
168,122
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