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Registered number: 06427336










ESCENTIAL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ESCENTIAL LIMITED
 

COMPANY INFORMATION


DIRECTORS
D Connors (resigned 30 November 2023)
B Edwards (appointed 30 November 2023)




REGISTERED NUMBER
06427336



REGISTERED OFFICE
Scent Place
102 Buckingham Avenue

Slough

SL1 4PF




INDEPENDENT AUDITOR
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

Reading Bridge House

George Street

Reading

RG1 8LS





 
ESCENTIAL LIMITED
 

CONTENTS



Page
Balance sheet
1
Notes to the financial statements
2 - 7


 
ESCENTIAL LIMITED
REGISTERED NUMBER: 06427336

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
603,920
479,535

  
603,920
479,535

Current assets
  

Stocks
 5 
302,724
208,582

Debtors: amounts falling due within one year
 6 
7,977,898
6,234,012

Cash at bank and in hand
 7 
560,221
458,096

  
8,840,843
6,900,690

Creditors: amounts falling due within one year
 8 
(2,310,396)
(2,044,573)

Net current assets
  
 
 
6,530,447
 
 
4,856,117

Total assets less current liabilities
  
7,134,367
5,335,652

Provisions for liabilities
  

Deferred tax
 9 
(85,595)
(58,808)

  
 
 
(85,595)
 
 
(58,808)

Net assets
  
7,048,772
5,276,844


Capital and reserves
  

Called up share capital 
  
101,055
101,055

Share premium account
  
211
211

Profit and loss account
  
6,947,506
5,175,578

  
7,048,772
5,276,844


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 24 April 2024.




B Edwards
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Escential Limited is a private company, limited by shares and incorporated in England (registered number 06427336). The registered office and principal place of business is Scent Place, 102 Buckingham Avenue, Slough, SL1 4PF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue for contracted services is recognised as the service is performed in accordance with the terms of the contractual arrangement.  Revenue for sale of goods is recognised when title to the goods and associated risks have passed to the customer.

 
2.3

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 provided on the following basis:

Leasehold property
-
33% Straight line
Plant and machinery
-
33% Straight line
Motor vehicles
-
33% Straight line
Office equipment
-
33% Straight line

No depreciation is applied for equipment not yet deployed.

 
2.4

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.5

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 2

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.

 
2.7

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

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.

 
2.9

Current and deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Page 3

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 57 (2022 - 50).


4.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
10,626
1,712,735
197,298
153,455
2,074,114


Additions
-
320,378
71,908
54,111
446,397


Disposals
-
(138,285)
(9,336)
(10,143)
(157,764)



At 31 December 2023

10,626
1,894,828
259,870
197,423
2,362,747



Depreciation


At 1 January 2023
10,626
1,340,578
123,796
119,579
1,594,579


Charge for the year on owned assets
-
229,897
65,122
24,695
319,714


Disposals
-
(135,987)
(9,336)
(10,143)
(155,466)



At 31 December 2023

10,626
1,434,488
179,582
134,131
1,758,827



Net book value



At 31 December 2023
-
460,340
80,288
63,292
603,920



At 31 December 2022
-
372,157
73,502
33,876
479,535

Page 4

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
302,724
208,582

302,724
208,582



6.


Debtors

2023
2022
£
£


Trade debtors
1,600,941
1,122,127

Amounts owed by group undertakings
5,872,922
4,650,165

Other debtors
421,795
387,436

Prepayments and accrued income
82,240
74,284

7,977,898
6,234,012



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
560,221
458,096

560,221
458,096



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
254,409
222,391

Amounts owed to group undertakings
283,882
501,710

Corporation tax
300,224
173,158

Other taxation and social security
437,855
275,567

Other creditors
177,294
150,346

Accruals and deferred income
856,732
721,401

2,310,396
2,044,573


Page 5

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(58,808)


Charged to profit or loss
(26,787)



At end of year
(85,595)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(128,254)
(94,152)

Other timing differences
42,659
35,344

(85,595)
(58,808)


10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
100,000
100,000

Later than 1 year and not later than 5 years
258,333
400,000

358,333
500,000


11.


Related party transactions

The company has taken advantage of the exemption available under Section 1A of FRS 102 whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary undertaking of the group.


12.


Controlling party

The parent company is Scentair Technologies Inc
The ultimate controlling party is Fresh Holdco Inc.

Page 6

 
ESCENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 April 2024 by Alan Poole BA (Hons) FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.


Page 7