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Company registration number: 09283398
Esquisite Care UK Ltd
Trading as Esquisite Care
Unaudited filleted financial statements
31 October 2023
Esquisite Care UK Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Esquisite Care UK Ltd
Directors and other information
Directors Mrs Diana Adebiyi
Mr O Adebiyi
Secretary Adebiyi Oluwaseunfunmi
Company number 09283398
Registered office P6 Knoll Business Centre
Old Shoreham Road
Hove
East Sussex
BN3 7GS
Business address P6 Knoll Business Centre
ld Shoreham Road
Hove
East Sussex
BN3 7GS
Bankers Lloyds Bank
Esquisite Care UK Ltd
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 4,782 5,555
_______ _______
4,782 5,555
Current assets
Debtors 6 130,627 139,311
Cash at bank and in hand 6,257 12,609
_______ _______
136,884 151,920
Creditors: amounts falling due
within one year 7 ( 25,136) ( 100,682)
_______ _______
Net current assets 111,748 51,238
_______ _______
Total assets less current liabilities 116,530 56,793
Creditors: amounts falling due
after more than one year 8 ( 115,503) ( 37,010)
Provisions for liabilities ( 287) ( 287)
_______ _______
Net assets 740 19,496
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 738 19,494
_______ _______
Shareholders funds 740 19,496
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mrs Diana Adebiyi
Director
Company registration number: 09283398
Esquisite Care UK Ltd
Statement of changes in equity
Year ended 31 October 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2021 2 40,912 40,914
Profit for the year 62,582 62,582
_______ _______ _______
Total comprehensive income for the year - 62,582 62,582
Dividends paid and payable ( 84,000) ( 84,000)
_______ _______ _______
Total investments by and distributions to owners - ( 84,000) ( 84,000)
_______ _______ _______
At 31 October 2022 and 1 November 2022 2 19,494 19,496
Profit for the year 20,244 20,244
_______ _______ _______
Total comprehensive income for the year - 20,244 20,244
Dividends paid and payable ( 39,000) ( 39,000)
_______ _______ _______
Total investments by and distributions to owners - ( 39,000) ( 39,000)
_______ _______ _______
At 31 October 2023 2 738 740
_______ _______ _______
Esquisite Care UK Ltd
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Esquisite Care, P6 Knoll Business Centre, Old Shoreham Road, Hove, East Sussex, BN3 7GS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 16 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2022 6,178 11,312 17,490
Additions 355 - 355
_______ _______ _______
At 31 October 2023 6,533 11,312 17,845
_______ _______ _______
Depreciation
At 1 November 2022 4,244 7,691 11,935
Charge for the year 458 670 1,128
_______ _______ _______
At 31 October 2023 4,702 8,361 13,063
_______ _______ _______
Carrying amount
At 31 October 2023 1,831 2,951 4,782
_______ _______ _______
At 31 October 2022 1,934 3,621 5,555
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 79,973 139,311
Other debtors 50,654 -
_______ _______
130,627 139,311
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 21,034 15,234
Social security and other taxes 2,302 3,416
Other creditors 1,800 82,032
_______ _______
25,136 100,682
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 29,792 37,010
Other creditors 85,711 -
_______ _______
115,503 37,010
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Diana Adebiyi ( 40,116) 65,443 25,327
Mr O Adebiyi ( 40,116) 65,443 25,327
_______ _______ _______
( 80,232) 130,886 50,654
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Diana Adebiyi ( 28,427) ( 11,689) ( 40,116)
Mr O Adebiyi ( 28,427) ( 11,689) ( 40,116)
_______ _______ _______
( 56,854) ( 23,378) ( 80,232)
_______ _______ _______
The above balance was paid in full shortly after the year end.
10. Controlling party
The director controls the company by virtue of her 100% beneficial interest.