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REGISTERED NUMBER: 11080169 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2023

FOR

ESC TRADING COMPANY LIMITED

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ESC TRADING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







Directors: G Knappett
A J Haughton
B N B Doouss





Registered office: Unit 1
Beacon Road
Rotherwas Industrial Estate
Hereford
HR2 6JF





Registered number: 11080169 (England and Wales)

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £ £ £
Fixed assets
Tangible assets 4 142,121 187,617

Current assets
Stocks 5 569,332 427,602
Debtors 6 2,457,544 1,948,263
Cash at bank and in hand 16,249 15,942
3,043,125 2,391,807
Creditors
Amounts falling due within one year 7 1,261,419 916,682
Net current assets 1,781,706 1,475,125
Total assets less current liabilities 1,923,827 1,662,742

Creditors
Amounts falling due after more than one
year

8

(540,875

)

(593,482

)

Provisions for liabilities 10 (33,800 ) (44,900 )
Net assets 1,349,152 1,024,360

Capital and reserves
Called up share capital 11 300 300
Share premium 29,700 29,700
Retained earnings 1,319,152 994,360
Shareholders' funds 1,349,152 1,024,360

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

BALANCE SHEET - continued
31ST DECEMBER 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd August 2024 and were signed on its behalf by:





G Knappett - Director


ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

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


1. Statutory information

ESC Trading Company Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following rates on the straight line method in order to write off each asset over its estimated useful life:

Improvements to property10 year write off
Plant & machinery10% - 33%
Equipment & fixtures20%
Motor vehicles20%


Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Any gain or loss arising from a change in exchange rates subsequent to the date of the transaction is included as an exchange gain or loss in the profit and loss account.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, 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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.




ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

3. Employees (including officers)

The average number of employees during the year was 25 (2022 - 21 ) .

4. Tangible fixed assets
Leasehold Plant & Equip & Motor
improvements machinery fixtures vehicles Totals
£ £ £ £ £
Cost
At 1st January 2023 9,300 203,041 188,604 119,961 520,906
Additions - 13,726 15,275 - 29,001
Disposals - (7,982 ) - - (7,982 )
At 31st December 2023 9,300 208,785 203,879 119,961 541,925
Depreciation
At 1st January 2023 4,656 117,514 149,299 61,820 333,289
Charge for year 930 28,229 20,931 19,683 69,773
Eliminated on disposal - (3,258 ) - - (3,258 )
At 31st December 2023 5,586 142,485 170,230 81,503 399,804
Net book value
At 31st December 2023 3,714 66,300 33,649 38,458 142,121
At 31st December 2022 4,644 85,527 39,305 58,141 187,617

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. Tangible fixed assets - continued

The net book value of tangible fixed assets includes £ 55,125 (2022 - £ 79,063 ) in respect of assets held under hire purchase contracts.

5. Stocks
31.12.23 31.12.22
£ £
Goods for resale 569,332 427,602

6. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 429,647 502,536
Amounts owed by group undertakings 1,976,509 1,319,369
Amounts owed by related parties 145 159
Other debtors 10,646 21,201
Corporation Tax - 89,989
Prepayments & accrued income 40,597 15,009
2,457,544 1,948,263

7. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Hire purchase contracts (see note 9) 32,584 34,870
Payments on account & deferred income 133,757 67,199
Trade creditors 663,399 527,703
Amounts owed to group undertakings 103,552 65,642
Amounts owed to associates 16,667 16,667
Corporation tax 31,300 -
Social security & other taxes 142,453 105,183
Other creditors 69,569 31,280
Directors' loan accounts 68,138 68,138
1,261,419 916,682

8. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£ £
Hire purchase contracts (see note 9) 17,808 50,415
Amounts owed to related parties 149,583 139,583
Directors' loan accounts 373,484 403,484
540,875 593,482

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£ £
Net obligations repayable:
Within one year 32,584 34,870
Between one and five years 17,808 50,415
50,392 85,285

Non-cancellable
operating leases
31.12.23 31.12.22
£ £
Within one year 11,338 -
Between one and five years 17,953 -
29,291 -

10. Provisions for liabilities
31.12.23 31.12.22
£ £
Deferred tax 33,800 44,900

Deferred tax
£
Balance at 1st January 2023 44,900
Utilised during year (11,100 )
Balance at 31st December 2023 33,800

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
10,000 Ordinary A shares £0.01 100 100
10,000 Ordinary B shares £0.01 100 100
10,000 Ordinary C shares £0.01 100 100
300 300

ESC TRADING COMPANY LIMITED (REGISTERED NUMBER: 11080169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


12. Contingent liabilities

There were no contingent liabilities as at 31st December 2023.

13. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries withing the group.

The following transactions with related parties, on normal commercial terms, took place during the year:

RentPurchasesSalesBalance
£ £ £ £
Related parties35,8752,7244,36199,855
Associated companies---16,667


The directors

During the year, the directors used a current account with the company, to record amounts due to them and amounts drawn by them. The balance at the year end was £441,622 (2022: £471,622) owed by the company, of which £68,138 is due in one year and £373,484 due in more than one year.

During the year, interest has been charged by the directors totalling £11,275 (2022: £6,427).

14. Ultimate controlling party

The company is controlled by Wye Vale Investments Limited, which is the ultimate holding company (registered office: Unit 1, Beacon Road, Rotherwas Industrial Estate, Hereford, HR2 6JF, company registration no: 12347401).