Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falseActivities of tourist guides2023-03-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08883260 2023-03-01 2024-02-29 08883260 2022-03-01 2023-02-28 08883260 2024-02-29 08883260 2023-02-28 08883260 c:Director1 2023-03-01 2024-02-29 08883260 c:Director1 2022-03-01 2023-02-28 08883260 c:Director1 2024-02-29 08883260 c:Director1 2023-02-28 08883260 d:PlantMachinery 2023-03-01 2024-02-29 08883260 d:PlantMachinery 2024-02-29 08883260 d:PlantMachinery 2023-02-28 08883260 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08883260 d:OfficeEquipment 2023-03-01 2024-02-29 08883260 d:CurrentFinancialInstruments 2024-02-29 08883260 d:CurrentFinancialInstruments 2023-02-28 08883260 d:Non-currentFinancialInstruments 2024-02-29 08883260 d:Non-currentFinancialInstruments 2023-02-28 08883260 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08883260 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08883260 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08883260 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08883260 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 08883260 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 08883260 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 08883260 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 08883260 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 08883260 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 08883260 d:ShareCapital 2024-02-29 08883260 d:ShareCapital 2023-02-28 08883260 d:RetainedEarningsAccumulatedLosses 2024-02-29 08883260 d:RetainedEarningsAccumulatedLosses 2023-02-28 08883260 c:FRS102 2023-03-01 2024-02-29 08883260 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08883260 c:FullAccounts 2023-03-01 2024-02-29 08883260 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08883260 2 2023-03-01 2024-02-29 08883260 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 08883260










ESSENTIALLY LONDON LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ESSENTIALLY LONDON LTD
REGISTERED NUMBER: 08883260

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,856
2,255

  
1,856
2,255

Current assets
  

Debtors
 6 
107,403
108,301

Cash at bank and in hand
 7 
282,773
254,105

  
390,176
362,406

Creditors: amounts falling due within one year
 8 
(225,584)
(152,316)

Net current assets
  
 
 
164,592
 
 
210,090

Total assets less current liabilities
  
166,448
212,345

Creditors: amounts falling due after more than one year
 9 
(31,353)
(37,299)

Provisions for liabilities
  

Deferred tax
  
(464)
(3,564)

Net assets
  
134,631
171,482


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
134,531
171,382

  
134,631
171,482


Page 1

 
ESSENTIALLY LONDON LTD
REGISTERED NUMBER: 08883260
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 income and retained earnings 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 by: 




Lia Lalli
Director

Date: 28 August 2024

Page 2

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Essentially London Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Victoria Court, 17-21 Ashford Road, Maidstone, Kent, United Kingdom, ME14 5DA.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. 

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

Page 4

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors 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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Page 5

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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 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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office Equipment

£



Cost or valuation


At 1 March 2023
12,084


Additions
1,056



At 29 February 2024

13,140



Depreciation


At 1 March 2023
9,829


Charge for the year on owned assets
1,455



At 29 February 2024

11,284



Net book value



At 29 February 2024
1,856



At 28 February 2023
2,255

Page 7

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£

Due after more than one year

Other debtors
50,000
50,000

50,000
50,000

Due within one year

Trade debtors
50,862
20,710

Other debtors
-
35,554

Prepayments and accrued income
6,541
2,037

107,403
108,301



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
282,773
254,105

282,773
254,105



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
5,876
5,882

Trade creditors
-
710

Corporation tax
28,047
42,130

Other taxation and social security
17,198
4,786

Other creditors
4,000
12,000

Accruals and deferred income
170,463
86,808

225,584
152,316


Page 8

 
ESSENTIALLY LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
31,353
37,299

31,353
37,299



10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
5,876
5,882


5,876
5,882

Amounts falling due 1-2 years

Bank loans
5,882
5,955


5,882
5,955

Amounts falling due 2-5 years

Bank loans
17,157
17,647


17,157
17,647

Amounts falling due after more than 5 years

Bank loans
8,314
13,697

8,314
13,697

37,229
43,181



11.


Transactions with directors

During the year, the director was advanced £102,154 (2023: £50,666). As at the balance sheet date, the amount due to the director is £4,000 (2023: £35,516 was due from the director). 

 
Page 9