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ESKER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ESKER LIMITED (REGISTERED NUMBER: 02881799)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ESKER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J-M Berard
A Nicholas



REGISTERED OFFICE: Unit 1 Stoney Cross Industrial Estate
Station Road
Spondon
Derby
DE21 7RX



REGISTERED NUMBER: 02881799 (England and Wales)



SENIOR STATUTORY AUDITOR: Hari Vasdev MEng FCA



AUDITORS: Sibbalds Limited
Chartered Accountants and Statutory Auditor
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ESKER LIMITED (REGISTERED NUMBER: 02881799)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 243,877 253,817

CURRENT ASSETS
Stocks 14,270 8,166
Debtors 5 3,919,080 3,121,911
Cash at bank 5,992,523 5,143,699
9,925,873 8,273,776
CREDITORS
Amounts falling due within one year 6 2,924,444 3,036,168
NET CURRENT ASSETS 7,001,429 5,237,608
TOTAL ASSETS LESS CURRENT LIABILITIES 7,245,306 5,491,425

PROVISIONS FOR LIABILITIES 8 - 27,730
NET ASSETS 7,245,306 5,463,695

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 197,745 63,972
Retained earnings 7,047,461 5,399,623
SHAREHOLDERS' FUNDS 7,245,306 5,463,695

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 Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





J-M Berard - Director


ESKER LIMITED (REGISTERED NUMBER: 02881799)

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


1. STATUTORY INFORMATION

Esker 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company is a wholly owned subsidiary. The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions entered into between fellow group members that are also wholly owned within the group.

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

Turnover represents the amounts derived from the provision of goods and services to customers during the year. Revenue is recognised in the income statement when a right to the consideration has been obtained through performance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 12.5% on cost
Fixtures and fittings - 25% on cost and 20% on cost

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

Cost represents the invoiced cost of materials on a first in first out basis.

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

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. Exchange differences are taken into account in arriving at the operating result.

ESKER LIMITED (REGISTERED NUMBER: 02881799)

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


2. ACCOUNTING POLICIES - continued

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.

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

Share-based payment
The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees are measured by reference to the fair value of equity instruments issued at the date of grant. Amounts are expensed on a straight line basis over the vesting period based on the estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions. The cost and fair value of the liability incurred in respect of cash-settled transactions is measured using an appropriate option pricing model with changes in fair value recognised in profit or loss for the period.

Financial assets and liabilities
Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
improvements fittings Totals
£    £    £   
COST
At 1 January 2023 310,642 207,159 517,801
Additions 1,062 54,762 55,824
At 31 December 2023 311,704 261,921 573,625
DEPRECIATION
At 1 January 2023 97,329 166,655 263,984
Charge for year 38,925 26,839 65,764
At 31 December 2023 136,254 193,494 329,748
NET BOOK VALUE
At 31 December 2023 175,450 68,427 243,877
At 31 December 2022 213,313 40,504 253,817

ESKER LIMITED (REGISTERED NUMBER: 02881799)

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


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,533,268 1,545,879
Amounts owed by group undertakings 305,087 495,892
Tax 9,238 9,238
Deferred tax asset 1,920 -
Prepayments and accrued income 69,567 70,902
1,919,080 2,121,911

Amounts falling due after more than one year:
Amounts owed by group undertakings 2,000,000 1,000,000

Aggregate amounts 3,919,080 3,121,911

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 188,666 54,844
Amounts owed to group undertakings 1,834,704 1,891,541
Tax 229,067 281,397
Social security and other taxes 109,722 84,878
VAT 148,610 116,764
Other creditors 362,387 516,316
Accrued expenses 51,288 90,428
2,924,444 3,036,168

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 92,488 99,048
Between one and five years 90,025 97,125
182,513 196,173

8. PROVISIONS FOR LIABILITIES
2022
£   
Deferred tax
Accelerated capital allowances 43,730
Other timing differences (16,000 )
27,730

ESKER LIMITED (REGISTERED NUMBER: 02881799)

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


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 27,730
Provided during year (29,650 )
Balance at 31 December 2023 (1,920 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hari Vasdev MEng FCA (Senior Statutory Auditor)
for and on behalf of Sibbalds Limited

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Esker S.A., a company incorporated in France and whose registered office is 113 Boulevard de la Bataille de Stalingrad 69100 Villeurbanne, France. Copies of the consolidated financial statements of Esker S.A. are publicly available.

12. SHARE-BASED PAYMENT TRANSACTIONS

On 5/3/21, the parent company granted 700 free shares to four employees of the company which are exercisable over a 6 year vesting period. These free shares lapse upon an employee's departure and will be equity-settled. At the balance sheet date, all of these free shares were expected to be exercised and a provision has been made at their fair value in respect of the value vested. The total expense recognised in the profit and loss account in respect of these free shares totalled £18,345 (2022: £20,295).

On 1/10/22, the parent company granted 3,190 free shares to 21 employees of the company which are exercisable over a 3 year vesting period. These free shares lapse upon an employee's departure and will be equity-settled. At the balance sheet date, all of these free shares were expected to be exercised and a provision has been made at their fair value in respect of the value vested. The total expense recognised in the profit and loss account in respect of these free shares totalled £110,808 (2022: £28,522).

On 6/11/23, the parent company granted 860 free shares to 34 employees of the company which are exercisable over a 3 year vesting period. These free shares lapse upon an employee's departure and will be equity-settled. At the balance sheet date, all of these free shares were expected to be exercised and a provision has been made at their fair value in respect of the value vested. The total expense recognised in the profit and loss account in respect of these free shares totalled £4,620 (2022: £nil).