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Company registration number: 12335835
ESRW Limited
Unaudited filleted financial statements
30 November 2023
ESRW Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
ESRW Limited
Directors and other information
Directors Mr David N Walker
Mrs Fay M Walker
Company number 12335835
Registered office Unit 23, 106A Bedford Road
Wootton
Bedford
Beds
MK43 9JB
Business address Unit 23, 106A Bedford Road
Wootton
Bedford
MK43 9JB
Accountants Rawnsley & Co
35 Colworth House
Colworth Park, Sharnbrook
Bedford
MK44 1LQ
Bankers National Westminster Bank plc
ESRW Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 279,107 284,861
_______ _______
279,107 284,861
Current assets
Debtors 6 2 2
Cash at bank and in hand 10,198 3,959
_______ _______
10,200 3,961
Creditors: amounts falling due
within one year 7 ( 35,777) ( 28,119)
_______ _______
Net current liabilities ( 25,577) ( 24,158)
_______ _______
Total assets less current liabilities 253,530 260,703
Creditors: amounts falling due
after more than one year 8 ( 251,130) ( 258,726)
_______ _______
Net assets 2,400 1,977
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,398 1,975
_______ _______
Shareholders funds 2,400 1,977
_______ _______
For the year ending 30 November 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 24 September 2024 , and are signed on behalf of the board by:
Mr David N Walker Mrs Fay M Walker
Director Director
Company registration number: 12335835
ESRW Limited
Statement of changes in equity
Year ended 30 November 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2021 2 - 2
Profit for the year 1,975 1,975
_______ _______ _______
Total comprehensive income for the year - 1,975 1,975
_______ _______ _______
At 30 November 2022 and 1 December 2022 2 1,975 1,977
Profit for the year 423 423
_______ _______ _______
Total comprehensive income for the year - 423 423
_______ _______ _______
At 30 November 2023 2 2,398 2,400
_______ _______ _______
ESRW Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 23, 106A Bedford Road, Wootton, Bedford, Beds, MK43 9JB.
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.
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:
Freehold property - 2 % straight line
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 December 2022 and 30 November 2023 287,711 287,711
_______ _______
Depreciation
At 1 December 2022 2,850 2,850
Charge for the year 5,754 5,754
_______ _______
At 30 November 2023 8,604 8,604
_______ _______
Carrying amount
At 30 November 2023 279,107 279,107
_______ _______
At 30 November 2022 284,861 284,861
_______ _______
The freehold property has been valued by the Directors based on the original cost and current market conditions.
6. Debtors
2023 2022
£ £
Other debtors 2 2
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 20,461 20,461
Corporation tax 2,695 1,247
Other creditors 12,621 6,411
_______ _______
35,777 28,119
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 251,130 258,726
_______ _______
The Bank loan is repayable by a fixed monthly instalment over the term of 20 years.
Included within creditors: amounts falling due after more than one year is an amount of £ 20,460 (2022 £ 20,460 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The Bank loan is repayable by a fixed monthly instalment over the term of 20 years.
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
£ £ £
Mr David N Walker ( 1,500) - ( 1,500)
Mrs Fay M Walker ( 1,500) - ( 1,500)
_______ _______ _______
( 3,000) - ( 3,000)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr David N Walker - ( 1,500) ( 1,500)
Mrs Fay M Walker - ( 1,500) ( 1,500)
_______ _______ _______
- ( 3,000) ( 3,000)
_______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2023 2022
£ £
Associate Company 21,600 13,900
_______ _______
THe property is rented over a term of 20 years to an associated company in which the directors have an equal shareholding.
11. Controlling party
The company is controlled by the directors by virtue of their shareholdings.