REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
E S E GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
E S E GROUP LIMITED |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
E S E GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
One Derby Square |
Liverpool |
L2 9QR |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
BALANCE SHEET - continued |
29 FEBRUARY 2024 |
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 director and authorised for issue on |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
E S E Group Limited is a |
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 as modified by the recognition of certain fixed assets measured at fair value. |
Going concern |
On the basis of current financial projections and facilities available to the company, the director has formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he considers that it is appropriate to adopt the going concern basis in preparing the financial statements. |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Land and buildings had not been brought into use by 29 February 2024 and therefore no depreciation has been charged. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
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. |
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. |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Fixed asset investments |
Fixed asset investments are stated at fair value at the balance sheet date with any gains or losses recognised in the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
The net book value of plant and machinery etc includes £208,690 (2023 - £278,253) in respect of assets held under hire purchase contracts. The amount of depreciation in respect of such assets amounted to £69,563 for the year (2023 - £41,320). |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
Other investments | 185,750 | 160,550 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment. |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings are unsecured, interest free and have no fixed date of repayment. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The above loan is unsecured, interest free and has no fixed date for repayment. |
11. | RELATED PARTY DISCLOSURES |
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 with wholly owned subsidiaries within the group. |
Included in other debtors are loan balances totalling £311,689 (2023 - £57,659) due from companies in which the director G M Fredson has a controlling interest. These loans are interest free, unsecured and have no fixed date of repayment. |
Included in other creditors are loan balances totalling £272,399 (2023 - £462,575) due to companies in which the director G M Fredson has a controlling interest. These loans are interest free, unsecured and have no fixed date of repayment. |
A charge exists over the company's land and buildings to secure the borrowings of another company in which the director G M Fredson has a controlling interest. |
E S E GROUP LIMITED (REGISTERED NUMBER: 09468098) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
12. | POST BALANCE SHEET EVENTS |
Following the year end, the company sold its land and buildings to a connected company for a consideration of £796,800. |
13. | ULTIMATE PARENT COMPANY |
The company's ultimate parent company is GLJ Investment Group Limited whose registered office address is 5 Sprint Way, Liverpool, L24 9AB. |