Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Ms S Powys 09/04/2024 22/08/2019 Mr E R Powys 22/08/2019 01 November 2024 The principal activity of the Company during the financial year was property management. 12170652 2024-03-31 12170652 bus:Director1 2024-03-31 12170652 bus:Director2 2024-03-31 12170652 2023-03-31 12170652 core:CurrentFinancialInstruments 2024-03-31 12170652 core:CurrentFinancialInstruments 2023-03-31 12170652 core:Non-currentFinancialInstruments 2024-03-31 12170652 core:Non-currentFinancialInstruments 2023-03-31 12170652 core:ShareCapital 2024-03-31 12170652 core:ShareCapital 2023-03-31 12170652 core:RetainedEarningsAccumulatedLosses 2024-03-31 12170652 core:RetainedEarningsAccumulatedLosses 2023-03-31 12170652 2023-04-01 2024-03-31 12170652 bus:FilletedAccounts 2023-04-01 2024-03-31 12170652 bus:SmallEntities 2023-04-01 2024-03-31 12170652 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12170652 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12170652 bus:Director1 2023-04-01 2024-03-31 12170652 bus:Director2 2023-04-01 2024-03-31 12170652 2022-04-01 2023-03-31 12170652 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 12170652 (England and Wales)

ESPROP LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ESPROP LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ESPROP LTD

BALANCE SHEET

As at 31 March 2024
ESPROP LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 319,739 319,739
319,739 319,739
Current assets
Cash at bank and in hand 5,460 10,486
5,460 10,486
Creditors: amounts falling due within one year 4 ( 95,551) ( 102,671)
Net current liabilities (90,091) (92,185)
Total assets less current liabilities 229,648 227,554
Creditors: amounts falling due after more than one year 5 ( 227,424) ( 227,424)
Net assets 2,224 130
Capital and reserves
Called-up share capital 2 2
Profit and loss account 2,222 128
Total shareholders' funds 2,224 130

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of ESPROP Ltd (registered number: 12170652) were approved and authorised for issue by the Director on 01 November 2024. They were signed on its behalf by:

Mr E R Powys
Director
ESPROP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ESPROP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ESPROP Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net assets of £2,224. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 319,739
As at 31 March 2024 319,739

4. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 491 30
Other creditors 95,060 102,641
95,551 102,671

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 227,424 227,424

Creditors include bank loans which are secured of £227,424 (2022 £227,424). The loan is secured by a floating charge over the property.