Essex Solutions Limited 06099738 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true 06099738 2023-03-01 2024-02-29 06099738 2024-02-29 06099738 bus:OrdinaryShareClass1 2024-02-29 06099738 core:CurrentFinancialInstruments 2024-02-29 06099738 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 06099738 core:Non-currentFinancialInstruments 2024-02-29 06099738 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 06099738 bus:SmallEntities 2023-03-01 2024-02-29 06099738 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 06099738 bus:FilletedAccounts 2023-03-01 2024-02-29 06099738 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06099738 bus:RegisteredOffice 2023-03-01 2024-02-29 06099738 bus:Director1 2023-03-01 2024-02-29 06099738 bus:Director2 2023-03-01 2024-02-29 06099738 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 06099738 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06099738 countries:EnglandWales 2023-03-01 2024-02-29 06099738 2023-02-28 06099738 2022-03-01 2023-02-28 06099738 2023-02-28 06099738 bus:OrdinaryShareClass1 2023-02-28 06099738 core:CurrentFinancialInstruments 2023-02-28 06099738 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06099738 core:Non-currentFinancialInstruments 2023-02-28 06099738 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06099738

Essex Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Essex Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Essex Solutions Limited

Company Information

Directors

DM Ashford

C Patterson

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Essex Solutions Limited

(Registration number: 06099738)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

1,145,000

1,145,000

Current assets

 

Debtors

6

480

510

Cash at bank and in hand

 

646,973

642,350

 

647,453

642,860

Creditors: Amounts falling due within one year

7

(13,015)

(13,018)

Net current assets

 

634,438

629,842

Total assets less current liabilities

 

1,779,438

1,774,842

Creditors: Amounts falling due after more than one year

7

(456,028)

(456,028)

Provisions for liabilities

(143,989)

(109,431)

Net assets

 

1,179,421

1,209,383

Capital and reserves

 

Called up share capital

10

2

2

Other reserves

569,155

603,712

Retained earnings

610,264

605,669

Shareholders' funds

 

1,179,421

1,209,383

For the financial year ending 29 February 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Essex Solutions Limited

(Registration number: 06099738)
Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:



 

.........................................

C Patterson

Director

 

Essex Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Essex Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Non-distributable reserve
The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Essex Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 29 February 2024

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 March

1,145,000

At 29 February

1,145,000

6

Debtors

Current

2024
£

2023
£

Prepayments

480

510

 

480

510

 

Essex Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

30

Taxation and social security

1,547

-

Accruals and deferred income

1,890

1,800

Other creditors

9,578

11,188

13,015

13,018

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

456,028

456,028

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

456,028

456,028

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £1.00) per ordinary share

-

-

Interim dividend of £Nil (2023 - £2,000.00) per ordinary share

2,000

4,000

2,000

4,000

 

 

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2