Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falsePlacement of locums46falsetruefalse 08211726 2023-03-01 2024-02-29 08211726 2022-03-01 2023-02-28 08211726 2024-02-29 08211726 2023-02-28 08211726 c:Director2 2023-03-01 2024-02-29 08211726 d:ComputerEquipment 2023-03-01 2024-02-29 08211726 d:ComputerEquipment 2024-02-29 08211726 d:ComputerEquipment 2023-02-28 08211726 d:CurrentFinancialInstruments 2024-02-29 08211726 d:CurrentFinancialInstruments 2023-02-28 08211726 d:CurrentFinancialInstruments 1 2024-02-29 08211726 d:CurrentFinancialInstruments 1 2023-02-28 08211726 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08211726 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08211726 d:ShareCapital 2024-02-29 08211726 d:ShareCapital 2023-02-28 08211726 d:RetainedEarningsAccumulatedLosses 2024-02-29 08211726 d:RetainedEarningsAccumulatedLosses 2023-02-28 08211726 c:FRS102 2023-03-01 2024-02-29 08211726 c:Audited 2023-03-01 2024-02-29 08211726 c:FullAccounts 2023-03-01 2024-02-29 08211726 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08211726 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08211726 4 2023-03-01 2024-02-29 08211726 f:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 08211726









ESHAR LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ESHAR LIMITED
REGISTERED NUMBER: 08211726

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Tangible assets
 4 
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
451,624
526,638

Cash at bank and in hand
  
8,452
4,582

  
460,076
531,220

Creditors: amounts falling due within one year
 6 
(139,701)
(487,662)

Net current assets
  
 
 
320,375
 
 
43,558

  

Net assets
  
320,375
43,558


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
320,373
43,556

  
320,375
43,558


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2024.




P Johnson
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Eshar Limited is a private company limited by shares and is registered, domiciled and incorporated in England and Wales. The registered office is 10 Western Road, Romford, England, RM1 3JT. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.

 
2.3

Revenue

Revenue is recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
Income relating to temporary staff is recognised in the period to which it relates when billed for each month.

 
2.4

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

  
2.5

Retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either other creditors or other debtors.

Page 2

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on following bases:


Computer equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

Page 3

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.12

Invoice discouting

Trade debtors are subject to a financing agreement whereby an advance is received based upon and secured against trade receivables. 
Where the company has retained significant benefits and risks relating to the factored debts, separate presentation is adopted whereby the gross debts and a corresponding liability in respect of the advance received are shown separately on the balance sheet. The interest element of the factor's charges is recognised as it accrues and is included in the Statement of income and retained earnings with other interest charges.
Page 4

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 6).

Page 5

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 March 2023
4,785



At 29 February 2024

4,785



Depreciation


At 1 March 2023
4,785



At 29 February 2024

4,785



Net book value



At 29 February 2024
-



At 28 February 2023
-

Page 6

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
92,577
148,882

Amounts owed by group undertakings
346,750
353,668

Other debtors
2,950
2,745

Prepayments and accrued income
9,347
21,343

451,624
526,638


Trade debtors have been pledged as security against amounts due in respect of financed trade receivables.


6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
19,033
23,841

Corporation tax
89,808
12,128

Other taxation and social security
1,752
9,877

Invoice discounting
-
66,799

Other creditors
459
510

Accruals and deferred income
28,649
374,507

139,701
487,662


The invoice discounting liability of £Nil (2023 - £66,799) is secured by way of fixed and floating charges over the assets of the company, including the trade debtors of the company.


7.


Pension commitments

The Company operates a defined contributions pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £904 (2023 - £847). Contributions totalling £362 (2023 - £383) were payable to the fund at the balance sheet date and are included within Other creditors. 


8.


Related party transactions

The Company is exempt from disclosing related party transactions with Group companies that are wholly owned within the Group.

Page 7

 
ESHAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Controlling party

The immediate parent undertaking is Eshar Holdings Limited, a Company incorporated in the United Kingdom and registered in England and Wales. 

10.


Auditors' information

The auditors' report on the financial statements for the year ended 29 February 2024 was a disclaimer of opinion. 
The disclaimer of opinion in the audit report was as follows:
A provision of £346,192 has been reversed on the basis that the director does not believe that it is due.  We believe that it is probable that a provision is required however we are unable to quantify the value of the provision. We have also been unable to quantify what impact the settlement of any amount would have on the company’s ability to continue as a going concern.

The audit report was signed on 25 November 2024 by Andrew May ACCA (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 8