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REGISTERED NUMBER: 04295194 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

ESPRIT INVESTMENTS LIMITED

ESPRIT INVESTMENTS LIMITED (REGISTERED NUMBER: 04295194)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ESPRIT INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Ms P C Wellard
J A Wellard





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 04295194 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

ESPRIT INVESTMENTS LIMITED (REGISTERED NUMBER: 04295194)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 2,412 1,430
Investment property 4 220,000 220,000
222,412 221,430

CURRENT ASSETS
Debtors 5 146 10,000
Cash at bank 73,099 69,216
73,245 79,216
CREDITORS
Amounts falling due within one year 6 4,747 5,377
NET CURRENT ASSETS 68,498 73,839
TOTAL ASSETS LESS CURRENT LIABILITIES 290,910 295,269

PROVISIONS FOR LIABILITIES 8,460 -
NET ASSETS 282,450 295,269

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 282,350 295,169
282,450 295,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by:





J A Wellard - Director


ESPRIT INVESTMENTS LIMITED (REGISTERED NUMBER: 04295194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. 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 revaluation of certain assets.

Turnover

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 5,478
Additions 1,667
At 30 April 2024 7,145
DEPRECIATION
At 1 May 2023 4,048
Charge for year 685
At 30 April 2024 4,733
NET BOOK VALUE
At 30 April 2024 2,412
At 30 April 2023 1,430

ESPRIT INVESTMENTS LIMITED (REGISTERED NUMBER: 04295194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 220,000
NET BOOK VALUE
At 30 April 2024 220,000
At 30 April 2023 220,000

As at the balance sheet date, the fair value includes a net revaluation of £99,626.13. This is included within profit and loss reserves but is not distributable as it is unrealised.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 10,000
Prepayments 146 -
146 10,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 3,416 3,863
VAT 1,331 1,495
Directors' loan accounts - 19
4,747 5,377

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
J A Wellard and Ms P C Wellard
Balance outstanding at start of year 19 19
Amounts repaid (19 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19

8. RELATED PARTY DISCLOSURES

Victoria & Daniel Evans, children of directors J Wellard and Ms P Wellard.

During the year, Victoria & Daniel Evans repaid a £10,000 loan, that was interest free, on 14 July 2023.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are J Wellard and Mrs P Wellard.

This was by virtue of their 100% holding of the issued share capital.