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Registration number: SC441079

Esk (Holdings) Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Esk (Holdings) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Esk (Holdings) Limited

(Registration number: SC441079)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

771,125

606,397

Current assets

 

Debtors

5

21,076

21,427

Cash at bank and in hand

 

184,370

112,978

 

205,446

134,405

Creditors: Amounts falling due within one year

6

(306,779)

(286,151)

Net current liabilities

 

(101,333)

(151,746)

Total assets less current liabilities

 

669,792

454,651

Provisions for liabilities

(41,182)

-

Net assets

 

628,610

454,651

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

123,546

-

Retained earnings

505,062

454,649

Shareholders' funds

 

628,610

454,651

For the financial year ending 30 April 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 Income Statement.

 

Esk (Holdings) Limited

(Registration number: SC441079)
Statement of Financial Position as at 30 April 2024

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

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

Mr Craig Irons
Director

 

Esk (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Margaret House
Sir William Smith Road
Kirkton Industrial Estate
Arbroath
Angus
DD11 3RD
Scotland

These financial statements were authorised for issue by the Board on 20 January 2025.

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.

 

Esk (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Esk (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 May

606,397

Fair value adjustments

164,728

At 30 April

771,125

Revaluation was done by an independent valuer as at 30 April 2024. Most of the investment properties are occupied by an inter-group company and therefore revaluations were allocated to a revaluation reserve per FRS102 paragraph 17.15B.

5

Debtors

Current

2024
£

2023
£

Trade debtors

15,483

20,243

Prepayments

5,593

1,184

 

21,076

21,427

 

Esk (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

42

Taxation and social security

21,464

6,227

Accruals and deferred income

18,448

9,453

Other creditors

266,867

270,429

306,779

286,151

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

123,546

123,546