Esperante Limited 02015208 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is providing management services to the parent company, which provides seed capital to companies in the healthcare industry. Digita Accounts Production Advanced 6.30.9574.0 true true 02015208 2023-01-01 2023-12-31 02015208 2023-12-31 02015208 core:CurrentFinancialInstruments 2023-12-31 02015208 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02015208 core:FurnitureFittingsToolsEquipment 2023-12-31 02015208 1 2023-12-31 02015208 bus:SmallEntities 2023-01-01 2023-12-31 02015208 bus:Audited 2023-01-01 2023-12-31 02015208 bus:FilletedAccounts 2023-01-01 2023-12-31 02015208 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02015208 bus:RegisteredOffice 2023-01-01 2023-12-31 02015208 bus:CompanySecretary1 2023-01-01 2023-12-31 02015208 bus:Director3 2023-01-01 2023-12-31 02015208 bus:Director5 2023-01-01 2023-12-31 02015208 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02015208 core:ComputerEquipment 2023-01-01 2023-12-31 02015208 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02015208 core:ParentEntities 2023-01-01 2023-12-31 02015208 countries:EnglandWales 2023-01-01 2023-12-31 02015208 1 2023-01-01 2023-12-31 02015208 2022-12-31 02015208 core:FurnitureFittingsToolsEquipment 2022-12-31 02015208 1 2022-12-31 02015208 2022-01-01 2022-12-31 02015208 2022-12-31 02015208 core:CurrentFinancialInstruments 2022-12-31 02015208 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02015208 core:FurnitureFittingsToolsEquipment 2022-12-31 02015208 1 2022-12-31 02015208 1 2022-01-01 2022-12-31 02015208 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 02015208

Esperante Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Esperante Limited

Contents
for the Year Ended 31 December 2023

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Esperante Limited

Company Information
for the Year Ended 31 December 2023

Directors

S Davis

D Slagel

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

02015208 ( England and Wales )

Auditors

Kirk Rice LLP
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP

 

Esperante Limited

(Registration number: 02015208)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,997

1,094

Current assets

 

Debtors

5

381,132

193,665

Cash at bank and in hand

 

21,859

61,642

 

402,991

255,307

Creditors: Amounts falling due within one year

6

(173,173)

(80,709)

Net current assets

 

229,818

174,598

Total assets less current liabilities

 

231,815

175,692

Provisions for liabilities

-

(274)

Net assets

 

231,815

175,418

Capital and reserves

 

Called up share capital

2

2

Retained earnings

231,813

175,416

Shareholders' funds

 

231,815

175,418

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.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
D Slagel
Director

 

Esperante Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 29 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.

Going concern

All revenue is derived from the parent and other group undertakings. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 January 2025 was Andrew Beet FCA, who signed for and on behalf of Kirk Rice LLP.

Revenue recognition

Turnover comprises of the consideration received or receivable for the provision of services to group entities on a cost plus 5% basis 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.

 

Esperante Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% Straight line

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 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. Amounts classified as receivable within one year are not amortised.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Esperante Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

5,059

5,059

Additions

2,393

2,393

At 31 December 2023

7,452

7,452

Depreciation

At 1 January 2023

3,965

3,965

Charge for the year

1,490

1,490

At 31 December 2023

5,455

5,455

Carrying amount

At 31 December 2023

1,997

1,997

At 31 December 2022

1,094

1,094

 

Esperante Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

2023
£

2022
£

Amounts owed by related parties

70,317

47,160

Amounts owed by group companies

236,015

126,272

Prepayments

25,397

5,824

Other debtors

49,403

14,409

 

381,132

193,665

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

132,776

17,180

Accruals and deferred income

16,000

13,860

Other creditors

24,397

49,669

173,173

80,709

7

Related party transactions

Transactions with directors
 

Other debtors includes director’s current account balances as follows:

 

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Advances and credits

5,305

16,719

22,024

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Advances and credits

2,473

4,832

(2,000)

5,305

 

Other transactions with directors

 

Esperante Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

The balance due from the director at the year end date was deemed repayable on demand. Interest was charged at 2% on the outstanding balance.

Parent undertaking

The company's immediate parent is Esperante Ventures B.V. (NL), incorporated in Netherlands.
The address of Esperante Ventures B.V. (NL) is:
Siriusdreef 29
2132 WT Hoofddorp
Netherlands