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COMPANY REGISTRATION NUMBER: 12641971
Esax Investment Limited
Filleted Unaudited Financial Statements
30 June 2024
Esax Investment Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
454,420
454,420
Current assets
Cash at bank and in hand
103
890
Creditors: amounts falling due within one year
5
99,690
101,439
--------
---------
Net current liabilities
99,587
100,549
---------
---------
Total assets less current liabilities
354,833
353,871
Creditors: amounts falling due after more than one year
6
353,390
353,391
---------
---------
Net assets
1,443
480
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,343
380
-------
----
Shareholders funds
1,443
480
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Esax Investment Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
Mr G S Dhesi
Director
Company registration number: 12641971
Esax Investment Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Wadham Close, Syston, Leicester, LE7 2FF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, Small Entities of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of rent receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
4. Tangible assets
Investment property
£
Cost
At 1 July 2023 and 30 June 2024
454,420
---------
Depreciation
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
454,420
---------
At 30 June 2023
454,420
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
769
Other creditors
99,690
100,670
--------
---------
99,690
101,439
--------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
353,390
353,391
---------
---------
7. Directors' advances, credits and guarantees
At 30 June 2024, company owed 98,670 (2023: £99,650) to the directors.
8. The ultimate controlling party
The company is controlled by the directors of the company.