Espanaro Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
15,434
11,709
Cash at bank and in hand
96,438
27,727
Creditors: amounts falling due within one year
(222,794)
(129,692)
Net current assets
150,113
97,768
Total assets less current liabilities
165,993
109,613
Creditors: amounts falling due after more than one year
(390,123)
(54,500)
Provisions for liabilities
Deferred tax
(1,796)
(1,796)
Net (liabilities)/assets
(225,926)
53,317
Called up share capital
1
1
Profit and loss account
(225,927)
53,316
Shareholders' funds
(225,926)
53,317
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 February 2025 and were signed on its behalf by
Daniel Philip Edmunds
Director
Company Registration No. 12836498
Espanaro Ltd
Notes to the Accounts
for the period from 1 September 2023 to 31 December 2024
Espanaro Ltd is a private company, limited by shares, registered in England and Wales, registration number 12836498. The registered office is Espanaro Ltd, 7 Bell Yard, London, WC2A 2JR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 1 September 2023 to 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Fixtures & fittings
20% Reducing Balance
Computer equipment
33% Straight Line
Other tangible fixed assets
10% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Espanaro Ltd
Notes to the Accounts
for the period from 1 September 2023 to 31 December 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
3,200
852
15,218
19,270
Additions
-
-
12,157
12,157
At 31 December 2024
3,200
852
27,375
31,427
At 1 September 2023
320
234
7,007
7,561
Charge for the period
427
165
7,840
8,432
At 31 December 2024
747
399
14,847
15,993
At 31 December 2024
2,453
453
12,528
15,434
At 31 August 2023
2,880
618
8,211
11,709
Amounts falling due within one year
Trade debtors
48,524
60,876
Accrued income and prepayments
227,945
138,857
Espanaro Ltd
Notes to the Accounts
for the period from 1 September 2023 to 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
76,912
22,458
Trade creditors
102,765
423
Taxes and social security
23,237
47,304
Proposed dividends
-
17,650
Other creditors
6,508
4,791
Loans from directors
(32,304)
(1,270)
8
Creditors: amounts falling due after more than one year
2024
2023
During the year the company made advances of £32,304 to the Director.
10
Average number of employees
During the period the average number of employees was 12 (2023: 6).