03739462falseletting of property2024-04-012025-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/cd:CompanySecretary12024-04-012025-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-03-31http://www.companieshouse.gov.uk/cd:Director12024-04-012025-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2025-03-31http://www.companieshouse.gov.uk/cd:Director22024-04-012025-03-31http://www.companieshouse.gov.uk/cd:Director32024-04-012025-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12024-04-012025-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-04-012025-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-04-012025-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2025-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-03-31http://www.companieshouse.gov.uk/2024-04-012025-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/cd:FRS1022024-04-012025-03-31http://www.companieshouse.gov.uk/2025-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2024-04-012025-03-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-04-012025-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03739462
ESPRIT MANAGEMENT COMPANY LIMTED
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
Prepared By:
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
ESPRIT MANAGEMENT COMPANY LIMTED
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS
K J Baynes
H Baynes
R Baynes
SECRETARY
Mrs D Baynes
REGISTERED OFFICE
Knaresboro
Hall Road
Rochford
Essex
SS4 1NX
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03739462
ACCOUNTANTS
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
ESPRIT MANAGEMENT COMPANY LIMTED
ACCOUNTS
FOR THEYEARENDED31 MARCH 2025
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
ESPRIT MANAGEMENT COMPANY LIMTED
BALANCE SHEET AT 31 March 2025
20252024
Notes££
FIXED ASSETS
Tangible assets32,000,0702,783,109
CURRENT ASSETS
Debtors515,2218,771
Cash at bank and in hand11416
15,2329,187
CREDITORS: Amounts falling due within one year618,00027,484
NET CURRENT LIABILITIES(2,768)(18,297)
TOTAL ASSETS LESS CURRENT LIABILITIES1,997,3022,764,812
CREDITORS: Amounts falling due after more than one year7611,050650,995
PROVISIONS FOR LIABILITIES AND CHARGES8-198,249
NET ASSETS1,386,2521,915,568
CAPITAL AND RESERVES
Called up share capital922
Revaluation reserve1d,10297,224881,991
Profit and loss account1,089,0261,033,575
SHAREHOLDERS' FUNDS1,386,2521,915,568
For the year ending 31 March 2025 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 20 May 2025 and signed on their behalf by
.............................
K J Baynes
Director
ESPRIT MANAGEMENT COMPANY LIMTED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery 25%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of investment properties pass through the profit and loss account. This value is then credited or debited to the non-distributable fair value reserve. The surplus or deficit arising on revaluation of investment properties is adjusted for the affect of deferred taxation.
2. EMPLOYEES
20252024
No.No.
Average number of employees11
ESPRIT MANAGEMENT COMPANY LIMTED
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 April 20242,783,0172902,783,307
Revaluation(783,016)-(783,016)
At 31 March 20252,000,0012902,000,291
Depreciation
At 1 April 2024-198198
For the year-2323
At 31 March 2025-221221
Net Book Amounts
At 31 March 20252,000,001692,000,070
At 31 March 20242,783,017922,783,109
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 April 20242,783,0172,783,017
Revaluation(783,016)(783,016)
At 31 March 20252,000,0012,000,001
The investment properties have been valued by the director.
5. DEBTORS 20252024
££
Amounts falling due within one year:
Other debtors15,2218,771
15,2218,771
ESPRIT MANAGEMENT COMPANY LIMTED
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20252024
££
Taxation and social security10,79713,455
Other creditors7,20314,029
18,00027,484
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20252024
££
Other creditors611,050650,995
611,050650,995
Included within creditors due after more than one year are:
Amounts falling due after more than five years
- repayable otherwise than by installments611,050650,995
8. PROVISIONS FOR LIABILITIES 20252024
££
Deferred taxation-198,249
-198,249
9. SHARE CAPITAL 20252024
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
ESPRIT MANAGEMENT COMPANY LIMTED
10. FAIR VALUE RESERVE 20252024
££
Opening balance on fair value reserve881,991(45,148)
Transfer to/(from) fair value reserve(584,767)927,139
Closing balance on fair value reserve297,224881,991
11. RELATED PARTY TRANSACTIONS
The director's current account balance at the year end amounted to £523,270(2024:£563,215 ) and is due to the director. The loan is interest free and has no repayment date.
The wife of the director has a current account balance owed to her of £87,780 (2024: £87,780). The loan is interest free and has no repayment date.
The director holds on formal trust four investment properties for the company and therefore treated as company assets. At the balance sheet date they had a market value of £230,000(2024: £775,000 ).