Company Registration No. 09202568 (England and Wales)
Esplice Ltd
Unaudited accounts
for the year ended 30 September 2024
Esplice Ltd
Unaudited accounts
Contents
Esplice Ltd
Company Information
for the year ended 30 September 2024
Directors
Alex Asher
Daniel O'Reilly
Company Number
09202568 (England and Wales)
Registered Office
32-38 Leman Street
Techspace/Learncube
London
E1 8EW
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Esplice Ltd
Statement of financial position
as at 30 September 2024
Cash at bank and in hand
80,310
68,869
Creditors: amounts falling due within one year
(86,556)
(78,082)
Net current assets
16,683
31,928
Total assets less current liabilities
17,669
34,007
Creditors: amounts falling due after more than one year
(18,333)
(33,333)
Net (liabilities)/assets
(664)
674
Called up share capital
13
13
Share premium
58,330
58,330
Profit and loss account
(59,007)
(57,669)
Shareholders' funds
(664)
674
For the year ending 30 September 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 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 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 of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by
Alex Asher
Director
Company Registration No. 09202568
Esplice Ltd
Notes to the Accounts
for the year ended 30 September 2024
Esplice Ltd is a private company, limited by shares, registered in England and Wales, registration number 09202568. The registered office is 32-38 Leman Street, Techspace/Learncube, London, E1 8EW, England.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% Straight Line
Computer equipment
25% Straight Line
Expenditure on research and development is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.
Research and development tax credit
During the financial year, Esplice Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
This relates to the Coronavirus outbreak bounce-back loan. No repayments or interest are due in the first 12 months of the loan following which interest will be charged at the rate of 2.5% per annum
Esplice Ltd
Notes to the Accounts
for the year ended 30 September 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
699
5,288
5,987
At 30 September 2024
699
5,288
5,987
At 1 October 2023
699
3,209
3,908
Charge for the year
-
1,093
1,093
At 30 September 2024
699
4,302
5,001
At 30 September 2024
-
986
986
At 30 September 2023
-
2,079
2,079
Amounts falling due within one year
Trade debtors
20,407
34,799
Accrued income and prepayments
54
121
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
5,000
Taxes and social security
888
9,022
Loans from directors
(78)
-
Deferred income
49,833
64,060
Esplice Ltd
Notes to the Accounts
for the year ended 30 September 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Included in creditors due after more than one year is a Bounce Back Loan due to Santander of £18,333 (2023: £33,333). The loan is repayable over a period of 6 years and accrues an interest rate of 2.5%. £10,000 (2023: £5,000) is included in creditors due within one year.
Allotted, called up and fully paid:
128,665 Ordinary shares of £0.0001 each
12.86
12.86
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' loans are interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).