Esenda Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Esenda Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10800880 . The registered office is 13a Chiltern Court, Asheridge Road, Chesham, HP5 2PX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Development Costs. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised over 10 years on a straight line basis over their expected useful economic lives, which range from 5 to 10 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% on Cost

2.6. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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Esenda Ltd

Notes to the Financial Statements (continued)

For the Period 1 September 2024 to 31 December 2024

2.8. Share-Based Payments

Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 8 (2024: 8)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 September 2024	807,930
Additions	23,750

As at 31 December 2024	831,680

Amortisation
As at 1 September 2024	267,557
Provided during the period	27,925

As at 31 December 2024	295,482

Net Book Value
As at 31 December 2024	536,198

As at 1 September 2024	540,373

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 September 2024	9,154

As at 31 December 2024	9,154

Depreciation
As at 1 September 2024	8,165
Provided during the period	256

As at 31 December 2024	8,421

Net Book Value
As at 31 December 2024	733

As at 1 September 2024	989

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Esenda Ltd

Notes to the Financial Statements (continued)

For the Period 1 September 2024 to 31 December 2024

6. Debtors

	31 December 2024	31 August 2024 as restated
	£	£
Due within one year
Trade debtors	32,268	54,248
Other debtors	97,774	78

	130,042	54,326

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 August 2024 as restated
	£	£
Trade creditors	47,783	6,762
Other creditors	405,457	257,098
Taxation and social security	88,773	53,130

	542,013	316,990

8. Share Capital

	31 December 2024	31 August 2024 as restated
	£	£
Allotted, Called up and fully paid	1,482	1,492

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Esenda Ltd

Notes to the Financial Statements (continued)

For the Period 1 September 2024 to 31 December 2024

9. Related Party Transactions

At the period end, included in other creditors is an amount of £169,369 (2024 £76,260) owed to the director of the company. The loan is unsecured and there are no formal terms and conditions regarding repayment of the loan.

10. Share-Based Payments

The company operates equity-settled Enterprise Management Incentive, and Unapproved, share option schemes.

For two of the schemes the options are granted with a fixed exercise price and are exercisable over a two year vesting period from the grant date, with 25% vesting on the grant date. The options expire ten years after the grant date and are non-transferrable.

For one of the schemes the options are granted with a fixed exercise price and are exercisable over a one year vesting period from the grant date, with 25% vesting on the grant date. The options expire ten years after the grant date and are non-refundable.

For one of the schemes the options are granted with a fixed exercise price and are fully exercisable on grant. The options expire ten years after the grant date and are non-transferrable.

31 December 2024 31 August 2024

Weighted average Weighted average

exercise price excercise price

No. £ No £

Outstanding at period start	14,018	16.46	14,018	16.46
Granted	-	-	-	-
Forfeited	-	-	-	-
Exercised	-	-	-	-
Expired	-	-	-	-
Outstanding at period end	14,018	16.46	14,018	16.46
Exercisable at period end	13,234	15.98	12,609	15.57

The company is unable to directly measure the fair value of employee and partner services received. Therefore, the fair value of the share options granted during the year is determined using the Black-Scholes model which is an internationally accepted method of valuing employee share schemes such as these.

The total charge for the period/year was:

4 month period ending Year ending

31/12/24 31/08/2024

£ £

31,381 94,375

...CONTINUED

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Esenda Ltd

Notes to the Financial Statements (continued)

For the Period 1 September 2024 to 31 December 2024

12. Prior Period Adjustments

Profit and Loss Profit and Loss Loss for the year

Account Account ended 31 Augut

as at 1 September as at 31 August 2024

2023 2024

£ £ £

As previously stated	(1,362,322)	(1,541,547)	(179,225)
Prior year adjustment-correction of error	(351,888)	(446,262)	(94,375)
As restated	(1,714,210)	(1,987,809)	(273,600)

Share Options Share Options Loss for the

reserve reserve year ended

as at 1 September as at 1 August 31 August

2023 2024 2024

£ £ £

As Previously stated	-	-	-
Prior year adjustment- correction of error	351,888	446,262	-
As restated	351,888	446,262	-

As described in note 11, Share-based payments, the company operates equity-settled share option schemes. In the prior year, and also prior to 1 September 2023, the company's share option expenses were not recognised in the Profit and Loss, nor were the corresponding amounts recorded in a Share Options Reserve. The directors have therefore made a prior year adjustment to correct the error and to recognise the historic share option expenses and associated share option reserve amounts.

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		31 December 2024		31 August 2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		536,198		540,373
Tangible Assets	5		733		989

			536,931		541,362
CURRENT ASSETS
Debtors	6	130,042		54,326
Cash at bank and in hand		331		22,330

		130,373		76,656
Creditors: Amounts Falling Due Within One Year	7	(542,013 )		(316,990 )

NET CURRENT ASSETS (LIABILITIES)			(411,640 )		(240,334 )

TOTAL ASSETS LESS CURRENT LIABILITIES			125,291		301,028

NET ASSETS			125,291		301,028

CAPITAL AND RESERVES
Called up share capital	8		1,482		1,492
Share premium account			1,841,094		1,841,083
Share Options Reserve			477,643		446,262
Profit and Loss Account			(2,194,928 )		(1,987,809 )

SHAREHOLDERS' FUNDS			125,291		301,028

Mr Albert Simpson Director	Mr Stephen Bilboe Director
11/08/2025