ESIM Go Limited


Directors	J V De Bardi
	C J Maynard
	Z T Paulucci Couldrick


Registered Address	8 North Bar Street
	Banbury
	OX16 0TB


Registered Number	12465777 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, 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 of accounting in preparing its financial statements.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

	Turnover policy
	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 rendering of services.

	Revenue from rendering of services
	Revenue 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. Turnover from the rendering of services is recognised by reference to the point at which data is used by the customer or the data expires.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	3
	Fixtures and fittings	3

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Accruals represent costs incurred by the company in the provision of electronic SIM and mobile connectivity services during the financial year but not paid at the balance sheet date. These primarily comprise network usage charges, platform and licensing fees, and professional costs. Accrued expenses are recognised in the profit and loss account in the period to which they relate. Accruals at the balance sheet date amounted to £592,294 (2024: £915,712). Deferred income represents amounts received in advance from customers for electronic SIM data plans and connectivity services that have not yet been consumed at the balance sheet date. Revenue is recognised as the data allowance is utilised or as access to the service is provided over the relevant contract period. Amounts relating to services to be delivered within twelve months of the balance sheet date are included within creditors falling due within one year. Deferred income at the balance sheet date amounted to £1,766,866 (2024: £2,451,606), representing unutilised data plans and prepaid connectivity services.

Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Accruals represent costs incurred by the company in the provision of electronic SIM and mobile connectivity services during the financial year but not paid at the balance sheet date. These primarily comprise network usage charges, platform and licensing fees, and professional costs. Accrued expenses are recognised in the profit and loss account in the period to which they relate.

Accruals at the balance sheet date amounted to £592,294 (2024: £915,712).

Deferred income represents amounts received in advance from customers for electronic SIM data plans and connectivity services that have not yet been consumed at the balance sheet date. Revenue is recognised as the data allowance is utilised or as access to the service is provided over the relevant contract period. Amounts relating to services to be delivered within twelve months of the balance sheet date are included within creditors falling due within one year.

Deferred income at the balance sheet date amounted to £1,766,866 (2024: £2,451,606), representing unutilised data plans and prepaid connectivity services.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	61		33

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	31,836	31,836
Additions	1,720,937	1,720,937
At 31 March 25	1,752,773	1,752,773
Amortisation and impairment
At 01 April 24	2,320	2,320
Charge for year	69,855	69,855
At 31 March 25	72,175	72,175
Net book value
At 31 March 25	1,680,598	1,680,598
At 31 March 24	29,516	29,516

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 24	165,287	165,287
Additions	21,125	21,125
Disposals	(2,522)	(2,522)
At 31 March 25	183,890	183,890
Depreciation and impairment
At 01 April 24	28,177	28,177
Charge for year	60,772	60,772
On disposals	(701)	(701)
At 31 March 25	88,248	88,248
Net book value
At 31 March 25	95,642	95,642
At 31 March 24	137,110	137,110

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	143,334	111,775
Amounts owed by group undertakings	1,025,222	13,944
Other debtors	796,044	1,843,542
Deferred tax asset, debtors	878,703	-
Total	2,843,303	1,969,261

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	3,421,824	1,267,809
Taxation and social security	117,901	77,359
Other creditors	92,028	7,060
Accrued liabilities and deferred income	2,359,160	3,382,548
Total	5,990,913	4,734,776

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Amounts owed to related parties	1,355,263	458,125
Other creditors	48,291	48,291
Total	1,403,554	506,416

8.	Operating lease commitments
	At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £30,100 (2024 – £28,728)

9.	Controlling party
	The direct parent company is ESIM Go Limited (Isle of Man), a private company limited by shares and incorporated in the Isle of Man, of which the registered office is Whiteleas Cottage, Main Road, Kirk Michael, Isle of Man, IM6 2HG. The ultimate parent company is Go Go Go Limited, a private company limited by shares and incorporated in the Isle of Man, at the same registered office address as ESIM Go Limited (Isle of Man).

Controlling party

The direct parent company is ESIM Go Limited (Isle of Man), a private company limited by shares and incorporated in the Isle of Man, of which the registered office is Whiteleas Cottage, Main Road, Kirk Michael, Isle of Man, IM6 2HG. The ultimate parent company is Go Go Go Limited, a private company limited by shares and incorporated in the Isle of Man, at the same registered office address as ESIM Go Limited (Isle of Man).

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		1,680,598		29,516
Tangible assets	4		95,642		137,110
			1,776,240		166,626
Current assets
Debtors	5	2,843,303		1,969,261
Cash at bank and on hand		167,165		995,697
		3,010,468		2,964,958
Creditors amounts falling due within one year	6	(5,990,913)		(4,734,776)
Net current assets (liabilities)			(2,980,445)		(1,769,818)
Total assets less current liabilities			(1,204,205)		(1,603,192)
Creditors amounts falling due after one year	7		(1,403,554)		(506,416)
Net assets			(2,607,759)		(2,109,608)
Capital and reserves
Called up share capital			4,000		4,000
Profit and loss account			(2,611,759)		(2,113,608)
Shareholders' funds			(2,607,759)		(2,109,608)