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ESSON HOLDING COMPANY LIMITED
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DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 1
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ESSON HOLDING COMPANY LIMITED
REGISTERED NUMBER:SC596785
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BALANCE SHEET
AS AT 31 MARCH 2025
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Total assets less current liabilities
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For the year ended 31 March 2025 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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ESSON HOLDING COMPANY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Esson Holding Company Limited ("the company") is a private company limited by shares incorporated in Scotland. The registered office is 10 Albert Street, Aberdeen, AB25 1XQ. The Company's principal activity is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The Directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The Directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In forming this conclusion the Directors have considered the financial position of its subsidiary and the availability of bank term loan and revolving credit facilities which have a renewal date in December 2026.
As a result, the Directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Investments in subsidiary companies
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Page 3
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ESSON HOLDING COMPANY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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The following was a subsidiary undertaking of the Company:
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10 Albert Street, Aberdeen, AB25 1XQ
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Property investment company
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Allotted, called up and fully paid
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100 (2024 - 100) A Ordinary shares of £1.00 each
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86 (2024 - 86) New Ordinary shares of £1.00 each
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100 (2024 - 100) Ordinary shares of £1.00 each
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Dividends may be declared on any class of share to the exclusion of other classes. An interim dividend may be declared on any class of share.
Holders of New Ordinary shares have no right to participate in any dividend or distribution unless specifically authorised.
On a return of assets or liquidation, Ordinary and New Ordinary shares rank pari passu, and the balance thereof is available for distribution to A Ordinary holders.
Holders of New Ordinary and Ordinary have one vote entitlement per share, however holders of A Ordinary have no voting rights.
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Security in the form of a cross company guarantee is in place between the company and its subsidiary, Esson Properties Limited, in favour of the bank. Aggregate liabilities of the Group secured under the guarantee at the balance sheet date total £28,142,149 (2024 - £32,960,149).
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Related party transactions
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The Company has taken advantage of the exemption given by section 1AC.35 of FRS 102, which allows exemption from disclosure of related party transaction with group companies which are 100% owned.
During the year £Nil (2024 - £Nil) was paid as dividends. The balance due to Directors at the year end was £Nil (2024 - £Nil).
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The controlling party is H A Esson by virtue of his majority shareholding in the Company.
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