E.S.C.O.P.

(Registration number: 03296685)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	6	-	89
Current assets
Stocks	7	468	477
Debtors	8	1,966	2,464
Cash at bank and in hand		58,675	54,705
		61,109	57,646
Creditors: Amounts falling due within one year	9	(4,003)	(2,113)
Net current assets		57,106	55,533
Net assets		57,106	55,622
Reserves
Retained earnings		57,106	55,622
Surplus		57,106	55,622

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

E.S.C.O.P.

(Registration number: 03296685)
Balance Sheet as at 31 March 2026

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 July 2026 and signed on its behalf by:
 

......................................... Dr E Wolfram Director

E.S.C.O.P.

Notes to the Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Notaries House
Chapel Street
Exeter
Devon
EX1 1EZ
 

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

E.S.C.O.P.

Notes to the Financial Statements for the Year Ended 31 March 2026

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Development costs	20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

E.S.C.O.P.

Notes to the Financial Statements for the Year Ended 31 March 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2025 - 8).

E.S.C.O.P.

Notes to the Financial Statements for the Year Ended 31 March 2026

4	Profit before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	89	132

5	Intangible assets

	Development costs  £	Total £
Cost or valuation
At 1 April 2025	19,219	19,219
At 31 March 2026	19,219	19,219
Amortisation
At 1 April 2025	19,219	19,219
At 31 March 2026	19,219	19,219
Carrying amount
At 31 March 2026	-	-

6	Tangible assets

	Fixtures, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2025	7,405	7,405
At 31 March 2026	7,405	7,405
Depreciation
At 1 April 2025	7,316	7,316
Charge for the year	89	89
At 31 March 2026	7,405	7,405
Carrying amount
At 31 March 2026	-	-
At 31 March 2025	89	89

E.S.C.O.P.

Notes to the Financial Statements for the Year Ended 31 March 2026

7

Stocks

	2026 £	2025 £
Finished goods and goods for resale	468	477

8

Debtors

	2026 £	2025 £
Trade debtors	1,129	1,087
Prepayments and accrued income	837	1,377
Total current trade and other debtors	1,966	2,464

9

Creditors

	Note	2026 £	2025 £
Due within one year
Trade creditors		2,062	264
Other creditors		366	274
Accrued expenses		1,575	1,575
		4,003	2,113

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,652 (2025 - £3,652).