Company registration number 11223402 (England and Wales)
ESSOMENIC PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026
31 March 2026
PAGES FOR FILING WITH REGISTRAR
ESSOMENIC PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ESSOMENIC PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Investment property
3
1,629,320
1,629,320
Current assets
Debtors
4
-
0
2,344
Cash at bank and in hand
176,419
156,355
176,419
158,699
Creditors: amounts falling due within one year
5
(65,836)
(62,139)
Net current assets
110,583
96,560
Total assets less current liabilities
1,739,903
1,725,880
Creditors: amounts falling due after more than one year
6
(1,289,194)
(1,332,933)
Net assets
450,709
392,947
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
450,707
392,945
Total equity
450,709
392,947

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

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 July 2026
Mr R K Pitalia
Director
Company registration number 11223402 (England and Wales)
ESSOMENIC PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Essomenic Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor Waterside House, Waterside Drive, Wigan, WN3 5AZ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for rental services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The company recognises revenue from the following major sources:

- Rental Income

Rental Income

Rental income from investment properties is recognised on a straight-line basis over the period of the relevant lease, in accordance with Section 23 revenue of FRS 102. This includes the effect of any rent-free periods, stepped rents or other lease incentives, which are spread over the lease term so that rental income is recognised evenly.

Income from service charges recharged to tenants is recognised when the related services are provided, to the extent that the company is acting as principal. Amounts collected on behalf of tenants for expenditure where the company acts as agent are excluded from revenue.

1.4
Investment property

Investment property is stated at historical cost less accumulated depreciation and impairment losses, where applicable.

The directors have considered the current market value of the investment property and are of the opinion that the fair value is not materially different from its carrying amount as stated in these financial statements. Accordingly, no separate fair value adjustment has been recognised.

ESSOMENIC PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ESSOMENIC PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
1
1
3
Investment property
2026
£
Fair value
At 1 April 2025 and 31 March 2026
1,629,320

Investment property is stated at historical cost less accumulated depreciation and impairment losses, where applicable.

The directors have considered the current market value of the investment property and are of the opinion that the fair value is not materially different from its carrying amount as stated in these financial statements. Accordingly, no separate fair value adjustment has been recognised.

4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
-
0
2,344
ESSOMENIC PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Corporation tax
19,066
18,397
Other creditors
46,770
43,742
65,836
62,139
6
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
1,289,194
1,332,933
7
Directors' transactions

At the year end, a balance of £1,059 (2025: £1,059) was due to the director from the company.

The above loan is interest free with no fixed date of repayment.

8
Controlling party

By virtue of ownership of the majority issued share capital, the director is of the opinion that no single controlling party exists.

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