ESP Scotland Limited Filleted accounts for Companies House (small and micro)

ESP SCOTLAND LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-04-01 Sage Accounts Production Advanced 2019 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP SC355740 2018-04-01 2019-03-31 SC355740 2019-03-31 SC355740 2018-03-31 SC355740 2017-04-01 2018-03-31 SC355740 2018-03-31 SC355740 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2018-04-01 2019-03-31 SC355740 core:LandBuildings core:ShortLeaseholdAssets 2018-04-01 2019-03-31 SC355740 core:PlantMachinery 2018-04-01 2019-03-31 SC355740 core:FurnitureFittings 2018-04-01 2019-03-31 SC355740 core:MotorVehicles 2018-04-01 2019-03-31 SC355740 bus:Director1 2018-04-01 2019-03-31 SC355740 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2018-03-31 SC355740 core:NetGoodwill 2019-03-31 SC355740 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-03-31 SC355740 core:LandBuildings 2018-03-31 SC355740 core:PlantMachinery 2018-03-31 SC355740 core:FurnitureFittingsToolsEquipment 2018-03-31 SC355740 core:MotorVehicles 2018-03-31 SC355740 core:PlantMachinery 2019-03-31 SC355740 core:FurnitureFittingsToolsEquipment 2019-03-31 SC355740 core:MotorVehicles 2019-03-31 SC355740 core:LandBuildings 2018-04-01 2019-03-31 SC355740 core:FurnitureFittingsToolsEquipment 2018-04-01 2019-03-31 SC355740 core:WithinOneYear 2019-03-31 SC355740 core:WithinOneYear 2018-03-31 SC355740 core:ShareCapital 2019-03-31 SC355740 core:ShareCapital 2018-03-31 SC355740 core:RetainedEarningsAccumulatedLosses 2019-03-31 SC355740 core:RetainedEarningsAccumulatedLosses 2018-03-31 SC355740 core:BetweenOneFiveYears 2018-03-31 SC355740 core:NetGoodwill 2018-03-31 SC355740 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2018-03-31 SC355740 core:LandBuildings 2018-03-31 SC355740 core:PlantMachinery 2018-03-31 SC355740 core:FurnitureFittingsToolsEquipment 2018-03-31 SC355740 core:MotorVehicles 2018-03-31 SC355740 bus:Director1 2018-03-31 SC355740 bus:Director1 2019-03-31 SC355740 bus:Director1 2017-03-31 SC355740 bus:Director1 2018-03-31 SC355740 bus:Director1 2017-04-01 2018-03-31 SC355740 bus:SmallEntities 2018-04-01 2019-03-31 SC355740 bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 SC355740 bus:FullAccounts 2018-04-01 2019-03-31 SC355740 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 SC355740 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 SC355740 core:OfficeEquipment 2018-04-01 2019-03-31 SC355740 core:ComputerEquipment 2018-04-01 2019-03-31 SC355740 core:ComputerEquipment 2018-03-31 SC355740 core:KeyManagementIndividualGroup1 2018-04-01 2019-03-31 SC355740 core:KeyManagementIndividualGroup1 2019-03-31 SC355740 core:KeyManagementIndividualGroup1 2018-03-31

COMPANY REGISTRATION NUMBER: SC355740

ESP Scotland Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2019

ESP Scotland Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Intangible assets	5	8,044	10,048
Tangible assets	6	32,950	59,622
		--------	--------
		40,994	69,670

Current assets

Stocks		178,260	227,217
Debtors	7	829,288	721,935
Cash at bank and in hand		484,981	344,493
		-------------	-------------
		1,492,529	1,293,645

Creditors: amounts falling due within one year	8	1,059,186		957,295
		-------------		-------------
Net current assets			433,343		336,350
			----------		----------
Total assets less current liabilities			474,337		406,020
			----------		----------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	473,337	405,020
	----------	----------
Shareholders funds	474,337	406,020
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2019 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ESP Scotland Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 19 December 2019 , and are signed on behalf of the board by:

Mrs S Holly

Director

Company registration number: SC355740

ESP Scotland Limited

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 272 Bath Street, Glasgow, G2 4JR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Revenue recognition Revenue from the provision of services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably (c) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. (d) Operating leases Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. (e) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

(f) Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Intellectual Property	-	20% reducing balance

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

(g) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(h) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leased-out Assets	-	20% reducing balance
Plant & Machinery	-	20% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance

Equipment	-	20% reducing balance
Software	-	20% reducing balance

(i) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(j) Financial instruments

Financial instruments are classified as accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 37 (2018: 34 ).

5. Intangible assets

	Goodwill	Intellectual property	Total
	£	£	£
Cost
At 1 April 2018 and 31 March 2019	2	40,000	40,002
	----	--------	--------
Amortisation
At 1 April 2018	–	29,954	29,954
Charge for the year	–	2,004	2,004
	----	--------	--------
At 31 March 2019	–	31,958	31,958
	----	--------	--------
Carrying amount
At 31 March 2019	2	8,042	8,044
	----	--------	--------
At 31 March 2018	2	10,046	10,048
	----	--------	--------

6. Tangible assets

	Leased-out Assets	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Software	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2018	68,521	38,021	28,101	6,800	6,750	148,193
Additions	–	–	13,124	–	–	13,124
Disposals	( 68,521)	( 13,062)	( 2,482)	–	( 6,750)	( 90,815)
	--------	--------	--------	-------	-------	----------
At 31 Mar 2019	–	24,959	38,743	6,800	–	70,502
	--------	--------	--------	-------	-------	----------
Depreciation
At 1 Apr 2018	46,080	21,844	15,087	2,337	3,223	88,571
Charge for the year	4,488	2,871	3,488	1,395	708	12,950
Disposals	( 50,568)	( 7,887)	( 1,583)	–	( 3,931)	( 63,969)
	--------	--------	--------	-------	-------	----------
At 31 Mar 2019	–	16,828	16,992	3,732	–	37,552
	--------	--------	--------	-------	-------	----------
Carrying amount
At 31 Mar 2019	–	8,131	21,751	3,068	–	32,950
	--------	--------	--------	-------	-------	----------
At 31 Mar 2018	22,441	16,177	13,014	4,463	3,527	59,622
	--------	--------	--------	-------	-------	----------

7. Debtors

	2019	2018
	£	£
Trade debtors	458,265	252,217
Other debtors	371,023	469,718
	----------	----------
	829,288	721,935
	----------	----------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans	–	17,299
Trade creditors	764,764	709,991
Corporation tax	22,147	14,270
Social security and other taxes	65,070	84,741
Director loan accounts	366	–
Other creditors	206,839	130,994
	-------------	----------
	1,059,186	957,295
	-------------	----------

Bank loans are secured against the associated assets to which they relate.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2019	2018
	£	£
Not later than 1 year	36,399	40,304
Later than 1 year and not later than 5 years	–	34,526
	--------	--------
	36,399	74,830
	--------	--------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S Holly	58,791	1,599	( 60,756)	( 366)
	--------	-------	--------	----

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs S Holly	( 9,487)	83,138	( 14,860)	58,791
	-------	--------	--------	--------

Interest has been charged on the loan to the director at the HMRC average rate of interest for beneficial loans applicable to the period covered.

11. Related party transactions

During the period the company made available loans to the director . These loans were repayable on demand. The balance owed to the director at the year end was £ 366 (2018: £ 58,791 owed by the director).