Esme Headen Limited 30/06/2023 iXBRL

ESME HEADEN LIMITED - Company Information

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Company registration number: SC474324

Esme Headen Limited

Unaudited filleted abridged financial statements

30 June 2023

Esme Headen Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

Esme Headen Limited

Directors and other information


	Directors	Esme J. Headen
		David M. Headen


	Company number	SC474324


	Registered office	8 Mitchell Street
		Leven
		Fife
		KY8 4HJ


	Accountants	Paterson Boyd & Co
		Chartered Certified Accountants
		8 Mitchell Street
		Leven
		Fife
		KY8 4HJ




	Bankers	Bank of Scotland
		PO Box 1000
		BX2 1LB

Esme Headen Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Esme Headen Limited

Year ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Esme Headen Limited for the year ended 30 June 2023 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Esme Headen Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Esme Headen Limited and state those matters that we have agreed to state to the board of directors of Esme Headen Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Esme Headen Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Esme Headen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Esme Headen Limited. You consider that Esme Headen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Esme Headen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Paterson Boyd & Co

Chartered Certified Accountants

8 Mitchell Street

Leven

Fife

KY8 4HJ

26 March 2024

Esme Headen Limited

Abridged statement of financial position

30 June 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Intangible assets	6	-		61,400
Tangible assets	7	-		18,089
		_______		_______
			-		79,489

Current assets
Stocks		-		2,000
Debtors		269,375		61,879
Cash at bank and in hand		719,895		525,084
		_______		_______
		989,270		588,963
Creditors: amounts falling due
within one year		( 56,913)		( 168,797)
		_______		_______
Net current assets			932,357		420,166
			_______		_______
Total assets less current liabilities			932,357		499,655


Provisions for liabilities			-		( 3,437)

			_______		_______
Net assets			932,357		496,218
			_______		_______

Capital and reserves
Called up share capital	8		100		100
Profit and loss account			932,257		496,118
			_______		_______
Shareholders funds			932,357		496,218
			_______		_______

For the year ending 30 June 2023 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.

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 Section 1A of 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 abridged statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 26 March 2024 , and are signed on behalf of the board by:

Esme J. Headen

Director

Company registration number: SC474324

Esme Headen Limited

Notes to the financial statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8 Mitchell Street, Leven, Fife, KY8 4HJ.

2. Statement of compliance

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

3. Accounting policies

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over thecompanies interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

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:


Goodwill	-	10% straight line

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.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.

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:


Fittings fixtures and equipment	-	20.00 %	reducing balance

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

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).

5. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2023	2022
	£	£
Remuneration	8,840	8,840
	_______	_______

6. Intangible assets


		£
	Cost
	At 1 July 2022	307,000
	Disposals	(307,000)
		_______
	At 30 June 2023	-
		_______
	Amortisation
	At 1 July 2022	245,600
	Disposals	( 245,600)
		_______
	At 30 June 2023	-
		_______
	Carrying amount
	At 30 June 2023	-
		_______
	At 30 June 2022	61,400
		_______

7. Tangible assets


		£
	Cost
	At 1 July 2022	49,128
	Disposals	( 49,128)
		_______
	At 30 June 2023	-
		_______
	Depreciation
	At 1 July 2022	31,039
	Disposals	( 31,039)
		_______
	At 30 June 2023	-
		_______
	Carrying amount
	At 30 June 2023	-
		_______
	At 30 June 2022	18,089
		_______

8. Called up share capital

Issued, called up and fully paid

	2023		2022
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:
2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Esme J. Headen	( 104,815)	208,845	104,030
		_______	_______	_______

2022
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Esme J. Headen	( 116,382)	11,567	( 104,815)
		_______	_______	_______

10. Related party transactions

During the year rent totalling £10,796 (2022: £21,592) was paid to Dalglen (No. 1008) Limited, a company in which David M Headen is the sole director and shareholder.