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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
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ESP PROJECTS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
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FOR |
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ESP PROJECTS LIMITED |
ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ESP PROJECTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2 Broomgrove Road |
Sheffield |
South Yorkshire |
S10 2LR |
ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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ABRIDGED BALANCE SHEET |
31ST MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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ABRIDGED BALANCE SHEET - continued |
31ST MARCH 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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1. | STATUTORY INFORMATION |
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ESP Projects Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Changes in accounting policies and estimates |
Goodwill, being the amount paid in connection with the acquisition of a business in 2011 was being |
amortised evenly over its estimated useful life of 20 years. This is now being amortised evenly over its |
estimated useful life of 10 years which has led to a increase in amortisation in the year of £875. The |
reaming useful life at the balance sheet date is now 3 years. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill of £7,000 being the amount paid in connection with the acquisition of a business in 2011, is |
being amortised evenly over its estimated useful life of the presumed maximum of 10 years. |
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Goodwill of £32,500, being the amount paid in connection with the acquisition of a business during the |
year, is being amortised evenly over its estimate useful life of 5 years. |
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Tangible fixed assets |
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Plant and machinery etc - 33% on reducing balance and |
15% on reducing balance |
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Motor vehicles 25% on reducing balance |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st April 2017 |
and 31st March 2018 |
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AMORTISATION |
At 1st April 2017 |
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Amortisation for year |
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At 31st March 2018 |
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NET BOOK VALUE |
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At 31st March 2018 |
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At 31st March 2017 |
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ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st April 2017 |
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Additions |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Charge for year |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1st April 2017 |
and 31st March 2018 | 10,700 |
DEPRECIATION |
At 1st April 2017 | 1,783 |
Charge for year | 1,784 |
At 31st March 2018 | 3,567 |
NET BOOK VALUE |
At 31st March 2018 | 7,133 |
At 31st March 2017 | 8,917 |
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6. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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Included in other debtors falling due within one year is £23,921 (2017: £28,051) relating to |
prepayments and accrued income. |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2018 | 2017 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 10,500 | 21,000 |
ESP PROJECTS LIMITED (REGISTERED NUMBER: 04472697) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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A Ordinary | £1 | 496 | 496 |
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B Ordinary | £10 | 460 | 460 |
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C Ordinary | £10 | 4,580 | 4,580 |
5,536 | 5,536 |
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9. | RELATED PARTY DISCLOSURES |
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St Mary's Church |
A shareholder of the company. |
Goods and services to the value of £5,958 were supplied during the year (2017 £5,200). |
Amount due from the related party at the balance sheet date £4,065 (2017 £4,090). |
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Woodthorpe Development Trust |
A shareholder of the company. |
Goods and services to the value of £1,809 were supplied during the year (2017 £2,676). |
Amount due from the related party at the balance sheet date £524 (2017 £2,326) |
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Cathedral Archer Project |
A shareholder of the company. |
Goods and services to the value of £15 were supplied during the year (2017 £1,491). |
Amount due from the related party at the balance sheet date £NIL (2017 £NIL). |
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Soar Enterprises Ltd |
A shareholder of the company. |
Goods and services to the value of £8,202 were supplied during the year (2017 £12,780). |
Amount due from the related party at the balance sheet date £9,022 (2017 £6,024). |
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Longley Cathedral Community Association Ltd |
A shareholder of the company. |
Goods and services to the value of £15were supplied during the year (2017 £NIL). |
Amount to due from the related party at the balance sheet date £18 (2017 £NIL). |
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ESP At Home Ltd |
A shareholder of the company with common Director. |
Goods and services to the value of £54 were supplied during the year (2017 £6,584). |
A loan to the value of £105,000 were provided during the year ended 31 March 2014. |
Amount due from related party at the balance sheet date £85,307 (2017 £103,836). |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is ESP At Home Ltd. |
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The ultimate controlling party is
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