ESUBSTANCE LIMITED
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Cash
£1.6m
USD 2,103,799
-48% lowest in 3 filed years
Net assets
-£125k
USD -168,124
+92.7% highest in 3 filed years
Employees
107
+4.9% highest in 3 filed years
Profit before tax
£1.6m
USD 2,138,318
+500.7% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £31,717,258 | £35,189,063 | £28,007,832 | -20.4% | |
| Operating profit | -£403,738 | -£414,269 | £1,439,403 | +447.5% | |
| Profit before tax | -£25,324,032 | -£396,007 | £1,586,878 | +500.7% | |
| Net profit | -£25,395,849 | £109,751 | £1,541,166 | +1,304.2% | |
| Cash | £8,250,144 | £3,000,018 | £1,561,261 | -48% | |
| Total assets less current liabilities | -£1,079,363 | -£1,377,577 | -£78,953 | +94.3% | |
| Net assets | -£1,504,358 | -£1,707,634 | -£124,767 | +92.7% | |
| Equity | -£1,504,358 | -£1,707,634 | -£124,767 | +92.7% | |
| Average employees | 94 | 102 | 107 | +4.9% | |
| Wages | £5,350,414 | £7,437,891 | £6,135,823 | -17.5% | |
| Directors' remuneration | — | £1,173,664 | £1,699,358 | +44.8% |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -1.3% | -1.2% | 5.1% | |
| Net margin | -80.1% | 0.3% | 5.5% | |
| Gearing (liabilities / total assets) | 106.7% | 107.5% | 100.5% | |
| Current ratio | 0.88x | 0.87x | 0.97x | |
| Interest cover | -86.03x | -75.61x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- ESUBSTANCE LIMITED 1999-11-29 → present
- CHARCO 795 LIMITED 1999-08-23 → 1999-11-29
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- DJH Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting.”
Group structure
- ESUBSTANCE LIMITED · parent
- Ink Publishing (PTE) Limited 100%
- Ink Publishing Corporation 100%
- Ink do Brazil 99.9%
- Ink Publishing (HK) Limited 100%
- Ink Publishing Advertising (Shanghai) Co Limited 100%
- Travel Content LLC 80%
- Business Traveler LLC 80%
- Business Traveller Media Limited 80%
Significant events
- “In the following year, the company increased their shareholding in Business Traveller Media Limited and Business Traveler LLC to 100%.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GREENE, Ryan | Director | 2018-09-26 | Oct 1977 | American |
| KEATING, Michael Don | Director | 2003-04-22 | Dec 1970 | English |
| LESTER, Beth | Director | 2018-09-26 | Jul 1980 | American |
| LEVETON, Jay Robert | Director | 2018-09-26 | Apr 1976 | American |
| REID, Jason Frederick | Director | 2018-09-26 | Jan 1982 | American |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GODSAL, Hugh | Secretary | 2000-05-08 | 2014-10-09 |
| HALCO SECRETARIES LIMITED | Corporate Secretary | 1999-08-23 | 2000-05-08 |
| BICHOP, Mark | Director | 2000-05-08 | 2001-05-21 |
| BLISS, Alexander | Director | 2018-09-26 | 2020-06-30 |
| CAMPBELL, James Milne | Director | 2015-12-01 | 2026-04-28 |
| COLLINS, Mark | Director | 2000-05-26 | 2002-03-22 |
| GODSAL, Hugh | Director | 2000-05-08 | 2014-10-09 |
| HAMBRO, Charles | Director | 2000-05-26 | 2003-01-10 |
| HARKNESS, Peter Martin | Director | 2015-12-01 | 2018-09-27 |
| HORLICK, Timothy Piers | Director | 2006-02-03 | 2007-04-10 |
| JAMES, Jon | Director | 2001-01-30 | 2002-06-30 |
| JAMES, Sebastian Richard Edward Cuthbert | Director | 2000-06-26 | 2013-06-12 |
| LESLIE, Simon | Director | 2003-04-22 | 2023-03-31 |
| LOCHNER, Matthew Evan | Director | 2018-09-26 | 2019-08-16 |
| MITCHELL, Jamie Matthew | Director | 2003-05-29 | 2005-12-19 |
| MUFTI-BEY, Hishaam | Director | 2000-05-08 | 2002-05-31 |
| O'ROURKE, Jeffrey Ryan | Director | 2000-05-08 | 2015-02-23 |
| ROBSON, Christopher Clayton Douglas | Director | 2000-06-26 | 2015-04-20 |
| SINGTON, Adrian | Director | 2000-05-08 | 2003-03-12 |
| HALCO MANAGEMENT LIMITED | Corporate Director | 1999-08-23 | 2000-05-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Travel Content Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-01-11 | Active |
| Ink (Publishing) Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors, Significant influence | 2016-04-06 | Ceased 2023-01-11 |
Filing timeline
Last 20 of 228 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type full | |
| 2026-09-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-05-15 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-23 | AA | accounts | Accounts with accounts type full | |
| 2025-08-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-28 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-03-11 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-02-20 | AA | accounts | Accounts with accounts type audit exemption subsiduary | |
| 2025-02-20 | PARENT_ACC | accounts | Legacy | |
| 2025-02-20 | GUARANTEE2 | other | Legacy | |
| 2025-02-20 | AGREEMENT2 | other | Legacy | |
| 2024-09-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-01 | AA | accounts | Accounts with accounts type audit exemption subsiduary | |
| 2024-03-01 | PARENT_ACC | accounts | Legacy | |
| 2024-02-01 | AGREEMENT2 | other | Legacy | |
| 2024-02-01 | GUARANTEE2 | other | Legacy | |
| 2023-09-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-04-18 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-04-18 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-04-04 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.