ESUBSTANCE LIMITED
Get an alert when ESUBSTANCE LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£3.8M
-64.2% vs 2023
Net assets
-£2.1M
-11.9% vs 2023
Employees
102
+8.5% vs 2023
Profit before tax
-£498K
+98.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £30,268,873 | £33,097,424 | +9.3% | |
| Operating profit | -£385,301 | -£389,644 | -1.1% | |
| Profit before tax | -£32,283,076 | -£497,543 | +98.5% | |
| Net profit | -£32,374,628 | £137,891 | +100.4% | |
| Cash | £10,517,284 | £3,769,223 | -64.2% | |
| Total assets less current liabilities | -£1,375,972 | -£1,730,788 | -25.8% | |
| Net assets | -£1,917,756 | -£2,145,471 | -11.9% | |
| Equity | -£1,917,756 | -£2,145,471 | -11.9% | |
| Average employees | 94 | 102 | +8.5% | |
| Wages | £6,820,708 | £9,344,966 | +37% | |
| Directors' remuneration | — | — | — |
Figures converted to GBP from USD at 0.749 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 |
|---|---|---|---|
| Operating margin | -1.3% | -1.2% | |
| Net margin | -107.0% | 0.4% | |
| Current ratio | 1.17x | 1.16x | |
| Interest cover | -64.40x | -56.60x |
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
- Athos Louca (Loucas)
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
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
- “The year ended 31 December 2024 saw the Company recording an EBITDA of $0.6m (2023: LBITDA of $31.5m).”
- “During the year ended 31 December 2023, as part of a group reconstruction, the Company recognised a write off of amounts due from related parties of $32m. Excluding this non-trading related write off, trading EBITDA was $0.5m for the year.”
- “During the year, the business continued to develop its digital content offering across various platforms.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 19 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CAMPBELL, James Milne | Director | 2015-12-01 | Sep 1963 | English |
| 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 19 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 |
| 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 225 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-03-23 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 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 | |
| 2023-03-28 | SH01 | capital | Capital allotment shares | |
| 2023-03-28 | SH01 | capital | Capital allotment shares | |
| 2023-03-23 | MA | incorporation | Memorandum articles |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.