IRIS Accounts Production v22.1.0.628 01860317 Board of Directors Board of Directors 1.11.20 31.10.21 31.10.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure018603172020-10-31018603172021-10-31018603172020-11-012021-10-31018603172019-10-31018603172019-11-012020-10-31018603172020-10-3101860317ns15:PoundSterling2020-11-012021-10-3101860317ns11:Director12020-11-012021-10-3101860317ns11:Director22020-11-012021-10-3101860317ns11:PrivateLimitedCompanyLtd2020-11-012021-10-3101860317ns11:SmallEntities2020-11-012021-10-3101860317ns11:AuditExempt-NoAccountantsReport2020-11-012021-10-3101860317ns11:SmallCompaniesRegimeForDirectorsReport2020-11-012021-10-3101860317ns11:SmallCompaniesRegimeForAccounts2020-11-012021-10-3101860317ns11:FullAccounts2020-11-012021-10-310186031712020-11-012021-10-3101860317ns11:CompanySecretary12020-11-012021-10-3101860317ns11:RegisteredOffice2020-11-012021-10-3101860317ns6:CurrentFinancialInstruments2021-10-3101860317ns6:CurrentFinancialInstruments2020-10-3101860317ns6:Non-currentFinancialInstruments2021-10-3101860317ns6:Non-currentFinancialInstruments2020-10-3101860317ns6:ShareCapital2021-10-3101860317ns6:ShareCapital2020-10-3101860317ns6:SharePremium2021-10-3101860317ns6:SharePremium2020-10-3101860317ns6:RetainedEarningsAccumulatedLosses2021-10-3101860317ns6:RetainedEarningsAccumulatedLosses2020-10-3101860317ns6:NetGoodwill2020-11-012021-10-3101860317ns6:IntangibleAssetsOtherThanGoodwill2020-11-012021-10-3101860317ns6:ShortLeaseholdAssetsns6:LandBuildings2020-11-012021-10-3101860317ns6:FurnitureFittings2020-11-012021-10-3101860317ns6:MotorVehicles2020-11-012021-10-3101860317ns6:NetGoodwill2020-10-3101860317ns6:NetGoodwill2021-10-3101860317ns6:NetGoodwill2020-10-3101860317ns6:ShortLeaseholdAssetsns6:LandBuildings2020-10-3101860317ns6:FurnitureFittings2020-10-3101860317ns6:MotorVehicles2020-10-3101860317ns6:ShortLeaseholdAssetsns6:LandBuildings2021-10-3101860317ns6:FurnitureFittings2021-10-3101860317ns6:MotorVehicles2021-10-3101860317ns6:ShortLeaseholdAssetsns6:LandBuildings2020-10-3101860317ns6:FurnitureFittings2020-10-3101860317ns6:MotorVehicles2020-10-3101860317ns6:CostValuation2020-10-3101860317ns6:AdditionsToInvestments2021-10-3101860317ns6:CostValuation2021-10-3101860317ns6:WithinOneYearns6:CurrentFinancialInstruments2021-10-3101860317ns6:WithinOneYearns6:CurrentFinancialInstruments2020-10-3101860317ns6:Secured2021-10-3101860317ns6:Secured2020-10-31
















ELGON (ENFIELD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021






ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELGON (ENFIELD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2021







DIRECTORS: A J Lakhani
J J Lakhani





SECRETARY: A J Lakhani





REGISTERED OFFICE: 291 High Street
Enfield
Middlesex
EN3 4DN





REGISTERED NUMBER: 01860317





ACCOUNTANTS: Vinney Ross & Co Ltd
Greenhill House, Suite B
184 Station Road
Harrow
Middlesex
HA1 2RH

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

BALANCE SHEET
31 OCTOBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,108 4,144
Investments 6 15,483,200 15,338,200
15,486,308 15,342,344

CURRENT ASSETS
Stocks 150,597 159,340
Debtors 7 584,484 637,832
Cash at bank and in hand 1,206,593 1,649,885
1,941,674 2,447,057
CREDITORS
Amounts falling due within one
year

8

851,051

895,246
NET CURRENT ASSETS 1,090,623 1,551,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,576,931

16,894,155

CREDITORS
Amounts falling due after more
than one year

9

3,967,987

5,160,000
NET ASSETS 12,608,944 11,734,155

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 47,158 47,158
Retained earnings 12,561,686 11,686,897
SHAREHOLDERS' FUNDS 12,608,944 11,734,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

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.

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

BALANCE SHEET - continued
31 OCTOBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2022 and were signed on its behalf by:




A J Lakhani - Director



J J Lakhani - Director


ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1. STATUTORY INFORMATION

Elgon (Enfield) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

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.

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.

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.

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.

Fixed asset investments
The directors have not included the properties at their market value as, in their opinion, the expense of valuing those properties would not be justifiable. No depreciation is provided on those properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2020
and 31 October 2021 477,069
AMORTISATION
At 1 November 2020
and 31 October 2021 477,069
NET BOOK VALUE
At 31 October 2021 -
At 31 October 2020 -

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2020
and 31 October 2021 38,685 63,973 5,201 107,859
DEPRECIATION
At 1 November 2020 37,124 61,390 5,201 103,715
Charge for year 390 646 - 1,036
At 31 October 2021 37,514 62,036 5,201 104,751
NET BOOK VALUE
At 31 October 2021 1,171 1,937 - 3,108
At 31 October 2020 1,561 2,583 - 4,144

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2020 15,338,200
Additions 145,000
At 31 October 2021 15,483,200
NET BOOK VALUE
At 31 October 2021 15,483,200
At 31 October 2020 15,338,200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 467,201 497,201
Other debtors 117,283 140,631
584,484 637,832

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 357,730 455,257
Taxation and social security 224,257 238,125
Other creditors 269,064 201,864
851,051 895,246

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Bank loans 3,967,987 5,160,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,967,987 5,160,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 3,967,987 5,160,000

The bank loan is secured over the assets of the company.


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company leases a property from a director in which he has an interest. The rent payable by the company is at commercial rates. In addition, the company pays a property management and maintenance charge to another company in which a director has an interest.