ENKAE PRESTIGE MOTORS LTD

Company Registration Number:
09951828 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2023

Period of accounts

Start date: 31 January 2022

End date: 30 January 2023

ENKAE PRESTIGE MOTORS LTD

Contents of the Financial Statements

for the Period Ended 30 January 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ENKAE PRESTIGE MOTORS LTD

Company Information

for the Period Ended 30 January 2023




Registered office: 537
Blackmoorfoot Road
Huddersfield
GBR
HD4 5NT
Company Registration Number: 09951828 (England and Wales)

ENKAE PRESTIGE MOTORS LTD

Balance sheet

As at 30 January 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 10,800 14,400
Tangible assets: 5 1,047,234 85,704
Total fixed assets: 1,058,034 100,104
Current assets
Stocks: 4,844,575 3,275,970
Debtors: 6 16,612 500
Cash at bank and in hand: 321,218 250,075
Total current assets: 5,182,405 3,526,545
Creditors: amounts falling due within one year: 7 ( 1,029,233 ) ( 1,476,339 )
Net current assets (liabilities): 4,153,172 2,050,206
Total assets less current liabilities: 5,211,206 2,150,310
Creditors: amounts falling due after more than one year: 8 ( 4,118,089 ) ( 1,180,689 )
Total net assets (liabilities): 1,093,117 969,621

The notes form part of these financial statements

ENKAE PRESTIGE MOTORS LTD

Balance sheet continued

As at 30 January 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 1
Profit and loss account: 1,093,017 969,620
Shareholders funds: 1,093,117 969,621

For the year ending 30 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 October 2023
And Signed On Behalf Of The Board By:

Name: Khalid Ahmad
Status: Director

The notes form part of these financial statements

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
    Freehold buildings over 50 years
    Leasehold land and buildings over the lease term
    Plant and machinery over 5 years
    Fixtures, fittings, tools and equipment over 5 years

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

    Other accounting policies

    Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (i.e liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 21 22

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

  • 3. Off balance sheet disclosure

    No

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

4. Intangible assets

Other Total
Cost £ £
At 31 January 2022 18,000 18,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 January 2023 18,000 18,000
Amortisation
Amortisation at 31 January 2022 3,600 3,600
Charge for year 3,600 3,600
On disposals - -
Other adjustments - -
Amortisation at 30 January 2023 7,200 7,200
Net book value
Net book value at 30 January 2023 10,800 10,800
Net book value at 30 January 2022 14,400 14,400

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

5. Tangible assets

Land & buildings Fixtures & fittings Total
Cost £ £ £
At 31 January 2022 - 108,957 108,957
Additions 976,769 5,464 982,233
Disposals - - -
Revaluations - - -
Transfers - - -
At 30 January 2023 976,769 114,421 1,091,190
Depreciation
At 31 January 2022 - 23,253 23,253
Charge for year - 20,703 20,703
On disposals - - -
Other adjustments - - -
At 30 January 2023 - 43,956 43,956
Net book value
At 30 January 2023 976,769 70,465 1,047,234
At 30 January 2022 - 85,704 85,704

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

6. Debtors


2023
£

2022
£
Trade debtors 16,612 500
Total 16,612 500

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 709,207 939,324
Taxation and social security 99,738 19,336
Other creditors 220,288 517,679
Total 1,029,233 1,476,339

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

8.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 1,294,009 378,554
Other creditors 2,824,080 802,135
Total 4,118,089 1,180,689