Company Registration No. 02900570 (England and Wales)
Enborne Properties Limited
Unaudited accounts
for the year ended 28 February 2023
Enborne Properties Limited
Unaudited accounts
Contents
Enborne Properties Limited
Company Information
for the year ended 28 February 2023
Directors
I Fewings
S Fewings
Company Number
02900570 (England and Wales)
Registered Office
The Clockhouse
Selsey Road
Sidlesham
PO20 7NE
United Kingdom
Enborne Properties Limited
Statement of financial position
as at 28 February 2023
Tangible assets
408,278
391,241
Investment property
1,874,750
1,874,750
Cash at bank and in hand
110,237
42,077
Creditors: amounts falling due within one year
(401,961)
(352,387)
Net current liabilities
(281,947)
(302,027)
Total assets less current liabilities
2,001,081
1,963,964
Creditors: amounts falling due after more than one year
(421,598)
(483,392)
Provisions for liabilities
Deferred tax
(428,526)
(428,526)
Net assets
1,150,957
1,052,046
Called up share capital
302
302
Revaluation reserve
279,261
279,261
Profit and loss account
871,394
772,483
Shareholders' funds
1,150,957
1,052,046
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by
I Fewings
Director
Company Registration No. 02900570
Enborne Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
Enborne Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 02900570. The registered office is The Clockhouse, Selsey Road, Sidlesham, PO20 7NE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Enborne Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
432,341
307,133
8,950
748,424
Additions
-
10,870
45,358
56,228
At 28 February 2023
432,341
318,003
54,308
804,652
At 1 March 2022
104,784
250,161
2,238
357,183
Charge for the year
8,647
16,967
13,577
39,191
At 28 February 2023
113,431
267,128
15,815
396,374
At 28 February 2023
318,910
50,875
38,493
408,278
At 28 February 2022
327,557
56,972
6,712
391,241
Fair value at 1 March 2022
1,874,750
At 28 February 2023
1,874,750
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
83,046
70,639
Trade creditors
5,112
10,602
Taxes and social security
23,792
19,710
Loans from directors
253,389
250,690
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
421,598
483,392
Aggregate of amounts that fall due for payment after five years
179,319
271,477
Enborne Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
9
Transactions with related parties
Dividends totalling £17,500 (2022 - £79,278) were paid to directors and their families during the year.
10
Average number of employees
During the year the average number of employees was 4 (2022: 5).