Company Registration Number 04711593 (England and Wales)
ENSIGN SITE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ENSIGN SITE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ENSIGN SITE SERVICES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
31,732
39,796
Current assets
Stocks
9,500
12,000
Debtors
4
180,073
197,242
Cash at bank and in hand
29,073
63,252
218,646
272,494
Creditors: amounts falling due within one year
5
(52,761)
(89,942)
Net current assets
165,885
182,552
Total assets less current liabilities
197,617
222,348
Creditors: amounts falling due after more than one year
6
(12,812)
Provisions for liabilities
(5,605)
(7,109)
Net assets
192,012
202,427
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
191,012
201,427
Total equity
192,012
202,427
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ENSIGN SITE SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
2023-03-31
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 November 2023 and are signed on its behalf by:
Mr OA Odutolu
Director
Company Registration No. 04711593
ENSIGN SITE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Ensign Site Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 Canal Bridge Centre, Meadow Lane, Ellesmere Port, Cheshire, CH65 4EH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on reducing balance
Computer equipment
50% straight line
Office equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ENSIGN SITE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
ENSIGN SITE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
8
3
Tangible fixed assets
Plant and equipment
Computer equipment
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
120,308
6,556
3,244
70,868
200,976
Additions
324
324
At 31 March 2023
120,308
6,880
3,244
70,868
201,300
Depreciation and impairment
At 1 April 2022
103,566
5,771
2,428
49,415
161,180
Depreciation charged in the year
3,348
627
122
4,291
8,388
At 31 March 2023
106,914
6,398
2,550
53,706
169,568
Carrying amount
At 31 March 2023
13,394
482
694
17,162
31,732
At 31 March 2022
16,742
785
816
21,453
39,796
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
75,679
96,176
Corporation tax recoverable
7,354
354
Other debtors
800
3,712
Prepayments and accrued income
1,240
1,475
85,073
101,717
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
95,000
95,525
Total debtors
180,073
197,242
ENSIGN SITE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Hire purchase contracts
12,812
4,342
Trade creditors
19,293
63,137
Corporation tax
4,961
Other taxation and social security
6,907
8,962
Other creditors
4,895
5,061
Directors' current accounts
534
5,865
Accruals and deferred income
3,359
2,575
52,761
89,942
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
12,812