0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 475,000 475,000 475,000 xbrli:pure xbrli:shares iso4217:GBP 02701563 2022-03-01 2023-02-28 02701563 2023-02-28 02701563 2022-02-28 02701563 2021-03-01 2022-02-28 02701563 2022-02-28 02701563 2021-02-28 02701563 bus:Director3 2022-03-01 2023-02-28 02701563 core:WithinOneYear 2023-02-28 02701563 core:WithinOneYear 2022-02-28 02701563 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 02701563 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-28 02701563 core:UKTax 2022-03-01 2023-02-28 02701563 core:UKTax 2021-03-01 2022-02-28 02701563 core:ShareCapital 2023-02-28 02701563 core:ShareCapital 2022-02-28 02701563 core:RetainedEarningsAccumulatedLosses 2023-02-28 02701563 core:RetainedEarningsAccumulatedLosses 2022-02-28 02701563 core:LandBuildings 2023-02-28 02701563 core:LandBuildings 2022-02-28 02701563 bus:SmallEntities 2022-03-01 2023-02-28 02701563 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 02701563 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 02701563 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02701563 bus:FullAccounts 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 02701563
ENTERPRISE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 February 2023
ENTERPRISE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
475,000
475,000
CURRENT ASSETS
Debtors
6
222,258
57,352
Investments
7
119,267
Cash at bank and in hand
250,427
614,681
---------
---------
591,952
672,033
CREDITORS: amounts falling due within one year
8
( 11,042)
( 45,676)
---------
---------
NET CURRENT ASSETS
580,910
626,357
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,055,910
1,101,357
PROVISIONS
Taxation including deferred tax
( 24,166)
( 24,166)
------------
------------
NET ASSETS
1,031,744
1,077,191
------------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
1,031,644
1,077,091
------------
------------
SHAREHOLDERS FUNDS
1,031,744
1,077,191
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ENTERPRISE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
R N Tobias
Director
Company registration number: 02701563
ENTERPRISE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands Court, Tunstall Road, Leeds, LS11 5HL.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. TAX ON (LOSS)/PROFIT
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
7,892
5,005
Adjustments in respect of prior periods
359
( 165)
-------
-------
Total current tax
8,251
4,840
-------
-------
Deferred tax:
Origination and reversal of timing differences
9,500
-------
--------
Tax on (loss)/profit
8,251
14,340
-------
--------
5. TANGIBLE ASSETS
Investment Property
£
Cost
At 1 March 2022 and 28 February 2023
475,000
---------
Depreciation
At 1 March 2022 and 28 February 2023
---------
Carrying amount
At 28 February 2023
475,000
---------
At 28 February 2022
475,000
---------
Investment property has been valued by a director, on an open market basis, as at 28 February 2023.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment Property
£
At 28 February 2023
Aggregate cost
274,773
Aggregate depreciation
---------
Carrying value
274,773
---------
At 28 February 2022
Aggregate cost
274,773
Aggregate depreciation
---------
Carrying value
274,773
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
34,520
Other debtors
222,258
22,832
---------
--------
222,258
57,352
---------
--------
7. INVESTMENTS
2023
2022
£
£
Other investments
119,267
---------
----
Current asset investments totalling £119,267 comprises cryptocurrency held by the company.
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
38,000
Corporation tax
7,892
4,646
Other creditors
3,150
3,030
--------
--------
11,042
45,676
--------
--------