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COMPANY REGISTRATION NUMBER: 06084973
ENABLING TECHNOLOGIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
ENABLING TECHNOLOGIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
Contents
Page
Balance sheet 1
Notes to the financial statements 2
ENABLING TECHNOLOGIES LIMITED
BALANCE SHEET
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
615
1,285
Current assets
Stocks
205,028
263,301
Debtors
6
257,447
132,250
Cash at bank and in hand
145,571
150,282
------------
------------
608,046
545,833
Creditors: amounts falling due within one year
7
( 297,532)
( 228,573)
------------
------------
Net current assets
310,514
317,260
------------
------------
Total assets less current liabilities
311,129
318,545
------------
------------
Net assets
311,129
318,545
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
311,029
318,445
------------
------------
Shareholders funds
311,129
318,545
------------
------------
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 profit and loss account 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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
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:
C St John Cordingley
Director
Company registration number: 06084973
ENABLING TECHNOLOGIES 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 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The turnover is derived from the company's principal activity which was carried out wholly within the United Kingdom.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Computer equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 9 ).
5. Tangible assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
2,149
14,761
16,910
------------
------------
------------
Depreciation
At 1 March 2022
1,861
13,764
15,625
Charge for the year
58
612
670
------------
------------
------------
At 28 February 2023
1,919
14,376
16,295
------------
------------
------------
Carrying amount
At 28 February 2023
230
385
615
------------
------------
------------
At 28 February 2022
288
997
1,285
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
244,229
102,999
Prepayments and accrued income
3,318
4,130
Corporation tax recoverable
12,350
Directors' loan account
9,900
3,168
Other debtors
9,603
------------
------------
257,447
132,250
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
136,144
142,250
Amount owed to related undertaking
101,739
55,938
Accruals and deferred income
4,000
4,000
Social security and other taxes
47,698
19,242
Other creditors
7,951
7,143
------------
------------
297,532
228,573
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Related party transactions
Included within debtors are directors' loan accounts of £9,900 (2022: £3,168) which are unsecured and currently interest-free. The loans were repaid before 30 November 2023. Included within creditors is a loan due to a company controlled by the director in the amount of £101,739 (2022: £55,938). This loan is unsecured, repayable on demand and currently interest-free