Company registration number 06970654 (England and Wales)
Enco Limited
Unaudited
financial statements
for the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Enco Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Enco Limited
Statement of financial position
as at 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
822,860
625,852
Current assets
Stocks
40,350
45,150
Debtors
4
862,379
867,285
Cash at bank and in hand
415,071
126,440
1,317,800
1,038,875
Creditors: amounts falling due within one year
5
(946,446)
(579,368)
Net current assets
371,354
459,507
Total assets less current liabilities
1,194,214
1,085,359
Creditors: amounts falling due after more than one year
6
(386,683)
(730,659)
Provisions for liabilities
7
(73,249)
-
0
Net assets
734,282
354,700
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
734,182
354,600
Total equity
734,282
354,700

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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.

Enco Limited
Statement of financial position (continued)
as at 31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 December 2023 and are signed on its behalf by:
J Hart
Director
Company registration number 06970654 (England and Wales)
Enco Limited
Notes to the financial statements
for the year ended 31 July 2023
- 3 -
1
Accounting policies
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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

Turnover is recognised upon the provision of services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
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.

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 income statement 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.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Enco Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
1
Accounting policies
(continued)
- 4 -
Leases

Assets obtained under hire purchase contracts are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis over the period of the agreement.

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
20
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
463,877
141,749
180,243
785,869
Additions
-
0
107,887
137,518
245,405
At 31 July 2023
463,877
249,636
317,761
1,031,274
Depreciation and impairment
At 1 August 2022
-
0
59,922
100,095
160,017
Depreciation charged in the year
-
0
16,251
32,146
48,397
At 31 July 2023
-
0
76,173
132,241
208,414
Carrying amount
At 31 July 2023
463,877
173,463
185,520
822,860
At 31 July 2022
463,877
81,827
80,148
625,852
Enco Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
752,495
762,232
Other debtors
93,274
73,378
Prepayments and accrued income
16,610
31,675
862,379
867,285
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
220,402
70,810
Obligations under hire purchase contracts
28,817
19,310
Trade creditors
477,529
400,002
Amounts owed to group undertakings
-
0
992
Corporation tax
169,311
53,757
Other creditors
483
1,560
Accruals and deferred income
49,904
32,937
946,446
579,368

The bank loans are secured. Obligations under hire purchase contracts are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
322,842
686,772
Obligations under hire purchase contracts
63,841
43,887
386,683
730,659

The bank loans are secured. Obligations under hire purchase contracts are secured on the assets to which they relate.

Amounts included above which fall due after five years are as follows:
Payable by instalments
110,820
196,914
Enco Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 6 -
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
73,249
-
0
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Parent company

The company is a wholly owned subsidiary of Enco Property Holdings Ltd, a company registered in England and Wales, whose registered office is Bridgefield Works, Bridgefield Road, Elland, HX5 0SQ.

10
Company information

Enco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bridgefield Works, Bridgefield Road, Elland, West Yorkshire, HX5 0SQ.

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