Company registration number 10007299 (England and Wales)
Enco Property Holdings Ltd
Unaudited
financial statements
for the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Enco Property Holdings Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Enco Property Holdings Ltd
Statement of financial position
as at 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
238,107
227,430
Investments
3
100
100
238,207
227,530
Current assets
Debtors
4
105,188
98,776
Cash at bank and in hand
1,752
168
106,940
98,944
Creditors: amounts falling due within one year
5
(3,258)
(5,174)
Net current assets
103,682
93,770
Net assets
341,889
321,300
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
341,789
321,200
Total equity
341,889
321,300
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.
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 10007299 (England and Wales)
Enco Property Holdings Ltd
Notes to the financial statements
for the year ended 31 July 2023
- 2 -
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover represents the fair value of the consideration received or receivable for goods and services provided in the normal course of business. Turnover is recognised on an accruals basis.
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
Motor vehicles
25% reducing balance
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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.
Enco Property Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2023
1
Accounting policies
(continued)
- 3 -
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.
2
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 August 2022
227,430
227,430
Additions
12,500
12,500
At 31 July 2023
227,430
12,500
239,930
Depreciation and impairment
At 1 August 2022
Depreciation charged in the year
1,823
1,823
At 31 July 2023
1,823
1,823
Carrying amount
At 31 July 2023
227,430
10,677
238,107
At 31 July 2022
227,430
227,430
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
12,002
7,200
Amounts owed by group undertakings
992
Other debtors
93,186
90,584
105,188
98,776
Enco Property Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,056
3,616
Other taxation and social security
1,202
1,558
3,258
5,174
6
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
7
Company information
Enco Property Holdings Ltd 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.