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REGISTERED NUMBER: 07962988 (England and Wales)















ENGLEWOOD COMMERCIAL LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023






ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ENGLEWOOD COMMERCIAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: P E Smith FRICS





REGISTERED OFFICE: 2 Brockworth Road
Churchdown
Gloucester
Gloucestershire
GL3 2NH





REGISTERED NUMBER: 07962988 (England and Wales)





ACCOUNTANTS: Philip Smart & Associates
Accountants and Chartered Tax Advisers
Lynchet House
Nateby
Kirkby Stephen
Cumbria
CA17 4JP

ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 926 635
926 635

CURRENT ASSETS
Debtors 6 28,790 34,476
Cash at bank 26,663 26,616
55,453 61,092
CREDITORS
Amounts falling due within one year 7 53,950 50,660
NET CURRENT ASSETS 1,503 10,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,429

11,067

PROVISIONS FOR LIABILITIES 8 162 103
NET ASSETS 2,267 10,964

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 2,257 10,954
SHAREHOLDERS' FUNDS 2,267 10,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)

BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





P E Smith FRICS - Director


ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Englewood Commercial Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents the revenue generated from the sale of services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.

Revenue from services is recognised when the services have been provided and the contractual right to the consideration has been earned. In the case of incomplete contracts; an assessment is made of the extent to which revenue has been earned and the amount determined is recognised within turnover.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer and office equipment - 25 per cent on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,000
AMORTISATION
At 1 March 2022
and 28 February 2023 5,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Computer
and
office
equipment
£   
COST
At 1 March 2022 2,727
Additions 599
At 28 February 2023 3,326
DEPRECIATION
At 1 March 2022 2,092
Charge for year 308
At 28 February 2023 2,400
NET BOOK VALUE
At 28 February 2023 926
At 28 February 2022 635

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,183 33,692
Other debtors 201 -
Corporation tax 2,244 203
Prepayments and accrued income 1,162 581
28,790 34,476

ENGLEWOOD COMMERCIAL LTD (REGISTERED NUMBER: 07962988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax - 293
Other taxation and social
security 26 -
Other creditors - 927
Directors' loan accounts 49,844 45,708
Accrued expenses 4,080 3,732
53,950 50,660

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 162 103

Deferred
tax
£   
Balance at 1 March 2022 103
Accelerated capital allowances 59
Balance at 28 February 2023 162

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the accounting period, no advances or credits were granted by the company to its director. In addition; no guarantees of any kind were entered into by the company on behalf of its director.

The director's loan account with the company remained in credit throughout the accounting period.

11. RELATED PARTY DISCLOSURES

Mr P E Smith owns the entire share capital of the company and has ultimate control of it by virtue of his shareholding.

On 5 March 2012; Mr Smith granted a non-exclusive licence for the company to occupy property in his ownership. The total rent and service charges paid by the company to Mr Smith during the accounting period was £1,512.

During the accounting reference period; the company provided property management services to Mr Smith in respect of which fees amounting to £2,908 were received.

Dividends totalling £8,500, loan interest of £1,331 and directors remuneration of £6,900 were paid to Mr Smith during the year.