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REGISTERED NUMBER: 07366841 (England and Wales)










Re-Enhance Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Re-Enhance Limited (Registered number: 07366841)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Re-Enhance Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Dr M J Kinsella





SECRETARY: Mrs B Kinsella





REGISTERED OFFICE: 31 Sackville Street
Manchester
England
M1 3LZ





REGISTERED NUMBER: 07366841 (England and Wales)





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

Re-Enhance Limited (Registered number: 07366841)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 85,917 7,070

CURRENT ASSETS
Stocks 25,000 20,000
Debtors 6 458,836 329,615
Cash at bank 179 446
484,015 350,061
CREDITORS
Amounts falling due within one year 7 (450,179 ) (335,118 )
NET CURRENT ASSETS 33,836 14,943
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,753

22,013

CREDITORS
Amounts falling due after more than one year 8 (119,258 ) (17,672 )
NET ASSETS 495 4,341

CAPITAL AND RESERVES
Called up share capital 9 199 199
Retained earnings 296 4,142
SHAREHOLDERS' FUNDS 495 4,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Re-Enhance Limited (Registered number: 07366841)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





Dr M J Kinsella - Director


Re-Enhance Limited (Registered number: 07366841)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
31 Sackville Street
Manchester
M1 3LZ
England

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.





Re-Enhance Limited (Registered number: 07366841)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Plant and machinery 15% straight line
Fixtures and fittings 15% straight line
Office equipment 15% straight line

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.


Re-Enhance Limited (Registered number: 07366841)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,812 67,899 2,992 72,703
Additions 98,848 - - 98,848
At 31 March 2023 100,660 67,899 2,992 171,551
DEPRECIATION
At 1 April 2022 806 62,582 2,245 65,633
Charge for year 15,099 4,453 449 20,001
At 31 March 2023 15,905 67,035 2,694 85,634
NET BOOK VALUE
At 31 March 2023 84,755 864 298 85,917
At 31 March 2022 1,006 5,317 747 7,070

Re-Enhance Limited (Registered number: 07366841)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 423,262 317,672
Other debtors 35,574 11,943
458,836 329,615

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,646 45,929
Hire purchase contracts 25,133 11,315
Trade creditors 20,860 38,097
Amounts owed to associates 356,203 200,678
Taxation and social security 31,257 37,634
Other creditors 1,080 1,465
450,179 335,118

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 28,939 12,014
Hire purchase contracts 90,319 5,658
119,258 17,672

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
199 Ordinary share 1 199 199

10. DIVIDENDS

2023(£ ) 2022(£ )
Final dividend of 437.19 (2022 - 1,373.74) per each Ordinary A Shares 87,000 136,000

Re-Enhance Limited (Registered number: 07366841)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. RELATED PARTY TRANSACTION

As at 14th March 2018 the company became a wholly owned subsidiary of Kinsella Holdings Limited.

The company is ultimately under control of the director Dr. M. Kinsella.

No other transactions with related parties were undertaken such as are required to be disclosed under
FRS 102 section 1A.

Directors' remuneration

The director's remuneration for the year was as follows:

2023 (£) 2022 (£)
Remuneration 9,096 8,844