Company registration number 07744966 (England and Wales)
ENHANCED AUTOMOTIVE SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
ENHANCED AUTOMOTIVE SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ENHANCED AUTOMOTIVE SYSTEMS LIMITED (REGISTERED NUMBER: 07744966)
BALANCE SHEET
AS AT 31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
977
2,413
Investments
4
150,000
225,000
150,977
227,413
Current assets
Debtors
5
3,126
3,005
Cash at bank and in hand
32,017
40,440
35,143
43,445
Creditors: amounts falling due within one year
6
(1,746)
(11,404)
Net current assets
33,397
32,041
Total assets less current liabilities
184,374
259,454
Provisions for liabilities
(643)
(458)
Net assets
183,731
258,996
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
183,631
258,896
Total equity
183,731
258,996
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
ENHANCED AUTOMOTIVE SYSTEMS LIMITED (REGISTERED NUMBER: 07744966)
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023
31 August 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 February 2024
E C Penfold
Director
ENHANCED AUTOMOTIVE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information
Enhanced Automotive Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fairview House, Maltmans Hill, Smarden, Ashford, TN27 8RF.
1.1
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. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 33% on cost
Computer equipment
- 25% on reducing balance
Motor vehicles
- 20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Investments in non-current financial assets 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.
ENHANCED AUTOMOTIVE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2022
4,881
5,811
34,137
44,829
Additions
220
266
486
At 31 August 2023
5,101
6,077
34,137
45,315
Depreciation and impairment
At 1 September 2022
4,880
5,004
32,532
42,416
Depreciation charged in the year
54
263
1,605
1,922
At 31 August 2023
4,934
5,267
34,137
44,338
Carrying amount
At 31 August 2023
167
810
977
At 31 August 2022
1
807
1,605
2,413
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
150,000
225,000
ENHANCED AUTOMOTIVE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 September 2022
225,000
Disposals
(75,000)
At 31 August 2023
150,000
Carrying amount
At 31 August 2023
150,000
At 31 August 2022
225,000
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,126
3,005
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
9,743
Other creditors
1,746
1,661
1,746
11,404
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100