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Company registration number:02693616
ENITI LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2023
ENITI LIMITED
BALANCE SHEET
AS AT 31 May 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets32,856,0812,856,328
2,856,0812,856,328
CURRENT ASSETS
Debtors414,70314,703
Cash at bank and in hand73,32536,574
88,02851,277
CREDITORS
Amounts falling due within one year 5 (195,105) (197,044)
NET CURRENT ASSETS (107,077) (145,767)
TOTAL ASSETS LESS
CURRENT LIABILITIES 2,749,004 2,710,561
PROVISIONS FOR LIABILITIES(327,239)(248,702)
NET ASSETS 2,421,765 2,461,859
CAPITAL AND RESERVES
Called-up equity share capital 6 600 600
Revaluation Reserve1,649,5411,728,078
Profit and loss account 771,624 733,181
SHAREHOLDERS FUNDS 2,421,765 2,461,859
For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 14 December 2023 and signed on its behalf.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
..........................................................................
P M Holloway J S Ballinger
14 December 2023
The annexed notes form part of these financial statements.

ENITI LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 June 20216000723,0671,688,75602,412,423
Changes in equity
Dividend00(139,200)00(139,200)
Total Comprehensive Income00188,63600188,636
Reserves transfer0039,32239,32200
Balance at 31 May 20226000733,1811,728,07802,461,859
Changes in equity
Dividend00(128,400)00(128,400)
Total comprehensive income0088,3060088,306
Reserves transfer0078,53778,53700
Balance at 31 May 20236000771,6241,649,54102,421,765

ENITI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
1. Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, modified to include investment property at fair value. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared in sterling, which is the functional currency of the company.
Turnover
Turnover represents revenue recognised by the company in respect of rental income receivable during the year, net of Value Added Tax.
Financial assets
Investment property is carried at fair value. Revaluation surpluses are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation and impairment. Depreciation is provided at rates calculated to write off the cost of tangible fixed assets over their expected useful lives as follows: Office equipment - 33 1/3% on cost
Debtors
The Directors have made provision for bad and doubtful debts.
Financial Instruments
The company has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value using the effective interest method.
Taxation
The tax expense represents the sum of UK tax currently payable and deferred taxation.
Deferred Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Pension Scheme
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.Employees
The average number of persons employed by the company (including directors) during the year was 3.
3.Tangible fixed assets
Land/Buildings F and F Total
Cost
At start of period 2,856,000 2,787 2,858,787
At end of period 2,856,000 2,787 2,858,787
Depreciation
At start of period 0 2,459 2,459
Provided during the period 0 247 247
At end of period 0 2,706 2,706
Net Book Value
At start of period 2,856,000 328 2,856,328
At end of period 2,856,000 81 2,856,081
4.Debtors
20232022
££
Due within one year
Trade Debtors5,9105,910
Other Debtors8,4248,424
Prepayments and accrued income369369
14,70314,703
5.Creditors due within one year
20232022
££
Trade creditors25,79628,152
Corporation Tax41,32333,090
Other taxes and social security costs12,0138,136
Other creditors1,6051,605
Accruals and deferred income3,8683,400
Loan from directors110,500122,661
195,105 197,044
6. Share capital Alloted, Issued and fully paid
2023 2022
£ £
Ordinary shares of 1p (2022:£1) each600600
Total issued share capital600600
7.Pension schemes
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
8.Related Party Transactions
Dividends amounting to £128,400 were paid to the directors during the year.