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Registered number: 04741856
Enigma Developments Ltd.
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04741856
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,325 3,800
Tangible Assets 5 12,934 17,044
16,259 20,844
CURRENT ASSETS
Stocks 6 2,044 2,044
Debtors 7 - 696
Cash at bank and in hand 1,677 2,088
3,721 4,828
Creditors: Amounts Falling Due Within One Year 8 (18,044 ) (24,203 )
NET CURRENT ASSETS (LIABILITIES) (14,323 ) (19,375 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,936 1,469
NET ASSETS 1,936 1,469
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,934 1,467
SHAREHOLDERS' FUNDS 1,936 1,469
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For the year ending 30 November 2023 the company was entitled to exemption from audit 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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Stapleton
Director
24 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Enigma Developments Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04741856 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing balance
Computer Equipment 20% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 9,500
As at 30 November 2023 9,500
...CONTINUED
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Amortisation
As at 1 December 2022 5,700
Provided during the period 475
As at 30 November 2023 6,175
Net Book Value
As at 30 November 2023 3,325
As at 1 December 2022 3,800
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 33,210 13,226 46,436
As at 30 November 2023 33,210 13,226 46,436
Depreciation
As at 1 December 2022 19,199 10,193 29,392
Provided during the period 3,503 607 4,110
As at 30 November 2023 22,702 10,800 33,502
Net Book Value
As at 30 November 2023 10,508 2,426 12,934
As at 1 December 2022 14,011 3,033 17,044
6. Stocks
2023 2022
£ £
Stock 2,044 2,044
7. Debtors
2023 2022
£ £
Due within one year
VAT - 696
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
VAT 149 -
Accruals and deferred income 1,860 1,860
Directors' loan accounts 11,794 16,526
Amounts owed to group undertakings 4,241 5,817
18,044 24,203
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
At the balance sheet date, the company owed the directors £11,794 (2022:£16,526). This amount is unsecured, interest free, with no fixed repayment date. 
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