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ENSCO 367 LIMITED

Registered Number
SC406846
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2023

ENSCO 367 LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

KEANE, Robert Antony

Registered Address

19 Adelphi Adelphi Business Centre
Aberdeen
AB11 5BL

Registered Number

SC406846 (Scotland)
ENSCO 367 LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid22
Fixed assets
Tangible assets360,10167,350
Investments525,003125,068
Investment property4926,485926,485
1,011,5891,118,903
Current assets
Stocks62,9992,999
Debtors7,226,2126,003,881
Cash at bank and on hand21210,418
7,229,4236,017,298
Creditors amounts falling due within one year7(116,669)(121,862)
Net current assets (liabilities)7,112,7565,895,438
Total assets less current liabilities8,124,3457,014,341
Creditors amounts falling due after one year8(3,689,362)(2,587,247)
Net assets4,434,9834,427,094
Capital and reserves
Called up share capital22
Profit and loss account4,434,9814,427,092
Shareholders' funds4,434,9834,427,094
The financial statements were approved and authorised for issue by the Director on 31 July 2024, and are signed on its behalf by:
KEANE, Robert Antony
Director
Registered Company No. SC406846
ENSCO 367 LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 November 2268,01710,63878,655
Additions-1,2401,240
At 31 October 2368,01711,87879,895
Depreciation and impairment
At 01 November 223,4727,83311,305
Charge for year6,8011,6888,489
At 31 October 2310,2739,52119,794
Net book value
At 31 October 2357,7442,35760,101
At 31 October 2264,5452,80567,350
4.Investment property

£
Fair value at 01 November 22926,485
At 31 October 23926,485
5.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 November 2225,003100,065125,068
Disposals-(100,065)(100,065)
At 31 October 2325,003-25,003
Net book value
At 31 October 2325,003-25,003
At 31 October 2225,003100,065125,068

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
6.Stocks

2023

2022

££
Work in progress2,9992,999
Total2,9992,999
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables22,71328,660
Taxation and social security20,83411,199
Other creditors11,1339,040
Accrued liabilities and deferred income61,98972,963
Total116,669121,862
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts40,70445,219
Other creditors3,648,6582,542,028
Total3,689,3622,587,247