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REGISTERED NUMBER: SC496383 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ENSCO 2002 LIMITED

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ENSCO 2002 LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: I A L Reid
L Reid
J Reid





REGISTERED OFFICE: 97 Lothian Road
Edinburgh
Lothian
EH3 9AN





REGISTERED NUMBER: SC496383 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,247 2,997
Investments 5 190,950 190,950
Investment property 6 631,377 350,000
824,574 543,947

CURRENT ASSETS
Debtors 7 10,533 206,069
Cash at bank and in hand 118,568 80,256
129,101 286,325
CREDITORS
Amounts falling due within one year 8 450,394 352,111
NET CURRENT LIABILITIES (321,293 ) (65,786 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,281

478,161

CREDITORS
Amounts falling due after more than one
year

9

(202,483

)

(202,483

)

PROVISIONS FOR LIABILITIES 11 (6,265 ) (8,430 )
NET ASSETS 294,533 267,248

CAPITAL AND RESERVES
Called up share capital 1 1
Non distributable reserve 28,048 26,205
Retained earnings 266,484 241,042
SHAREHOLDERS' FUNDS 294,533 267,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

BALANCE SHEET - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





I A L Reid - Director


ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

ENSCO 2002 Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

As at 31 March 2024, the company had net current liabilities of £321,293 (2023 - £65,786). The company relies on the continued support of the associate company to finance its short term working capital requirements.

TURNOVER
Turnover is measured at the fair value of the rent received or receivable in relation to the letting of property.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% per annum reducing balance

Tangible fixed assets are initially recognised at cost and reviewed for impairment on an annual basis.

INVESTMENTS IN ASSOCIATES
Investments in associated undertakings are recognised at cost less impairment, if any.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 14,464
DEPRECIATION
At 1 April 2023 11,467
Charge for year 750
At 31 March 2024 12,217
NET BOOK VALUE
At 31 March 2024 2,247
At 31 March 2023 2,997

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 190,950
NET BOOK VALUE
At 31 March 2024 190,950
At 31 March 2023 190,950

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 350,000
Additions 281,377
At 31 March 2024 631,377
NET BOOK VALUE
At 31 March 2024 631,377
At 31 March 2023 350,000

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 33,886
Cost 597,491
631,377

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 597,491 316,114

Investment property was valued on an open market basis on 31 March 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,533 206,069

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 42 120
Taxation and social security 6,059 6,566
Other creditors 444,293 345,425
450,394 352,111

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 202,483 202,483

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 202,483 202,483

ENSCO 2002 LIMITED (REGISTERED NUMBER: SC496383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 202,483 202,483

Shawbrook Bank Limited hold a charge which covers the investment property owned by the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,265 8,430

Deferred
tax
£   
Balance at 1 April 2023 8,430
Credit to Income Statement during year (2,165 )
Balance at 31 March 2024 6,265

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in "Other creditors" is a balance of £439,994 (2023 - £341,914) due to non-wholly owned subsidiaries.

13. ULTIMATE CONTROLLING PARTY

The ultimate parent company is ENSCO 2000 Limited whose registered office is at 97 Lothian Road, Midlothian, EH3 9AN