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COMPANY REGISTRATION NUMBER: 5603015
ENACTOR LIMITED
Unaudited Financial Statements
31 December 2023
ENACTOR LIMITED
Financial Statements
Year ended 31 December 2023
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
10
ENACTOR LIMITED
Director's Report
Year ended 31 December 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Director
The director who served the company during the year was as follows:
M.E. CARRELL
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 5 August 2024 and signed on behalf of the board by:
M.E. CARRELL
Director
ENACTOR LIMITED
Statement of Income and Retained Earnings
Year ended 31 December 2023
2023
2022
Note
£
£
Turnover
9,965,573
9,679,873
Cost of sales
2,125,254
2,070,210
------------
------------
Gross profit
7,840,319
7,609,663
Administrative expenses
6,696,539
5,003,079
------------
------------
Operating profit
1,143,780
2,606,584
Other interest receivable and similar income
52,720
929
------------
------------
Profit before taxation
5
1,196,500
2,607,513
Tax on profit
39,028
411,852
------------
------------
Profit for the financial year and total comprehensive income
1,157,472
2,195,661
------------
------------
Retained earnings at the start of the year
9,202,929
7,007,268
-------------
------------
Retained earnings at the end of the year
10,360,401
9,202,929
-------------
------------
All the activities of the company are from continuing operations.
ENACTOR LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
261,151
227,631
Current assets
Debtors
7
3,703,469
2,393,238
Cash at bank and in hand
11,600,319
10,576,352
-------------
-------------
15,303,788
12,969,590
Creditors: amounts falling due within one year
8
5,203,287
3,993,041
-------------
-------------
Net current assets
10,100,501
8,976,549
-------------
------------
Total assets less current liabilities
10,361,652
9,204,180
-------------
------------
Net assets
10,361,652
9,204,180
-------------
------------
Capital and reserves
Called up share capital
1,251
1,251
Profit and loss account
10,360,401
9,202,929
-------------
------------
Shareholders funds
10,361,652
9,204,180
-------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024 , and are signed on behalf of the board by:
M.E. CARRELL
Director
Company registration number: 5603015
ENACTOR LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Enactor House, 1 Bluecoats Avenue, Hertford, SG14 1PB, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to Rented Property
-
10% straight line
Computer Equipment
-
25% straight line
Furniture & Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2022: 35 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
87,049
86,346
--------
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
189,593
427,991
367,828
985,412
Additions
104,553
16,016
120,569
---------
---------
---------
------------
At 31 December 2023
189,593
532,544
383,844
1,105,981
---------
---------
---------
------------
Depreciation
At 1 January 2023
189,592
308,382
259,807
757,781
Charge for the year
56,040
31,009
87,049
---------
---------
---------
------------
At 31 December 2023
189,592
364,422
290,816
844,830
---------
---------
---------
------------
Carrying amount
At 31 December 2023
1
168,122
93,028
261,151
---------
---------
---------
------------
At 31 December 2022
1
119,609
108,021
227,631
---------
---------
---------
------------
7. Debtors
2023
2022
£
£
Trade debtors
2,718,755
1,758,241
Other debtors
984,714
634,997
------------
------------
3,703,469
2,393,238
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,397,772
1,977,071
Corporation tax
276,159
493,586
Social security and other taxes
235,308
199,643
Other creditors
2,294,048
1,322,741
------------
------------
5,203,287
3,993,041
------------
------------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M.E. CARRELL
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M.E. CARRELL
( 1,877)
1,877
-------
-------
----
10. Related party transactions
The company was under the control of Mr M.E. Carrell throughout the year. Mr Carrell is the managing director and majority shareholder. Related Party balances and transactions 2023 2022 £ £ Entities over which the entity has control, joint control or influence Purchases 1,352,500 1,158,333 Debtors 0 117,075
ENACTOR LIMITED
Management Information
Year ended 31 December 2023
The following pages do not form part of the financial statements.
ENACTOR LIMITED
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of ENACTOR LIMITED
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ENACTOR LIMITED for the year ended 31 December 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of ENACTOR LIMITED in accordance with the terms of our engagement letter dated 31 January 2006. Our work has been undertaken solely to prepare for your approval the financial statements of ENACTOR LIMITED and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ENACTOR LIMITED and its director for our work or for this report.
It is your duty to ensure that ENACTOR LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ENACTOR LIMITED. You consider that ENACTOR LIMITED is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of ENACTOR LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
JULIAN ELLIS Chartered accountants
15A Bull Plain Hertford Herts SG14 1DX
5 August 2024