Ensco 1478 Limited
Notes to the Financial Statements
For the period ended 31 December 2023
Ensco 1478 Limited is a private company limited by members capital and incorporated in England and Wales, registed number 14545836. The address of the registered office and principal place of business is Fawside Farm, Longnor, Buxton, Derbyshire, SK17 0RA.
The nature of the company's operations and principal activity is that of a holding company.
The company was incorporated on 16 December 2022. The company did not present financial statements for any previous periods as the current period is the first period of incorporation.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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