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Enborne Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Enborne Systems Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Enborne Systems Limited

(Registration number: 00720661)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

925,000

925,000

Other financial assets

5

163,499

40,000

 

1,088,499

965,000

Current assets

 

Debtors

6

352,011

-

Investments

7

100,000

272,000

Cash at bank and in hand

 

43,639

348,878

 

495,650

620,878

Creditors: Amounts falling due within one year

8

(9,156)

(31,099)

Net current assets

 

486,494

589,779

Net assets

 

1,574,993

1,554,779

Capital and reserves

 

Called up share capital

4,000

4,000

Other reserves

777,676

777,676

Retained earnings

793,317

773,103

Shareholders' funds

 

1,574,993

1,554,779

 

Enborne Systems Limited

(Registration number: 00720661)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 July 2024 and signed on its behalf by:
 

.........................................
Mrs CD Marriage
Company secretary and director

 

Enborne Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Furze Place Sheepwash Lane
Burghclere
Newbury
Berkshire
RG20 9EA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Enborne Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 April

925,000

At 31 March

925,000

There has been no valuation of investment property by an independent valuer.

 

Enborne Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

40,000

40,000

Additions

223,499

223,499

Transfer

(100,000)

(100,000)

At 31 March 2024

163,499

163,499

Impairment

Carrying amount

At 31 March 2024

163,499

163,499

6

Debtors

2024
£

2023
£

Other debtors

352,011

-

352,011

-

Details of non-current trade and other debtors

£350,000 (2023 -£Nil) of Loan is classified as non current.

7

Current asset investments

2024
£

2023
£

Other investments

100,000

272,000

 

Enborne Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

1,176

Taxation and social security

7,087

28,462

Other creditors

2,069

1,461

9,156

31,099

9

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Mr T H Marriage

received loans from the company.

1,457

(1,457)

-

Mrs CD Marriage

received loans from the company.

285

(493)

(208)

Mr O J Marriage

received loans from the company.

1,457

(1,457)

-

Mrs H C Ratazzi

received loans from the company.

1,457

(1,457)

-