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Registered number: 11963443










ENHANCED ENGINEERING GROUP LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023
 


 
ENHANCED ENGINEERING GROUP LTD
REGISTERED NUMBER: 11963443

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
869
1,159

Investments
 5 
3,221,717
3,221,717

  
3,222,586
3,222,876

Current assets
  

Debtors: amounts falling due after more than one year
 6 
457,602
257,047

Debtors: amounts falling due within one year
 6 
9,815
21,249

Cash at bank and in hand
  
451
910

  
467,868
279,206

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(521,738)
(548,705)

Net current liabilities
  
 
 
(53,870)
 
 
(269,499)

Total assets less current liabilities
  
3,168,716
2,953,377

Creditors: amounts falling due after more than one year
 8 
(2,558,086)
(2,342,883)

  

Net assets
  
610,630
610,494


Capital and reserves
  

Called up share capital 
 10 
610,000
610,000

Profit and loss account
  
630
494

  
610,630
610,494


Page 1

 
ENHANCED ENGINEERING GROUP LTD
REGISTERED NUMBER: 11963443

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K Davis
Director

Date: 3 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Enhanced Engineering Group Ltd is a private company limited by shares, incorporated in England and Wales. Its registered office is 10 Doman Road, Yorktown Industrial Estate, Camberley, Surrey, GU15 3DF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

  
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and laibilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3)

Page 4

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
1,541



At 31 December 2023

1,541



Depreciation


At 1 January 2023
382


Charge for the year on owned assets
290



At 31 December 2023

672



Net book value



At 31 December 2023
869



At 31 December 2022
1,159


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
3,221,717



At 31 December 2023
3,221,717




Page 5

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Engineering & Developments Ltd
Ordinary
100%
Fox-VPS Ltd
Ordinary
100%
Broomco Limited
Ordinary
100%
Hydraulic Actuators & Controls Limited
Ordinary
100%
Precision Aluminium Casting & Engineering Ltd
Ordinary
100%
W H Rowe Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Engineering & Developments Ltd
400,679
(72,363)

Fox-VPS Ltd
2,313,667
139,722

Broomco Limited
2
-

Hydraulic Actuators & Controls Limited
2
-

Precision Aluminium Casting & Engineering Ltd
485,424
(174,833)

W H Rowe Limited
1
-

W H Rowe Ltd was dissolved on 27 February 2024.

Page 6

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
457,602
257,047


2023
2022
£
£

Due within one year

Trade debtors
-
10

Prepayments and accrued income
9,647
21,207

Deferred taxation
168
32

9,815
21,249



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
390,668
406,462

Other loans
96,845
116,866

Trade creditors
1,260
-

Other taxation and social security
27,274
22,820

Other creditors
689
158

Accruals and deferred income
5,002
2,399

521,738
548,705



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
578,553
684,626

Other loans
123,333
129,500

Amounts owed to group undertakings
1,856,200
1,528,757

2,558,086
2,342,883


Page 7

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
390,668
406,462

Other loans
96,845
116,866


487,513
523,328

Amounts falling due 1-2 years

Bank loans
381,332
361,565

Other loans
123,333
129,500


504,665
491,065

Amounts falling due 2-5 years

Bank loans
197,221
323,061


197,221
323,061

1,189,399
1,337,454


The bank loan has a fixed and floating charge over all present and future assets of the Company. The loans are interest bearing and are repayable over the agreed terms. 

Page 8

 
ENHANCED ENGINEERING GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



610,000 (2022 - 610,000) Ordinary shares of £1.00 each
610,000
610,000



11.


Related party transactions

The directors have taken advange of the provisions of FRS 102 section 33.1A by not disclosing intercompany transactions and balances with other group companies.


12.


Controlling party

In the opinion of the directors, Enhanced Engineering Group Ltd is not controlled by any one person.


Page 9