Company Registration No. 11020831 (England and Wales)
ENGAGED RESOURCE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ENGAGED RESOURCE LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
ENGAGED RESOURCE LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
190,479
174,712
Current assets
Debtors
135,100
155,392
Cash at bank and in hand
10,405
3,314
145,505
158,706
Creditors: amounts falling due within one year
(92,318)
(107,585)
Net current assets
53,187
51,121
Total assets less current liabilities
243,666
225,833
Creditors: amounts falling due after more than one year
(177,517)
(166,081)
Net assets
66,149
59,752
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
65,949
59,552
Total equity
66,149
59,752

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

ENGAGED RESOURCE LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 4 July 2024
Mr M Hudson
Director
Company registration number 11020831 (England and Wales)
ENGAGED RESOURCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Engaged Resource Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 43, The Cobalt Building, 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

ENGAGED RESOURCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
5
ENGAGED RESOURCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
11,494
198,109
209,603
Additions
1,903
138,980
140,883
Disposals
-
0
(128,445)
(128,445)
At 30 April 2024
13,397
208,644
222,041
Depreciation and impairment
At 1 May 2023
6,335
28,556
34,891
Depreciation charged in the year
1,547
34,407
35,954
Eliminated in respect of disposals
-
0
(39,283)
(39,283)
At 30 April 2024
7,882
23,680
31,562
Carrying amount
At 30 April 2024
5,515
184,964
190,479
At 30 April 2023
5,159
169,553
174,712
5
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr M Hudson -
6,307
45,365
(51,672)
-
6,307
45,365
(51,672)
-
2024-04-302023-05-01falseCCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr M Hudsonfalsefalse110208312023-05-012024-04-30110208312024-04-30110208312023-04-3011020831core:ComputerEquipment2024-04-3011020831core:MotorVehicles2024-04-3011020831core:ComputerEquipment2023-04-3011020831core:MotorVehicles2023-04-3011020831core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3011020831core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3011020831core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3011020831core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3011020831core:ShareCapital2024-04-3011020831core:ShareCapital2023-04-3011020831core:RetainedEarningsAccumulatedLosses2024-04-3011020831core:RetainedEarningsAccumulatedLosses2023-04-3011020831bus:Director12023-05-012024-04-3011020831core:ComputerEquipment2023-05-012024-04-3011020831core:MotorVehicles2023-05-012024-04-3011020831core:IncreaseDecreaseDueToTransitionFromPreviousStandard2023-05-012024-04-30110208312022-05-012023-04-3011020831core:ComputerEquipment2023-04-3011020831core:MotorVehicles2023-04-30110208312023-04-3011020831bus:PrivateLimitedCompanyLtd2023-05-012024-04-3011020831bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3011020831bus:FRS1022023-05-012024-04-3011020831bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3011020831bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP