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Registration number: 09767622

Enigma Home and Garden Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Enigma Home and Garden Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Enigma Home and Garden Ltd

Company Information

Directors

Mr R Strowger

Mr J Strowger

Registered office

Tiptree
Lafrowda Close
St Just
Penzance
Cornwall
TR19 7HZ

Accountants

D.J. Reynolds & Co
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Enigma Home and Garden Ltd

(Registration number: 09767622)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,979

8,569

Current assets

 

Stocks

5

194,087

304,349

Debtors

6

457,752

449,431

Cash at bank and in hand

 

158,817

3,341

 

810,656

757,121

Creditors: Amounts falling due within one year

7

(933,658)

(571,212)

Net current (liabilities)/assets

 

(123,002)

185,909

Total assets less current liabilities

 

(110,023)

194,478

Creditors: Amounts falling due after more than one year

7

(21,507)

(31,543)

Provisions for liabilities

-

(1,628)

Net (liabilities)/assets

 

(131,530)

161,307

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(131,630)

161,207

Shareholders' (deficit)/funds

 

(131,530)

161,307

For the financial year ending 30 September 2023 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 26 September 2024 and signed on its behalf by:
 

.........................................
Mr J Strowger
Director

   
     
 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
Tiptree
Lafrowda Close
St Just
Penzance
Cornwall
TR19 7HZ

These financial statements were authorised for issue by the Board on 26 September 2024.

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

In the opinion of the Directors, the company can continue to operate on a going concern basis. This is due to the Directors agreeing to continue to provide financial support for the company.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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.

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

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.

Trade debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

25,590

3,350

28,940

Additions

6,695

2,457

9,152

At 30 September 2023

32,285

5,807

38,092

Depreciation

At 1 October 2022

18,314

2,057

20,371

Charge for the year

3,494

1,248

4,742

At 30 September 2023

21,808

3,305

25,113

Carrying amount

At 30 September 2023

10,477

2,502

12,979

At 30 September 2022

7,276

1,293

8,569

5

Stocks

2023
£

2022
£

Goods for resale

194,087

304,349

6

Debtors

Current

2023
£

2022
£

Trade debtors

457,752

449,431

 

457,752

449,431

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

10,161

41,965

Trade creditors

 

516,002

116,493

Taxation and social security

 

52,134

74,011

Accruals and deferred income

 

7,895

8,250

Other creditors

 

347,466

330,493

 

933,658

571,212

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

21,507

31,543

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,507

31,543

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,161

10,125

Bank overdrafts

-

31,840

10,161

41,965

10

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr R Strowger

Transactions with director

(219,782)

11,586

(17,134)

(225,330)

-

-

-

-

 

(219,782)

11,586

(17,134)

(225,330)

       

Mr J Strowger

Transactions with director

(58,112)

-

(26,123)

(84,235)

-

-

-

-

 

(58,112)

-

(26,123)

(84,235)

       

 

2022

At 1 October 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

Mr R Strowger

Transactions with director

(201,867)

1,591

(19,506)

(219,782)

-

-

-

-

 

(201,867)

1,591

(19,506)

(219,782)

       

Mr J Strowger

Transactions with director

(47,499)

10,454

(21,067)

(58,112)

-

-

-

-

 

(47,499)

10,454

(21,067)

(58,112)

       

 

Enigma Home and Garden Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

 

Summary of transactions with entities with joint control or significant interest

Enigma Imports (UK) Ltd
(A company under the control of Mr J Strowger and Mr R Strowger.)
During the year there were transactions into and out of some bank accounts held by Enigma Imports (UK) Ltd which were on the behalf of Enigma Home and Garden Ltd. Funds were also transferred between accounts held by the two companies.
At the balance sheet date the amount due to Enigma Imports (UK) Ltd from Enigma Home and Garden Ltd was £26,458. (2022 - £50,975.)