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Registration number: 11361431

Enkomi Resources Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Enkomi Resources Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 6

 

Enkomi Resources Limited

Company Information

Directors

Mr T H Abraham-James

Mr P Muwowo

Registered office

Unit 12
Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

Enkomi Resources Limited

(Registration number: 11361431)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

33

33

Current assets

 

Debtors

5

11,204

12,266

Creditors: Amounts falling due within one year

6

(10,157)

(9,610)

Net current assets

 

1,047

2,656

Net assets

 

1,080

2,689

Capital and reserves

 

Called up share capital

7

30,000

30,000

Retained earnings

(28,920)

(27,311)

Shareholders' funds

 

1,080

2,689

For the financial year ending 31 December 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 4 October 2024 and signed on its behalf by:
 

.........................................
Mr T H Abraham-James
Director

 

Enkomi Resources Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

30,000

(27,312)

2,688

Loss for the year

-

(1,608)

(1,608)

At 31 December 2023

30,000

(28,920)

1,080

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

30,000

(25,969)

4,031

Loss for the year

-

(1,342)

(1,342)

At 31 December 2022

30,000

(27,311)

2,689

 

Enkomi Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

Enkomi Resources Limited is a private company, limited by shares, incorporated in England & Wales. The address of the registered office is given in the company information on page 1 of these financial statements.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Foreign currency transactions and balances

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Investments

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.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Enkomi Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

33

33

Subsidiaries

£

Cost or valuation

At 1 January 2023

33

Provision

Carrying amount

At 31 December 2023

33

At 31 December 2022

33

Details of undertakings

The company owns 98% of the issued share capital of Enkomi (TZ) Limited, a company incorporated in Tanzania.

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

8

11,204

12,266

 

11,204

12,266

 

Enkomi Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

1,800

Accruals and deferred income

1,062

990

Other creditors

9,095

6,820

10,157

9,610

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.001 each

30,000,000

30,000

30,000,000

30,000

         

8

Related party transactions

Included in debtors is £11,203 (2022 - £12,266) owed to the company by its subsidiary, Enkomi Resources (TZ) Limited.This balance is unsecured, interest free and has no fixed repayment terms.