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Registration number: 03706565

Enidvale Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Enidvale Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Enidvale Holdings Limited

(Registration number: 03706565)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,867

62,028

Investment property

5

3,825,875

3,159,186

Investments

6

10

560,000

 

3,844,752

3,781,214

Current assets

 

Debtors

7

2,102,080

1,896,565

Cash at bank and in hand

 

244,596

599,355

 

2,346,676

2,495,920

Creditors: Amounts falling due within one year

8

(112,440)

(96,174)

Net current assets

 

2,234,236

2,399,746

Total assets less current liabilities

 

6,078,988

6,180,960

Provisions for liabilities

(515,002)

(458,735)

Net assets

 

5,563,986

5,722,225

Capital and reserves

 

Called up share capital

77

77

Share premium reserve

419,925

419,925

Other reserves

1,866,887

1,678,172

Retained earnings

3,277,097

3,624,051

Shareholders' funds

 

5,563,986

5,722,225

 

Enidvale Holdings Limited

(Registration number: 03706565)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 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 24 October 2024 and signed on its behalf by:
 

.........................................
W A Bird
Director

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
Littlecote Road
Froxfield
Nr Marlborough
Wiltshire
SN8 3JY

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income 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 and deferred tax.

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.

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.

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Fixtures and fittings

15% reducing balance

Plant and machinery

15% straight line

Office equipment

15% straight line

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 2 (2023 - 2).

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

91,783

3,700

2,931

47,531

145,945

Additions

-

-

6,464

-

6,464

Disposals

-

-

-

(47,531)

(47,531)

At 29 February 2024

91,783

3,700

9,395

-

104,878

Depreciation

At 1 March 2023

79,319

3,330

277

991

83,917

Charge for the year

1,871

370

844

5,817

8,902

Eliminated on disposal

-

-

-

(6,808)

(6,808)

At 29 February 2024

81,190

3,700

1,121

-

86,011

Carrying amount

At 29 February 2024

10,593

-

8,274

-

18,867

At 28 February 2023

12,464

370

2,654

46,540

62,028

Included within the net book value of tangible fixed assets is £90,000 (2023: £nil) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £nil (2023: £nil).

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Investment properties

2024
£

At 1 March

3,159,186

Additions

410,689

Fair value adjustments

256,000

At 29 February

3,825,875

The investment properties class of assets were revalued on 29 February 2024 by the directors. The basis of this valuation was fair value.

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

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,422,084 (2023: £1,075,097).

6

Investments

2024
£

2023
£

Investments in subsidiaries

10

560,000

Subsidiaries

£

Cost or valuation

At 1 March 2023

560,000

Additions

10

Disposals

(560,000)

At 29 February 2024

10

Provision

Carrying amount

At 29 February 2024

10

At 28 February 2023

560,000

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

BK Grain Group Limited

Littlecote Road,
Froxfield,
Wiltshire,
SN8 3JY

Ordinary

100%

0%

Enidvale Limited

Littlecote Road,
Froxfield,
Wiltshire,
SN8 3JY

Ordinary

100%

100%

Subsidiary undertakings

BK Grain Group Limited

The principal activity of BK Grain Group Limited is that of an investment company.

Enidvale Limited

The principal activity of Enidvale Limited is the installation of grain handling and milling equipment. The investment is held via a wholly owned subsidiary.

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

12,404

10,667

Amounts owed by related parties

10

1,386,470

1,206,561

Prepayments

 

7,703

-

Other debtors

 

695,503

679,337

   

2,102,080

1,896,565

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,100

-

Trade creditors

 

8,327

1,072

Taxation and social security

 

58,914

76,594

Other creditors

 

25,099

18,508

 

112,440

96,174

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

20,100

-

Finance lease and similar hire purchase contract liabilities are secured on the assets to which they relate.

 

Enidvale Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

W A Bird

Director loan account

503,854

13,368

(13,368)

503,854

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

W A Bird

Director loan account

503,854

10,050

(10,050)

503,854

Other transactions with directors

W A Bird (director) had a loan account with the company on which interest has been charged at the HMRC official rate. At the balance sheet date the amount due from W A Bird was £503,854 (2023: £503,854).

Income and receivables from related parties

2024

Subsidiary
£

Rental income

140,000

Management charges

105,000

245,000

Amounts receivable from related party

1,386,470

2023

Subsidiary
£

Rental income

140,000

Management charges

210,000

350,000

Amounts receivable from related party

1,206,561

11

Parent and ultimate parent undertaking

The ultimate controlling party is the directors who own 100% of the called up share capital.