ENKAE PRESTIGE MOTORS LTD

Company Registration Number:
09951828 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2024

Period of accounts

Start date: 31 January 2023

End date: 30 January 2024

ENKAE PRESTIGE MOTORS LTD

Contents of the Financial Statements

for the Period Ended 30 January 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ENKAE PRESTIGE MOTORS LTD

Company Information

for the Period Ended 30 January 2024




Registered office: 537
Blackmoorfoot Road
Huddersfield
GBR
HD4 5NT
Company Registration Number: 09951828 (England and Wales)

ENKAE PRESTIGE MOTORS LTD

Balance sheet

As at 30 January 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 7,200 10,800
Tangible assets: 5 1,029,139 1,047,234
Total fixed assets: 1,036,339 1,058,034
Current assets
Stocks: 3,581,652 4,844,575
Debtors: 6 53,612 16,612
Cash at bank and in hand: 408,357 321,218
Total current assets: 4,043,621 5,182,405
Creditors: amounts falling due within one year: 7 ( 1,931,251 ) ( 1,029,234 )
Net current assets (liabilities): 2,112,370 4,153,171
Total assets less current liabilities: 3,148,709 5,211,205
Creditors: amounts falling due after more than one year: 8 ( 2,569,448 ) ( 4,118,089 )
Total net assets (liabilities): 579,261 1,093,116

The notes form part of these financial statements

ENKAE PRESTIGE MOTORS LTD

Balance sheet continued

As at 30 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 579,161 1,093,016
Shareholders funds: 579,261 1,093,116

For the year ending 30 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 29 October 2024
And Signed On Behalf Of The Board By:

Name: Khalid Ahmad
Status: Director

The notes form part of these financial statements

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

    Intangible fixed assets amortisation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
    Freehold buildings over 50 years
    Leasehold land and buildings over the lease term
    Plant and machinery over 5 years
    Fixtures, fittings, tools and equipment over 5 years

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 20 21

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 3. Off balance sheet disclosure

    No

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

4. Intangible assets

Other Total
Cost £ £
At 31 January 2023 18,000 18,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 January 2024 18,000 18,000
Amortisation
Amortisation at 31 January 2023 7,200 7,200
Charge for year 3,600 3,600
On disposals - -
Other adjustments - -
Amortisation at 30 January 2024 10,800 10,800
Net book value
Net book value at 30 January 2024 7,200 7,200
Net book value at 30 January 2023 10,800 10,800

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

5. Tangible assets

Land & buildings Fixtures & fittings Total
Cost £ £ £
At 31 January 2023 976,769 114,420 1,091,189
Additions - 2,607 2,607
Disposals - - -
Revaluations - - -
Transfers - - -
At 30 January 2024 976,769 117,027 1,093,796
Depreciation
At 31 January 2023 - 43,955 43,955
Charge for year - 20,702 20,702
On disposals - - -
Other adjustments - - -
At 30 January 2024 - 64,657 64,657
Net book value
At 30 January 2024 976,769 52,370 1,029,139
At 30 January 2023 976,769 70,465 1,047,234

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment over 5 years

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

6. Debtors


2024
£

2023
£
Trade debtors 33,612 16,612
Prepayments and accrued income 20,000
Total 53,612 16,612

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Trade creditors 1,766,070 709,208
Taxation and social security 25,628 99,738
Accruals and deferred income 30,400
Other creditors 109,153 220,288
Total 1,931,251 1,029,234

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

ENKAE PRESTIGE MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

8.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 1,182,699 1,294,009
Other creditors 1,386,749 2,824,080
Total 2,569,448 4,118,089