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REGISTERED NUMBER: 02697023 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED

ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 02697023)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED

Company Information
for the year ended 31 March 2024







Director: Mr I J McKellar





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 02697023 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 02697023)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,550,000 2,550,000

Current assets
Debtors 5 32,792 4,150
Cash at bank 170,879 150,449
203,671 154,599
Creditors
Amounts falling due within one year 6 78,471 88,096
Net current assets 125,200 66,503
Total assets less current liabilities 2,675,200 2,616,503

Provisions for liabilities 7 38,722 38,722
Net assets 2,636,478 2,577,781

Capital and reserves
Called up share capital 8 10 10
Share premium 9 96,777 96,777
Revaluation reserve 9 1,850,000 1,850,000
Retained earnings 9 689,691 630,994
Shareholders' funds 2,636,478 2,577,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





Mr I J McKellar - Director


ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 02697023)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Ensign Property Management Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 02697023)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Freehold
property
£   
Cost or valuation
At 1 April 2023
and 31 March 2024 2,550,000
Net book value
At 31 March 2024 2,550,000
At 31 March 2023 2,550,000

Cost or valuation at 31 March 2024 is represented by:

Freehold
property
£   
Valuation in 2019 600,000
Valuation in 2023 1,250,000
Cost 700,000
2,550,000

During the prior year there was a revaluation undertaken where the property was appraised at £2,550,000.

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 32,792 4,150

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 548 2,939
Taxation and social security 16,674 13,283
Other creditors 61,249 71,874
78,471 88,096

7. Provisions for liabilities
2024 2023
£    £   
Deferred tax 38,722 38,722

ENSIGN PROPERTY MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 02697023)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 April 2023 38,722
Balance at 31 March 2024 38,722

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

9. Reserves
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 630,994 96,777 1,850,000 2,577,771
Profit for the year 58,697 58,697
At 31 March 2024 689,691 96,777 1,850,000 2,636,468

10. Director's advances, credits and guarantees

During the year the director operated a loan account with the company. Included in other creditors is an amount owed by the company to the director of £32,082 (2023: £32,082).

11. Related party disclosures

Included in other creditors is an amount of £Nil (2023: £10,624) owed to Denton Wharf Properties Limited, a company incorporated in England. Ian McKellar is a director of that company.