12 01/12/2022 30/11/2023 2023-11-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-12-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 08095407 2022-12-01 2023-11-30 08095407 2023-11-30 08095407 2022-11-30 08095407 2021-12-01 2022-11-30 08095407 2022-11-30 08095407 2021-11-30 08095407 bus:RegisteredOffice 2022-12-01 2023-11-30 08095407 bus:LeadAgentIfApplicable 2022-12-01 2023-11-30 08095407 bus:Director1 2022-12-01 2023-11-30 08095407 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 08095407 core:PlantMachinery 2022-11-30 08095407 core:FurnitureFittingsToolsEquipment 2022-11-30 08095407 core:MotorVehicles 2022-11-30 08095407 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 08095407 core:PlantMachinery 2023-11-30 08095407 core:FurnitureFittingsToolsEquipment 2023-11-30 08095407 core:MotorVehicles 2023-11-30 08095407 core:WithinOneYear 2023-11-30 08095407 core:WithinOneYear 2022-11-30 08095407 core:AfterOneYear 2023-11-30 08095407 core:AfterOneYear 2022-11-30 08095407 core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 08095407 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 08095407 core:PlantMachinery 2022-12-01 2023-11-30 08095407 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 08095407 core:MotorVehicles 2022-12-01 2023-11-30 08095407 core:ShareCapital 2023-11-30 08095407 core:ShareCapital 2022-11-30 08095407 core:RetainedEarningsAccumulatedLosses 2023-11-30 08095407 core:RetainedEarningsAccumulatedLosses 2022-11-30 08095407 core:ShareCapital 2021-11-30 08095407 core:RetainedEarningsAccumulatedLosses 2021-11-30 08095407 core:PreviouslyStatedAmount core:ShareCapital 2023-11-30 08095407 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 08095407 core:PlantMachinery 2022-11-30 08095407 core:FurnitureFittingsToolsEquipment 2022-11-30 08095407 core:MotorVehicles 2022-11-30 08095407 bus:SmallEntities 2022-12-01 2023-11-30 08095407 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 08095407 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08095407 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08095407 bus:FullAccounts 2022-12-01 2023-11-30
Company registration number: 08095407
Enagh Construction Ltd
Unaudited filleted financial statements
30 November 2023
Enagh Construction Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Enagh Construction Ltd
Directors and other information
Directors Mr Conor Davidson
Company number 08095407
Registered office Ashcroft Cameron Unit 6
The Meade Business Centre
Mead Lane
Hertford
SG13 7BJ
Accountants Business Account Services
11 Abbey Street
Armagh
BT61 7DX
Enagh Construction Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Enagh Construction Ltd
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Enagh Construction Ltd for the year ended 30 November 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.
Business Account Services
11 Abbey Street
Armagh
BT61 7DX
21 November 2024
Enagh Construction Ltd
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 404,375 326,769
_______ _______
404,375 326,769
Current assets
Debtors 6 1,499,618 1,511,794
Cash at bank and in hand 1,634,845 1,157,770
_______ _______
3,134,463 2,669,564
Creditors: amounts falling due
within one year 7 ( 2,041,507) ( 1,681,414)
_______ _______
Net current assets 1,092,956 988,150
_______ _______
Total assets less current liabilities 1,497,331 1,314,919
Creditors: amounts falling due
after more than one year 8 ( 121,962) ( 139,376)
_______ _______
Net assets 1,375,369 1,175,543
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,375,368 1,175,542
_______ _______
Shareholders funds 1,375,369 1,175,543
_______ _______
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 November 2024 , and are signed on behalf of the board by:
Mr Conor Davidson
Director
Company registration number: 08095407
Enagh Construction Ltd
Statement of changes in equity
Year ended 30 November 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2021 1 891,485 891,486
Profit for the year 284,057 284,057
_______ _______ _______
Total comprehensive income for the year - 284,057 284,057
_______ _______ _______
At 30 November 2022 and 1 December 2022 1 1,175,542 1,175,543
Profit for the year 199,826 199,826
_______ _______ _______
Total comprehensive income for the year - 199,826 199,826
_______ _______ _______
At 30 November 2023 1 1,375,368 1,375,369
_______ _______ _______
Enagh Construction Ltd
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is Ashcroft Cameron Unit 6, The Meade Business Centre, Mead Lane, Hertford, SG13 7BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 12 (2022: 10 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 204,657 152,949
Social security costs 13,725 9,558
Other pension costs 5,740 4,125
_______ _______
224,122 166,632
_______ _______
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 December 2022 196,000 79,400 45,643 92,286 413,329
Additions - 8,350 - 134,327 142,677
Disposals - - - ( 74,996) ( 74,996)
_______ _______ _______ _______ _______
At 30 November 2023 196,000 87,750 45,643 151,617 481,010
_______ _______ _______ _______ _______
Depreciation
At 1 December 2022 - 29,402 10,225 46,931 86,558
Charge for the year - 5,161 917 28,277 34,355
Disposals - - - ( 44,278) ( 44,278)
_______ _______ _______ _______ _______
At 30 November 2023 - 34,563 11,142 30,930 76,635
_______ _______ _______ _______ _______
Carrying amount
At 30 November 2023 196,000 53,187 34,501 120,687 404,375
_______ _______ _______ _______ _______
At 30 November 2022 196,000 49,998 35,418 45,355 326,771
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 118,594 217,046
Other debtors 1,381,024 1,294,748
_______ _______
1,499,618 1,511,794
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 13,818 15,860
Trade creditors 8,400 31,111
Corporation tax 53,191 116,471
Social security and other taxes 1,937,098 1,496,972
Other creditors 29,000 21,000
_______ _______
2,041,507 1,681,414
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 121,962 139,376
_______ _______
9. Directors advances, credits and guarantees