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Registered number: 02316311










ENSYS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024



 
ENSYS LIMITED
REGISTERED NUMBER:02316311

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
545,659
435,590

  
545,659
435,590

Current assets
  

Stocks
  
50,932
23,710

Debtors: amounts falling due within one year
 5 
953,260
499,238

Cash at bank and in hand
 6 
680,932
736,066

  
1,685,124
1,259,014

Creditors: amounts falling due within one year
 7 
(1,359,122)
(963,848)

Net current assets
  
 
 
326,002
 
 
295,166

Total assets less current liabilities
  
871,661
730,756

Creditors: amounts falling due after more than one year
 8 
(61,464)
(95,757)

Provisions for liabilities
  

Deferred tax
 10 
(129,219)
(89,745)

  
 
 
(129,219)
 
 
(89,745)

Net assets
  
680,978
545,254


Capital and reserves
  

Called up share capital 
  
65,278
63,889

Share premium account
  
11,612
5,806

Profit and loss account
  
604,088
475,559

  
680,978
545,254


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D Cheke
Director
Date: 19 September 2024

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
ENSYS LIMITED
 
 
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Ensys Limited is a company incorporated and registered in England & Wales. The registered office and principal place of business is Unit 10 Rivermead, Thatcham, Berkshire, RG19 4EP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
 

Typically revenue from service and maintenance contracts is recognised on a straight line basis over the period of the service agreement.
Revenue from contract sales is recognised when installation has taken place and the revenue can be measured reliably and the same conditions as for the sale of goods have been met.

Page 2

 
ENSYS LIMITED
 

FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
ENSYS LIMITED
 

FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
Motor vehicles
-
25%
Fixtures & fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ENSYS LIMITED
 

FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a total direct costs and an appropriate proportion of fixed and variable overheads basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 33).

Page 5

 
ENSYS LIMITED
 
 
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 June 2023
67,948
585,228
63,120
716,296


Additions
11,193
222,041
32,691
265,925


Disposals
(8,969)
(149,577)
(19,233)
(177,779)



At 31 May 2024

70,172
657,692
76,578
804,442



Depreciation


At 1 June 2023
55,994
169,897
54,815
280,706


Charge for the year
5,002
89,949
6,509
101,460


Disposals
(8,808)
(95,391)
(19,184)
(123,383)



At 31 May 2024

52,188
164,455
42,140
258,783



Net book value



At 31 May 2024
17,984
493,237
34,438
545,659



At 31 May 2023
11,954
415,331
8,305
435,590


5.


Debtors

2024
2023
£
£


Trade debtors
795,073
425,934

Other debtors
153,126
70,961

Prepayments and accrued income
5,061
2,343

953,260
499,238



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
680,932
736,066


Page 6

 
ENSYS LIMITED
 
 
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
605,971
443,342

Corporation tax
97,903
69,030

Other taxation and social security
109,665
68,992

Obligations under finance lease and hire purchase contracts
34,293
34,293

Other creditors
15,080
8,013

Accruals and deferred income
496,210
340,178

1,359,122
963,848



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
61,464
95,757



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
34,293
34,293

Between 1-5 years
61,464
95,757

95,757
130,050


10.


Deferred taxation




2024


£






At beginning of year
(89,745)


Charged to profit or loss
(39,474)



At end of year
(129,219)

Page 7

 
ENSYS LIMITED
 
 
FOR THE YEAR ENDED 31 MAY 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(130,095)
(90,304)

Short term timing differences
876
559

(129,219)
(89,745)


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 19 September 2024 by Jonathan Baillie BA (Hons) ACA FCCA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.

Page 8