Company registration number 06970654 (England and Wales)
ENCO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ENCO LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
ENCO LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
745,180
822,860
Current assets
Stocks
39,543
40,350
Debtors
4
921,630
862,379
Cash at bank and in hand
30,701
415,071
991,874
1,317,800
Creditors: amounts falling due within one year
5
(628,532)
(946,446)
Net current assets
363,342
371,354
Total assets less current liabilities
1,108,522
1,194,214
Creditors: amounts falling due after more than one year
6
(398,103)
(386,683)
Provisions for liabilities
7
(54,944)
(73,249)
Net assets
655,475
734,282
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
655,375
734,182
Total equity
655,475
734,282
ENCO LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 February 2025 and are signed on its behalf by:
J Hart
Director
Company registration number 06970654 (England and Wales)
Enco Limited
ENCO LIMITED
Notes to the financial statements
for the year ended 31 July 2024
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised upon the provision of services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Enco Limited
ENCO LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 July 2024
1
Accounting policies
(Continued)
- 4 -
Leases

Assets obtained under hire purchase contracts are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis over the period of the agreement.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
24
24
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
463,877
249,636
317,761
1,031,274
Additions
-
0
73,846
54,996
128,842
Disposals
-
0
-
0
(223,762)
(223,762)
At 31 July 2024
463,877
323,482
148,995
936,354
Depreciation and impairment
At 1 August 2023
-
0
76,173
132,241
208,414
Depreciation charged in the year
-
0
37,600
37,993
75,593
Eliminated in respect of disposals
-
0
-
0
(92,833)
(92,833)
At 31 July 2024
-
0
113,773
77,401
191,174
Carrying amount
At 31 July 2024
463,877
209,709
71,594
745,180
At 31 July 2023
463,877
173,463
185,520
822,860
Enco Limited
ENCO LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 July 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
838,885
752,495
Other debtors
60,328
93,274
Prepayments and accrued income
22,417
16,610
921,630
862,379
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
90,340
220,402
Obligations under hire purchase contracts
29,027
28,817
Trade creditors
421,800
477,529
Corporation tax
85,344
169,311
Other taxation and social security
21
-
0
Other creditors
-
0
483
Accruals and deferred income
2,000
49,904
628,532
946,446

The bank loans are secured. Obligations under hire purchase contracts are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
363,499
322,842
Obligations under hire purchase contracts
34,604
63,841
398,103
386,683

The bank loans are secured. Obligations under hire purchase contracts are secured on the assets to which they relate.

Amounts included above which fall due after five years are as follows:
Payable by instalments
186,985
110,820
Enco Limited
ENCO LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 July 2024
- 6 -
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
54,944
73,249
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Parent company

The company is a wholly owned subsidiary of Enco Property Holdings Ltd, a company registered in England and Wales, whose registered office is Bridgefield Works, Bridgefield Road, Elland, HX5 0SQ.

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