Company registration number 10007299 (England and Wales)
ENCO PROPERTY HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ENCO PROPERTY HOLDINGS LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
ENCO PROPERTY HOLDINGS LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
369,708
238,107
Investments
3
100
100
369,808
238,207
Current assets
Debtors
4
98,668
105,188
Cash at bank and in hand
215,422
1,752
314,090
106,940
Creditors: amounts falling due within one year
5
(327)
(3,258)
Net current assets
313,763
103,682
Net assets
683,571
341,889
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
683,471
341,789
Total equity
683,571
341,889
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 10007299 (England and Wales)
Enco Property Holdings Ltd
ENCO PROPERTY HOLDINGS LTD
Notes to the financial statements
for the year ended 31 July 2024
- 2 -
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover represents the fair value of the consideration received or receivable for goods and services provided in the normal course of business. Turnover is recognised on an accruals basis.
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
Motor vehicles
25% reducing balance
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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.
Enco Property Holdings Ltd
ENCO PROPERTY HOLDINGS LTD
Notes to the financial statements (CONTINUED)
for the year ended 31 July 2024
1
Accounting policies
(Continued)
- 3 -
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.
Leases
2
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 August 2023
227,430
12,500
239,930
Additions
11,500
138,186
149,686
At 31 July 2024
238,930
150,686
389,616
Depreciation and impairment
At 1 August 2023
1,823
1,823
Depreciation charged in the year
18,085
18,085
At 31 July 2024
19,908
19,908
Carrying amount
At 31 July 2024
238,930
130,778
369,708
At 31 July 2023
227,430
10,677
238,107
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
12,002
Other debtors
98,668
93,186
98,668
105,188
Enco Property Holdings Ltd
ENCO PROPERTY HOLDINGS LTD
Notes to the financial statements (CONTINUED)
for the year ended 31 July 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
327
2,056
Other taxation and social security
1,202
327
3,258
6
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