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Filleted

Registration number: 14186803

Enzo's Developments LATEP (White Cliff Court) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Enzo's Developments LATEP (White Cliff Court) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Enzo's Developments LATEP (White Cliff Court) Ltd

Company Information

Director

Mr F Sauro

Registered office

Unit 6, Block A, Llys y Barcud
Clos Gelliwerdd
Cross Hands
Llanelli
SA14 6RX

 

Enzo's Developments LATEP (White Cliff Court) Ltd

(Registration number: 14186803)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

4,868,875

2,252,820

Debtors

5

2,762,600

716,600

Cash at bank and in hand

 

784

145,322

 

7,632,259

3,114,742

Creditors: Amounts falling due within one year

6

(2,370,470)

(1,113,238)

Total assets less current liabilities

 

5,261,789

2,001,504

Creditors: Amounts falling due after more than one year

6

(5,275,626)

(2,002,827)

Net liabilities

 

(13,837)

(1,323)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(13,937)

(1,423)

Total equity

 

(13,837)

(1,323)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mr F Sauro
Director

   
     
 

Enzo's Developments LATEP (White Cliff Court) Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6, Block A, Llys y Barcud
Clos Gelliwerdd
Cross Hands
Llanelli
SA14 6RX

These financial statements were authorised for issue by the director on 18 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Enzo's Developments LATEP (White Cliff Court) Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Work in progress

4,868,875

2,252,820

 

Enzo's Developments LATEP (White Cliff Court) Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

2,762,215

716,500

Other debtors

 

385

100

 

2,762,600

716,600

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,710

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

2,305,265

1,090,245

Other creditors

 

63,495

22,993

 

2,370,470

1,113,238

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,275,626

2,002,827

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Enzo's Developments LATEP (White Cliff Court) Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

5,275,626

2,002,827

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

During the period the following companies are considered to be related parties due to the entity's ability to exercise significant influence over/by them;

- LATEP Capital Ltd
- Enzo's Developments LATEP Ltd

 
At the balance sheet date the entity owed £2,305.265 to the related parties.
At the balance sheet date the entity was owed £2,762,215 from its related parties.