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Registration number: 08761141

ENDEAVOUR SECURITIES LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

ENDEAVOUR SECURITIES LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

ENDEAVOUR SECURITIES LTD

Company Information

Directors

V S Hunjan

D Li

Registered office

Churchill House
120 Bunns Lane
Mill Hill
London
NW7 2AS

Accountants

K&S Professionals Limited
Chartered Certified Accountants
41 Rivington Crescent
Mill Hill
London
NW7 2LF

 

ENDEAVOUR SECURITIES LTD

(Registration number: 08761141)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

600,000

600,000

Current assets

 

Debtors

6

596,939

620,638

Creditors: Amounts falling due within one year

7

(582,972)

(604,632)

Net current assets

 

13,967

16,006

Total assets less current liabilities

 

613,967

616,006

Creditors: Amounts falling due after more than one year

7

(478,241)

(478,880)

Provisions for liabilities

(28,500)

(28,500)

Net assets

 

107,226

108,626

Capital and reserves

 

Called up share capital

8

2

2

Revaluation reserve

121,500

121,500

Retained earnings

(14,276)

(12,876)

Shareholders' funds

 

107,226

108,626

For the financial year ending 30 September 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

 

ENDEAVOUR SECURITIES LTD

(Registration number: 08761141)
Balance Sheet as at 30 September 2024

.........................................
V S Hunjan
Director

   
     
 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Churchill House
120 Bunns Lane
Mill Hill
London
NW7 2AS

These financial statements were authorised for issue by the Board on 28 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.

Going concern

The director has considered the company’s financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade 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.

Trade 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

 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 directors) during the year, was 2 (2023 - 2).

 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

305

305

At 30 September 2024

305

305

Depreciation

At 1 October 2023

305

305

At 30 September 2024

305

305

Carrying amount

At 30 September 2024

-

-

5

Investment properties

2024
£

At 1 October

600,000

At 30 September

600,000

The investment property was valued on an open market basis on 30 September 2024 by the directors of the company.

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

890

1,630

Amounts owed by related parties

595,299

618,256

Prepayments

 

-

2

Other debtors

 

750

750

   

596,939

620,638

 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,220

12,119

Taxation and social security

 

129

-

Accruals and deferred income

 

1,500

1,500

Other creditors

 

580,123

591,013

 

582,972

604,632

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

478,241

478,880

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,241

19,880

Other borrowings

459,000

459,000

478,241

478,880

The loan is secured by a legal charge over the company's properties.

 

ENDEAVOUR SECURITIES LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

10,000

Bank overdrafts

1,220

2,119

1,220

12,119