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REGISTERED NUMBER: NI615918 (Northern Ireland)













Ensol Retaining Structures Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Ensol Retaining Structures Limited (Registered number: NI615918)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 9


Ensol Retaining Structures Limited

Company Information
for the Year Ended 31 December 2024







Director: Mr J Scott





Secretary: Mr J Scott





Registered office: Mourne View House
10a Millvale Road
Rathfriland
Co Down
BT34 5NT





Registered number: NI615918 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Ensol Retaining Structures Limited (Registered number: NI615918)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 371,710 356,628
371,710 356,628

Current assets
Inventories 6 36,450 73,740
Receivables 7 64,111 57,071
Cash at bank 24,565 20,076
125,126 150,887
Payables
Amounts falling due within one year 8 (104,381 ) (105,897 )
Net current assets 20,745 44,990
Total assets less current liabilities 392,455 401,618

Payables
Amounts falling due after more than one year 9 (80,217 ) (87,217 )

Provisions for liabilities 10 (68,957 ) (73,507 )
Net assets 243,281 240,894

Capital and reserves
Called up share capital 1 1
Retained earnings 243,280 240,893
243,281 240,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ensol Retaining Structures Limited (Registered number: NI615918)

Statement of Financial Position - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 July 2025 and were signed by:





Mr J Scott - Director


Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. Statutory information

Ensol Retaining Structures Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities..

Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial Instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets
Basic financial assets, including trade and other receivables, cash and and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. Accounting policies - continued

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

Work in Progress
The company recognises work in progress in respect of the stage of completion of construction services which have not been invoiced at the reporting date. This requires an estimation of the stage of completion of each particular assignment commenced but not complete at the reporting date. The carrying amount of work in progress at 31 December 2024 was £35,200 (2023:£72,365).

3. Employees and directors

The average number of employees during the year was 9 (2023 - 14 ) .

Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024
and 31 December 2024 48,000
Amortisation
At 1 January 2024
and 31 December 2024 48,000
Net book value
At 31 December 2024 -
At 31 December 2023 -

5. Property, plant and equipment
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
Cost
At 1 January 2024 22,000 454,788 191,418 668,206
Additions - 22,574 78,479 101,053
Disposals - - (32,755 ) (32,755 )
At 31 December 2024 22,000 477,362 237,142 736,504
Depreciation
At 1 January 2024 - 190,856 120,722 311,578
Charge for year - 53,339 26,453 79,792
Eliminated on disposal - - (26,576 ) (26,576 )
At 31 December 2024 - 244,195 120,599 364,794
Net book value
At 31 December 2024 22,000 233,167 116,543 371,710
At 31 December 2023 22,000 263,932 70,696 356,628

Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. Property, plant and equipment - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1 January 2024 196,500 43,090 239,590
Additions 21,500 78,479 99,979
At 31 December 2024 218,000 121,569 339,569
Depreciation
At 1 January 2024 9,797 16,841 26,638
Charge for year 37,701 16,886 54,587
At 31 December 2024 47,498 33,727 81,225
Net book value
At 31 December 2024 170,502 87,842 258,344
At 31 December 2023 186,703 26,249 212,952

6. Inventories
2024 2023
£ £
Inventories 1,250 1,375
Work-in-progress 35,200 72,365
36,450 73,740

7. Receivables: amounts falling
due within one year
2024 2023
£ £
Trade receivables 57,841 54,393
Other receivables 6,270 2,678
64,111 57,071

8. Payables: amounts falling
due within one year
2024 2023
£ £
Bank loans and overdrafts 17,754 17,000
Hire purchase contracts 66,445 58,739
Trade payables 3,931 6,396
Taxation and social security 4,156 14,226
Other payables 12,095 9,536
104,381 105,897

Included within other payables is an amount of £6,183 (2023: £4,883) owing to the director.

Ensol Retaining Structures Limited (Registered number: NI615918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. Payables: amounts falling
due after more than one year
2024 2023
£ £
Bank loans 5,000 12,000
Hire purchase contracts 75,217 75,217
80,217 87,217

10. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 68,957 73,507

Deferred tax
£
Balance at 1 January 2024 73,507
Credit to Statement of income and retained earnings during year (4,550 )
Balance at 31 December 2024 68,957

11. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£ £
Mr J Scott
Balance outstanding at start of year (4,883 ) (5,619 )
Amounts advanced 260 1,893
Amounts repaid (1,560 ) (1,157 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,183 ) (4,883 )