Registered number
07043101
Enterprise UK Precision Sheetmetal Ltd
Filleted Abridged Accounts
31 October 2024
Aspect Accounting Ltd
47 Knowsley Street
Bury
Lancashire
BL9 0ST
Enterprise UK Precision Sheetmetal Ltd
Registered number: 07043101
Abridged Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 222,646 257,021
Tangible assets 4 316,604 202,787
Investments 5 447,501 447,501
986,751 907,309
Current assets
Stocks 363,046 303,368
Debtors 789,274 842,638
Investments held as current assets 6 60,286 51,738
Cash at bank and in hand 2,164,775 1,828,604
3,377,381 3,026,348
Creditors: amounts falling due within one year (890,497) (857,596)
Net current assets 2,486,884 2,168,752
Total assets less current liabilities 3,473,635 3,076,061
Provisions for liabilities (60,154) (38,547)
Net assets 3,413,481 3,037,514
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,413,381 3,037,414
Shareholders' funds 3,413,481 3,037,514
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr Dean Hodgkinson
Director
Approved by the board on 28 July 2025
Enterprise UK Precision Sheetmetal Ltd
Notes to the Abridged Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Inangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is provided to write off the cost over 10 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Investment property
The company owns a freehold building that is held to earn long term rental income and for capital appreciation. Investment properties are initially recognised at cost. Investment properties whose fair value can be measured reliably are measured at fair value. Changes in fair value are recognised in the profit and loss account.
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment in cryptocurrency
Cryptocurrency assets are classified as intangible assets . These assets are initially measured at cost, which includes the purchase price and any directly attributable costs of acquisition. Subsequent to initial recognition, cryptocurrencies are measured at cost less any accumulated amortisation and impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 18
3 Intangible fixed assets £
Crypto-
Currency
Cost
At 1 November 2023 344,375
At 31 October 2024 344,375
Amortisation
At 1 November 2023 87,354
Provided during the year 34,375
At 31 October 2024 121,729
Net book value
At 31 October 2024 222,646
At 31 October 2023 257,021
Intangible fixed assets are amortised to write off the cost of the asset over 10 years. These assets are tested on an annual basis to establish any impairment in value. Provision is made against profits where value falls below cost less accumulated amortisation.
4 Tangible fixed assets
Total
£
Cost
At 1 November 2023 593,619
Additions 224,264
At 31 October 2024 817,883
Depreciation
At 1 November 2023 390,832
Charge for the year 110,447
At 31 October 2024 501,279
Net book value
At 31 October 2024 316,604
At 31 October 2023 202,787
5 Investment
Land and
buildings
£
Fair Value
At 1 November 2023 447,501
At 31 October 2024 447,501
Historical cost
At 1 November 2023 447,501
At 31 October 2024 447,501
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 44,050 44,050
Unlisted investments 16,236 7,688
60,286 51,738
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 8,548 10,310
The listed investments were valued by the director, Mr D Hodgkinson. The fair value for these investments were calculated by reference to London Stock Exchange prices.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 223,750 96,000
8 Loans to directors
Description and conditions B/fwd Loan Repaid C/fwd
£ £ £ £
Mr Dean Hodgkinson
Unsecured advance repayable by equal installments over 20 years.Interest rate 2.25% per annum. 227,259 (19,956) 207,303
Mr Mark Hoggitt
Unsecured advance repayable by equal installments over 20 years.Interest rate 2.25% per annum. 38,450 38,450
265,709 - (19,956) 245,753
9 Other information
Enterprise UK Precision Sheetmetal Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit B11 Derwent Way
Moss Industrial Estate St Helens Rd
Leigh
United Kingdom
M34 2AQ
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