Company registration number 12154626 (England and Wales)
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
COMPANY INFORMATION
Directors
Mrs S L Pawson
Mr S M Jones
Mr T Davy
Company number
12154626
Registered office
1 York Place
Leeds
LS1 2DR
Auditor
Azets Audit Services Limited
12 King Street
Leeds
LS1 2HL
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 21
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

The Company commenced trading in 2019 to provide consulting services consisting of Advisory – Fractional technology leadership and consultancy, Team Augmentation – Consultants or full teams of experts working in collaboration with our clients teams and Outsourced Technology Delivery - where we would deliver projects or services for our clients with ownership of the outcomes.

The Company provides its clients with technology services, as agreed in a statement of work, and delivered by associates. Associates are contractors who once sourced are then put through a quality assessment by the Company and who are then deployed to deliver against the statement of work. The Company is committed to delivering the highest standards of service to its clients and engagement with clients is closely managed by Company personnel.

Following the strong growth in 2023, the Company has had another strong year with a further 10.6% growth in revenue.

Following the investment received at the end of 2023, the Company has re-branded and put in place plans to grow the team and focus on accelerated growth in both international and local markets in 2025 and beyond.

Principal risks and uncertainties

As a result of normal business activities, the Company is exposed to a range of operational and financial risks which may affect future performance. The key risks are:

Competition - The Company operates in a highly competitive market but mitigates against this risk through maintaining key relationships between the Company and its clients.

Associate Retention – The Company always faces the risk that associates will be approached by competitors. The Directors mitigate against this by maintaining strong relationships with associates through the associate network and by adding value through targeted events. An active plan is in place to ensure a constant flow of new talent into the business.

Financial - The Cost of Living and other economic pressures results in businesses holding back on potential IT projects, or using in House resources, which impacts on the Company’s ability to win new business. This is mitigated through the quality of the service provided and maintaining relationships with clients. In addition, economic pressure results in a higher risk of clients defaulting. The Company monitors its credit risk closely with credit checks through a reputable credit agency and a high degree of focus on ageing of customer debt.

Results for the year

Revenue increased from £15.4m to £17.1m, an overall year on year business growth of 10.6% in 2024.

Gross margin also increased, from £2.4m to £2.8m, a 20.0% growth, driven by the revenue increase combined with the gross margin improvement as a result of the project mix within the year.

The overall growth in gross margin, coupled with strong cost control whilst allowing for investment in business development for future growth resulted in a net profit for the year of £1.7m (2023: £1.1m).

The net assets of the Company at the year-end increased to £4.5m (2023: £2.8m).

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Key performance indicators

The Company operates a number of KPIs, both financial and non-financial.

The main KPIs used within the business to judge performance in the financial year and to ensure the Company grows and remains financially strong to enable future investment are Gross Margin and EBITDA.

Overall Gross Margin at 16.7% has improved in 2024 when compared to the previous year at 15.4%. EBITDA for 2024 improved by 37% to £2.0m.

Non-financial KPI’s are mainly sales related and are mainly focussed on attrition rates and contractor headcount.

Future Developments and Opportunities

The Company began the current financial year in a strong trading position, building on the outturn at the end of 2024. Performance has been above expectations in 2025 to date with significant investment in the growth of the team in the first half of the year to drive growth in the second half of the year and for the future.

The Directors believe that whilst there is some economic uncertainty in the markets, the Company will continue to build on its current client base, through its excellent stable relationships with existing major clients and its pipeline of prospective business, resulting in the Company continuing to enjoy solid growth.

The Company will continue to ensure that its systems meet the demands of the market, utilising technology to drive efficiency in delivery of services and in internal processes.

The ongoing sourcing and recruitment of the best candidates is key to the future development of the Company and its financial performance and an active plan is in place to ensure a constant flow of new talent into the business.

The Directors are confident that the Company has both the financial and management resources to continue to grow the business into the future.

On behalf of the board

Mrs S L Pawson
Director
7 July 2025
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of technology consulting.

Results and dividends

The results for the year are set out on page 8.

No interim ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs S L Pawson
Mr S M Jones
Mr T Davy
Auditor

Azets Audit Services Limited were appointed as auditor to the company and in accordance with section 487(2) of the Companies Act 2006 they are deemed to be reappointed annually.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mrs S L Pawson
Director
7 July 2025
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ENABLIS CONSULTING LIMITED
- 5 -
Opinion

We have audited the financial statements of Enablis Consulting Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ENABLIS CONSULTING LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ENABLIS CONSULTING LIMITED
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

- Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Matthew Grant
Senior Statutory Auditor
For and on behalf of Azets Audit Services Limited
7 July 2025
2025-07-07
Chartered Accountants
Statutory Auditor
12 King Street
Leeds
LS1 2HL
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
17,064,693
15,425,814
Cost of sales
(14,218,316)
(13,053,904)
Gross profit
2,846,377
2,371,910
Administrative expenses
(825,652)
(900,026)
Operating profit
4
2,020,725
1,471,884
Interest receivable and similar income
6
1,688
494
Profit before taxation
2,022,413
1,472,378
Tax on profit
7
(282,578)
(347,685)
Profit for the financial year
1,739,835
1,124,693

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
8
1,192
1,589
Tangible assets
9
3,534
436
4,726
2,025
Current assets
Debtors
10
7,437,256
6,162,636
Cash at bank and in hand
70,943
144,854
7,508,199
6,307,490
Creditors: amounts falling due within one year
11
(3,005,331)
(3,541,756)
Net current assets
4,502,868
2,765,734
Net assets
4,507,594
2,767,759
Capital and reserves
Called up share capital
13
100
100
Profit and loss reserves
4,507,494
2,767,659
Total equity
4,507,594
2,767,759
The financial statements were approved by the board of directors and authorised for issue on 7 July 2025 and are signed on its behalf by:
Mrs S L Pawson
Director
Company Registration No. 12154626
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
100
1,642,966
1,643,066
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
1,124,693
1,124,693
Balance at 31 December 2023
100
2,767,659
2,767,759
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
1,739,835
1,739,835
Balance at 31 December 2024
100
4,507,494
4,507,594
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
18
518,671
(2,228,829)
Income taxes paid
(590,772)
(299,626)
Net cash outflow from operating activities
(72,101)
(2,528,455)
Investing activities
Purchase of tangible fixed assets
(3,498)
-
0
Interest received
1,688
494
Net cash (used in)/generated from investing activities
(1,810)
494
Net decrease in cash and cash equivalents
(73,911)
(2,527,961)
Cash and cash equivalents at beginning of year
144,854
2,672,815
Cash and cash equivalents at end of year
70,943
144,854
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
1
Accounting policies
Company information

Enablis Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 York Place, Leeds, LS1 2DR.

The entity changed it's name from Fruition IT Consulting Limited to Enablis Consulting Limited on 25 November 2024.

1.1
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Enablis Consulting Limited is a wholly owned subsidiary of Vyrga Holdings Limited and the results of Enablis Consulting Limited are included in the consolidated financial statements of Vyrga Holdings Limited which are available from 38 - 39 Fitzwilliam Square West, Dublin 2, Dublin, Ireland.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 a 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 current 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the opinion of the directors these financial statements are not dependent upon any accounting estimates or judgements.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Consultancy Services
17,064,693
15,425,814
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
17,064,693
15,425,814
2024
2023
£
£
Other revenue
Interest income
1,688
494
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
703
-
0
Fees payable to the company's auditor for the audit of the company's financial statements
16,750
15,400
Depreciation of owned tangible fixed assets
400
146
Amortisation of intangible assets
397
530
Operating lease charges
2,494
-
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
3
2
Employees
2
2
Total
5
4

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
110,744
103,489
Social security costs
13,400
12,189
Pension costs
913
1,241
125,057
116,919
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
1,688
494
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
283,423
347,685
Adjustments in respect of prior periods
(845)
-
0
Total current tax
282,578
347,685

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
2,022,413
1,472,378
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
505,603
346,009
Tax effect of expenses that are not deductible in determining taxable profit
924
-
0
Adjustments in respect of prior years
(427)
-
0
Group relief
(222,444)
-
0
Other adjustments
(1,078)
1,676
Taxation charge for the year
282,578
347,685
8
Intangible fixed assets
Software
£
Cost
At 1 January 2024 and 31 December 2024
2,365
Amortisation and impairment
At 1 January 2024
776
Amortisation charged for the year
397
At 31 December 2024
1,173
Carrying amount
At 31 December 2024
1,192
At 31 December 2023
1,589
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
9
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
1,034
Additions
3,498
At 31 December 2024
4,532
Depreciation and impairment
At 1 January 2024
598
Depreciation charged in the year
400
At 31 December 2024
998
Carrying amount
At 31 December 2024
3,534
At 31 December 2023
436
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,572,053
3,276,156
Unpaid share capital
100
100
Amounts owed by group undertakings
1,032,591
855,803
Other debtors
934,620
410,421
Prepayments and accrued income
1,897,892
1,620,156
7,437,256
6,162,636

Amounts owed by group undertakings are unsecured and repayable on demand.

11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
247,774
204,472
Corporation tax
39,491
347,685
Other taxation and social security
14,252
5,004
Other creditors
28,375
28,779
Accruals and deferred income
2,675,439
2,955,816
3,005,331
3,541,756
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
12
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
913
1,241

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary share capital of £1 each
90
90
90
90
A Ordinary share capital of £1 each
10
10
10
10
100
100
100
100

All shares classes have attached to them full voting, dividend and capital distribution rights; they do not confer any rights of redemption.

14
Financial commitments, guarantees and contingent liabilities

The company is party to a group guarantee including fixed and floating charges over the undertaking. The group guarantee consists of Uill Holdings Limited, Uill Limited, Enablis Consulting Limited and Fruition Group Limited.

At the year end, loans totalled £7,966,900. As at the date of approval of the financial statements, no default has occurred which would trigger the above liability, nor is one anticipated. As such, the directors consider that the fair value of this obligation is £nil, and as such there is no recognition of a liability on the balance sheet.

15
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
57,094
-
0
ENABLIS CONSULTING LIMITED
(FORMERLY FRUITION IT CONSULTING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
16
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
369,121
275,226
Other related parties
663,470
580,577
1,032,591
855,803
17
Ultimate controlling party

The immediate parent company is Uill Limited, a company registered in England and Wales. The Company is a subsidiary undertaking of Vyrga Holdings Limited, which is the ultimate parent company registered in Ireland.

The largest and smallest group into which the results of the Company are consolidated is that headed by Vyrga Holdings Limited. The consolidated accounts of this company are available to the public and may be obtained from its registered office. No other group accounts include the results of the Company.

18
Cash generated from/(absorbed by) operations
2024
2023
£
£
Profit for the year after tax
1,739,835
1,124,693
Adjustments for:
Taxation charged
282,578
347,685
Investment income
(1,688)
(494)
Amortisation and impairment of intangible assets
397
530
Depreciation and impairment of tangible fixed assets
400
146
Movements in working capital:
Increase in debtors
(1,274,620)
(2,295,693)
Decrease in creditors
(228,231)
(1,405,696)
Cash generated from/(absorbed by) operations
518,671
(2,228,829)
19
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
144,854
(73,911)
70,943
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