REGISTERED NUMBER: 15446869 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 27 JANUARY 2024 TO 31 JANUARY 2025

FOR

ENCORE ASSETS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A E D Lysak

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

15446869 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

4

1,180

Investments

5

1,386,016

1,387,196

CURRENT ASSETS

Debtors

6

347,410

Cash at bank

488,562

835,972

CREDITORS

Amounts falling due within one year

7

298,541

NET CURRENT ASSETS

537,431

TOTAL ASSETS LESS CURRENT LIABILITIES

1,924,627

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

1,924,527

SHAREHOLDERS' FUNDS

1,924,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2025 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.

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 27 December 2025 and were signed by:

A E D Lysak - Director

1.	STATUTORY INFORMATION

The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.

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.

Turnover

Turnover represents the fair value of consideration received or receivable in relation to consultancy services, excluding discounts, rebates or value added tax. Revenue is recognised to the extent that there is a right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments

Basic financial assets

Basic financial assets, which include debtors and cash and cash equivalents, 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. Amortised cost is determined as being the transaction price less any amounts settled and any impairment losses. Financial assets classified as receivable within one year are not amortised.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Basic financial liabilities

Basic financial liabilities, including trade, group and other creditors (including accruals) payable are initially measured at the transaction price and subsequently measured at amortised cost unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as receivable within one year are not amortised.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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 or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments in associates and other unlisted investments

Investments in associates and other unlisted shares are recognised at cost less accumulated impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

Additions

1,770

At 31 January 2025

1,770

DEPRECIATION

Charge for period

590

At 31 January 2025

590

NET BOOK VALUE

At 31 January 2025

1,180

5.	FIXED ASSET INVESTMENTS

Interest

in

Unlisted

associate

investments

Totals

£

£

£

COST

Additions

552,500

1,386,016

1,938,516

Disposals

(552,500

)

-

(552,500

)

At 31 January 2025

-

1,386,016

1,386,016

NET BOOK VALUE

At 31 January 2025

-

1,386,016

1,386,016

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

347,410

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tax

274,187

Accruals and deferred income

24,354

298,541

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

50

Ordinary A

1

50

50

Ordinary B

1

50

100

Each share is entitled to one vote in any circumstances. Each share is entitled to receive a general dividend in respect of the company to the exclusion of other classes but where a dividend is declared on more than one class of share the dividend for each class may be fixed individually. Each share is entitled pari passu to participate in a distribution arising from the winding up of the company.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period the company advanced £345,819 to a director and the director made repayments of £100. Interest of £1,691 has accrued on the loan at 2.25%. At the year end, the directors owed the company £347,410. The advances were unsecured and repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year the company provided consulting services of £8,750 to an associated company.

During the year the company provided consulting services of £50,000 to a company in which the director also holds a directorship.