| Enterprise UK Precision Sheetmetal Ltd |
| Registered number: |
07043101 |
| Abridged Balance Sheet |
| as at 31 October 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
188,271 |
|
|
222,646 |
| Tangible assets |
4 |
|
|
386,475 |
|
|
316,604 |
| Investments |
5 |
|
|
875,445 |
|
|
779,066 |
|
|
|
|
1,450,191 |
|
|
1,318,316 |
|
| Current assets |
| Stocks |
|
|
10,234 |
|
|
31,481 |
| Debtors |
|
|
841,346 |
|
|
789,274 |
| Investments held as current assets |
6 |
|
- |
|
|
60,286 |
| Cash at bank and in hand |
|
|
2,369,572 |
|
|
2,164,775 |
|
|
|
3,221,152 |
|
|
3,045,816 |
|
| Creditors: amounts falling due within one year |
|
|
(775,833) |
|
|
(890,497) |
|
| Net current assets |
|
|
|
2,445,319 |
|
|
2,155,319 |
|
| Total assets less current liabilities |
|
|
|
3,895,510 |
|
|
3,473,635 |
|
|
| Provisions for liabilities |
|
|
|
(101,862) |
|
|
(60,154) |
|
|
| Net assets |
|
|
|
3,793,648 |
|
|
3,413,481 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
3,793,548 |
|
|
3,413,381 |
|
| Shareholders' funds |
|
|
|
3,793,648 |
|
|
3,413,481 |
|
|
|
|
|
|
|
|
| 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 14 October 2026 |
|
| Enterprise UK Precision Sheetmetal Ltd |
| Notes to the Abridged Accounts |
| for the year ended 31 October 2025 |
|
|
| 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 precious metals |
|
Precious metals (gold and silver bullion) held as a long-term economic hedge are classified as Tangible Fixed Assets and are accounted for under the cost model. Precious metals are initially recognized at cost, which includes the purchase price plus any directly attributable transaction and brokerage costs.Following initial recognition, precious metals are carried at cost less any accumulated impairment losses. Precious metals are considered to have an indefinite useful life and do not wear out or become obsolete through use. Consequently, no depreciation is provided on these assets. At each reporting date, the directors review the carrying value against current market spot prices. If the market value falls below historical cost, an impairment loss is recognized immediately in the Profit and Loss account. Subsequent recoveries in market value are not recognized unless they reverse a prior impairment. |
|
|
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 |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
18 |
|
18 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
| Crypto- |
| Currency |
|
Cost |
|
At 1 November 2024 |
344,375 |
|
At 31 October 2025 |
344,375 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 November 2024 |
121,729 |
|
Provided during the year |
34,375 |
|
At 31 October 2025 |
156,104 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
188,271 |
|
At 31 October 2024 |
222,646 |
|
|
|
|
|
|
|
|
|
|
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 2024 |
817,883 |
|
Additions |
227,111 |
|
Disposals |
(205,920) |
|
At 31 October 2025 |
839,074 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2024 |
501,279 |
|
Charge for the year |
128,815 |
|
On disposals |
(177,495) |
|
At 31 October 2025 |
452,599 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
386,475 |
|
At 31 October 2024 |
316,604 |
|
|
| 5 |
Investment |
|
| Precious |
Listed |
Land and |
| metals |
shares |
buildings |
Total |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 November 2024 |
331,565 |
|
- |
|
447,501 |
|
779,066 |
|
Additions |
- |
|
392,074 |
|
- |
|
392,074 |
|
Revaluation |
- |
|
20,975 |
|
- |
|
20,975 |
|
Disposals |
- |
|
- |
|
(316,670) |
|
(316,670) |
|
|
At 31 October 2025 |
331,565 |
|
413,049 |
|
130,831 |
|
875,445 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 November 2024 |
331,565 |
|
- |
|
447,501 |
|
At 31 October 2025 |
331,565 |
|
413,049 |
|
447,501 |
|
|
|
|
|
|
|
|
Investments in physical precious metals are initially recognized at cost and subsequently stated at historical cost less any accumulated impairment losses.
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.
Land and buildings were valued on an open market basis by the director, Mr D Hodgkinson and this revaluation has been incorporated within the financial statements.Mr Hodgkinson has no formal valuation qualification but is of the opinion that the investment property is fairly stated at its open market value by reference to values of other properties in the locality of similar size and age.
|
|
| 6 |
Investments held as current assets |
2025 |
|
2024 |
| £ |
£ |
|
Fair value |
|
Listed investments |
- |
|
44,050 |
|
Unlisted investments |
- |
|
16,236 |
|
|
|
|
|
|
- |
|
60,286 |
|
|
|
|
|
|
|
|
|
|
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 |
2025 |
|
2024 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
268,230 |
|
223,750 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Prior year adjustment |
|
|
During the year, the directors identified that precious metals held as a general economic hedge against inflation were incorrectly classified as Inventories (Stock) within Current Assets in the previous financial year. Because these assets are not consumed in the manufacturing process or held for resale in the ordinary course of business, they have been reclassified as Investments. |
|
|
Balance Sheet Line Item |
Previously |
Adjustment |
As Restated |
| reported |
| £ |
£ |
£ |
|
Current Assets: Stocks |
363,046 |
|
(331,564) |
|
31,482 |
|
Tangible Fixed Assets |
447,502 |
|
331,564 |
|
779,066 |
|
Total Net Assets |
3,413,480 |
|
- |
|
3,413,480 |
|
|
|
|
|
|
3,860,982 |
|
331,564 |
|
4,192,546 |
|
|
|
|
|
|
|
|
|
|
There is no impact on the comparative Profit and Loss account or total net assets, as both items are balance sheet asset lines, but the proper classification and comparative balances have been corrected |
|
| 9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Loan |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr Dean Hodgkinson |
|
Unsecured advance repayable by equal instalments over 20 years. Interest rate 2.25% per annum. |
207,303 |
|
39,365 |
|
(19,685) |
|
226,983 |
|
|
Mr Mark Hoggitt |
|
Unsecured advance repayable by equal instalments over 20 years. Interest rate 2.25% per annum. |
38,450 |
|
9,840 |
|
(10,000) |
|
38,290 |
|
|
|
245,753 |
|
49,205 |
|
(29,685) |
|
265,273 |
|
|
|
|
|
|
|
|
|
|
| 10 |
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 |