ACCOUNTS - Final Accounts preparation

ENTERPRISE INVESTMENT EXCHANGE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-3132021-01-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08243270 2021-01-01 2021-12-31 08243270 2020-01-01 2020-12-31 08243270 2021-12-31 08243270 2020-12-31 08243270 c:Director1 2021-01-01 2021-12-31 08243270 d:CurrentFinancialInstruments 2021-12-31 08243270 d:CurrentFinancialInstruments 2020-12-31 08243270 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08243270 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 08243270 d:ShareCapital 2021-12-31 08243270 d:ShareCapital 2020-12-31 08243270 d:SharePremium 2021-12-31 08243270 d:SharePremium 2020-12-31 08243270 d:RetainedEarningsAccumulatedLosses 2021-12-31 08243270 d:RetainedEarningsAccumulatedLosses 2020-12-31 08243270 c:FRS102 2021-01-01 2021-12-31 08243270 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 08243270 c:FullAccounts 2021-01-01 2021-12-31 08243270 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08243270 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 08243270

ENTERPRISE INVESTMENT EXCHANGE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

ENTERPRISE INVESTMENT EXCHANGE LIMITED

REGISTERED NUMBER: 08243270

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Investments	4		4		4
			4		4
Current assets
Debtors: amounts falling due within one year	5	7,279,473		7,106,560
Cash at bank and in hand	6	4		40,879
		7,279,477		7,147,439
Creditors: amounts falling due within one year	7	(3,844,425)		(3,488,858)
Net current assets			3,435,052		3,658,581
Total assets less current liabilities			3,435,056		3,658,585

Net assets			3,435,056		3,658,585

Capital and reserves
Called up share capital	10,733	10,733
Share premium account	5,690,526	5,690,526
Profit and loss account	(2,266,203)	(2,042,674)
	3,435,056	3,658,585

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ENTERPRISE INVESTMENT EXCHANGE LIMITED

REGISTERED NUMBER: 08243270

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M Blakey

Director

Date: 26 September 2022

The notes on pages 3 to 6 form part of these financial statements.

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ENTERPRISE INVESTMENT EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Enterprise Investment Exchange Limited is a private company, limited by shares, registered in England and Wales, registration number 08513275. The principal place of business is 107 Cheapside, London, EC2V 6DN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Covid-19 pandemic, lockdown of business and communities, restriction on travel and meetings, and the serious economic impact and uncertainty the pandemic caused has resulted in unprecedented challenges to raising funds, and sustaining early stage businesses. The directors have continually reviewed the going concern basis of the business, and have in the light of various interests expressed in participating in the placing of the new shares, authorised by the shareholder to be issued, continued to trade, with the understanding and support of creditors, including a very loyal team, but only on a care and maintenance basis, pending closing the funding. We have received great encouragement from Pilots, and potential investors for bonds when listed on EIX, for the importance and value of this unique exchange, and the directors remain hopeful that the company will be able to raise sufficient working capital to sustain the business. The directors have not considered the impact on the going concern if the fund raising was not successful.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

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.

2.6

Creditors

Short term creditors are measured at the transaction price.

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ENTERPRISE INVESTMENT EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2021	4
	At 31 December 2021	4

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ENTERPRISE INVESTMENT EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	7,274,913	7,106,303
Other debtors	4,560	257
	7,279,473	7,106,560

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	4	40,879
	4	40,879

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other loans	2,625,000	2,475,000
Trade creditors	111,360	124,512
Amounts owed to group undertakings	3	3
Other creditors	1,105,312	886,593
Accruals and deferred income	2,750	2,750
	3,844,425	3,488,858

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ENTERPRISE INVESTMENT EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Related party transactions

As at 31 December 2021, Estates and Infrastructure Services Limited, the company's subsidiary, owed Enterprise Investment Exchange Limited £7,274,913 (2020: £7,106,303).
As at 31 December 2021, there was £1 unpaid share capital for each of the current year investments in three subsidiary companies (Estates and Infrastructure Advisory Ltd, Estates and Infrastructure Data Ltd and Estates and Infrastructure Exchange Ltd respectively) and recorded within current creditors.
As permitted by FRS102 paragraphs 1.12e and 33.1a, the company has taken advantage of the exemption from disclosing the transactions entered into between two or more members of a group as all subsidiary undertakings are wholly-owned by a member of that group.
Included within other creditors is an amount owed to directors totalling £663,700 (2020: £668,000), this is repayable on demand.

9.	Controlling party

It is deemed that no ultimate controlling party exists.

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