ENL Properties Ltd - Accounts

ENL Properties Ltd - Accounts

ENL PROPERTIES LTD - Company Information

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Registered Number: 12094750
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2022

for

ENL PROPERTIES LTD

ENL Properties Ltd
Contents Page
For the year ended 31 July 2022
Directors Mr L Isaias
Mr N Isaias
Mrs E Solomon
Registered Number 12094750
Registered Office 5 Sandy Court
Ashleigh Way
Plymouth
Devon
PL7 5JX
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 July 2022.
Principal activities
The principal activity of the company in the year under review was that of letting and operating of own real estate.
Directors
The directors who have held office during the whole of the year were as follows:
Mr L Isaias
Mr N Isaias
Mrs E Solomon
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 (Financial Reporting Standard 102). 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 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
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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. The directors 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr N Isaias
Director

Date approved: 26 April 2023
2
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 1,978    2,379 
Investment properties 4 580,692    580,692 
582,670    583,071 
Current assets      
Debtors 5 2,302    2,297 
Cash at bank and in hand 5,791    7,670 
8,093    9,967 
Creditors: amount falling due within one year 6 (482,573)   (478,534)
Net current liabilities (474,480)   (468,567)
 
Total assets less current liabilities 108,190    114,504 
Creditors: amount falling due after more than one year 7 (109,277)   (115,679)
Provisions for liabilities 8 (376)   (452)
Net liabilities (1,463)   (1,627)
 

Capital and reserves 		     
Called up share capital 306    306 
Profit and loss account (1,769)   (1,933)
Shareholder's funds (1,463)   (1,627)
 


For the year ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 April 2023 and were signed on its behalf by:


--------------------------------
Mr N Isaias
Director
3
General Information
ENL Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12094750, registration address 5 Sandy Court, Ashleigh Way, Plymouth, Devon, PL7 5JX.

The presentation currency is £ sterling.
1.

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.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation
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 year 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery 25% Reducing Balance
Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 August 2021 3,172    3,172 
Additions 259    259 
Disposals -    - 
At 31 July 2022 3,431    3,431 
Depreciation
At 01 August 2021 793    793 
Charge for year 660    660 
On disposals -    - 
At 31 July 2022 1,453    1,453 
Net book values
Closing balance as at 31 July 2022 1,978    1,978 
Opening balance as at 01 August 2021 2,379    2,379 


4.

Investment properties

Cost Other investments other than loans   Total
  £   £
At 01 August 2021 580,692    580,692 
Additions -    - 
Transfer to/from Tangible fixed assets -    - 
Disposals -    - 
At 31 July 2022 580,692    580,692 

5.

Debtors: amounts falling due within one year

2022
£		   2021
£
Prepayments & Accrued Income 120    115 
Other Debtors 2,182    2,182 
2,302    2,297 

6.

Creditors: amount falling due within one year

2022
£		   2021
£
Bank Loans & Overdrafts 6,480    7,020 
Other Creditors 476,093    471,514 
482,573    478,534 

7.

Creditors: amount falling due after more than one year

2022
£		   2021
£
Bank Loans & Overdrafts 109,277    115,679 
109,277    115,679 

8.

Provisions for liabilities

2022
£		   2021
£
Deferred Tax 376    452 
376    452 

9.

Secured debts

The following secured debts are included within creditors:
  2022
£		   2021
£
Bank loans 115,757  122,699 

The bank borrowings are secured by fixed charges dated 16 August 2019 and 30 August 2019 by Lloyds Bank plc over the freehold property held by the company.
10.

Controlling party

The directors are considered to be the controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.
4