Enigmar Property Limited - Period Ending 2017-03-31
Enigmar Property Limited - Period Ending 2017-03-31
Registration number:
Enigmar Property Limited
for the Period from 19 January 2016 to 31 March 2017
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Enigmar Property Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Enigmar Property Limited
Company Information
Director |
Mr Mark Anthony Clarkson |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Enigmar Property Limited
for the Period Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Enigmar Property Limited for the period ended 31 March 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Enigmar Property Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Enigmar Property Limited and state those matters that we have agreed to state to the Board of Directors of Enigmar Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Enigmar Property Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Enigmar Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Enigmar Property Limited. You consider that Enigmar Property Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Enigmar Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Fulwood
Preston
Lancashire
PR2 3LF
Page 2 |
Enigmar Property Limited
Statement of Comprehensive Income for the Period from 19 January 2016 to 31 March 2017
Note |
2017 |
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Loss for the period |
( |
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Total comprehensive income for the period |
( |
Page 3 |
Enigmar Property Limited
(Registration number: 09959516)
Balance Sheet as at 31 March 2017
Note |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr Mark Anthony Clarkson
Director
Page 4 |
Enigmar Property Limited
Statement of Changes in Equity for the Period from 19 January 2016 to 31 March 2017
Share capital |
Profit and loss account |
Total |
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Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 March 2017 |
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( |
( |
Page 5 |
Enigmar Property Limited
Notes to the Financial Statements for the Period from 19 January 2016 to 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
The principal place of business is:
Fern Villa
Preston Road
Ribchester
PR3 3YD
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Long leasehold property |
0% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 6 |
Enigmar Property Limited
Notes to the Financial Statements for the Period from 19 January 2016 to 31 March 2017
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
Enigmar Property Limited
Notes to the Financial Statements for the Period from 19 January 2016 to 31 March 2017
Tangible assets |
Land and buildings |
Other property, plant and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2017 |
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Depreciation |
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Charge for the |
- |
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At 31 March 2017 |
- |
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Carrying amount |
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At 31 March 2017 |
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Included within the net book value of land and buildings above is £71,065 in respect of long leasehold land and buildings.
Debtors |
2017 |
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Trade debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
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Due within one year |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Page 8 |
Enigmar Property Limited
Notes to the Financial Statements for the Period from 19 January 2016 to 31 March 2017
Loans and borrowings |
2017 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Bank borrowings
The HD Paragon mortgage is denominated in Sterling with an interest rate of 3.7%. The loans matures on 14 February 2019 and the carrying amount at the end of the period is £59,479. The company re-mortgaged the investment property at Pym Street to raise capital for additional purchases.
Other borrowings
Director's loan account with a carrying amount of £89,258 ( - £Nil) is denominated in Sterling with a nominal interest rate of 2.25%. The final instalment is due on 31 March 2019.
The director has loaned the company £89,258 at 2.25% per annum, no security has been pledged on such borrowings.
Dividends |
The director is proposing a final dividend of £Nil per share totalling £Nil. This dividend has not been accrued in the Balance Sheet.
Related party transactions |
Transactions with directors |
2017 |
Advances to directors |
Repayments by director |
Other payments made to company by director |
At 31 March 2017 |
Mr Mark Anthony Clarkson |
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Director's loan account |
( |
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993 |
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Directors' remuneration
The directors' remuneration for the period was as follows:
2017 |
Page 9 |