ENSEP Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08821433 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

ENSEP Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Certified Accountant's Report

6

DIRECTORS:

P A Thompson

B J Tuttiett

A A Irving

J G C Hackwell

C James

SECRETARY:

Mrs C J Tuttiett

REGISTERED OFFICE:

49 Trescobeas Road

Falmouth

Cornwall

TR11 2JF

REGISTERED NUMBER:

08821433 (England and Wales)

ACCOUNTANT:

Martin Laity Accounting & Tax Practitioner

Kelyn

Old Hill

Helston

Cornwall

TR13 8HT

FIXED ASSETS

Tangible assets

4

3,858

1,706

CURRENT ASSETS

Stocks

2,500

2,000

Debtors

5

42,108

10,427

Cash at bank

29,356

35,884

73,964

48,311

CREDITORS

Amounts falling due within one year

6

29,568

25,502

NET CURRENT ASSETS

44,396

22,809

TOTAL ASSETS LESS CURRENT LIABILITIES

48,254

24,515

PROVISIONS FOR LIABILITIES

733

328

NET ASSETS

47,521

24,187

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

47,421

24,087

SHAREHOLDERS' FUNDS

47,521

24,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 March 2019 and were signed on its behalf by:

B J Tuttiett - Director

A A Irving - Director

1.	STATUTORY INFORMATION

ENSEP Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net invoiced sales of goods and services, excluding value added tax.

Turnover is recognised upon invoice for goods and services, except in circumstances where the

company obtains the 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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2018

1,741

600

2,341

Additions

2,074

1,185

3,259

At 31 December 2018

3,815

1,785

5,600

DEPRECIATION

At 1 January 2018

435

200

635

Charge for year

845

262

1,107

At 31 December 2018

1,280

462

1,742

NET BOOK VALUE

At 31 December 2018

2,535

1,323

3,858

At 31 December 2017

1,306

400

1,706

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

39,892

7,496

Other debtors

2,216

2,931

42,108

10,427

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

937

4,970

Taxation and social security

8,288

4,501

Other creditors

20,343

16,031

29,568

25,502

Included within creditors is £19,743 owed to the directors as balances on their directors loan accounts.

These balances are unsecured and repayable upon demand.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There were no advances, credits or guarantees extended to the directors during the year.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval

the financial statements of ENSEP Limited for the year ended 31 December 2018 which comprise the Income

Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of ENSEP Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of ENSEP Limited and state those matters that I have agreed to state to the Board of Directors of ENSEP Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that ENSEP Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ENSEP Limited. You consider that ENSEP Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of ENSEP Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Martin Laity Accounting & Tax Practitioner

Kelyn

Old Hill

Helston

Cornwall

TR13 8HT

8 March 2019