Ensto UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01453043 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018

FOR

ENSTO UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M Wederhorn

Mr M J Aarttila

SECRETARY:

Mr M J Aarttila

REGISTERED OFFICE:

Unit 6, Zeus House

Provost Street

London

N1 7NG

REGISTERED NUMBER:

01453043 (England and Wales)

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

FIXED ASSETS

Tangible assets

5

-

1,573

CURRENT ASSETS

Stocks

2,134

3,197

Debtors

6

151,218

284,924

Cash at bank and in hand

500,929

505,701

654,281

793,822

CREDITORS

Amounts falling due within one year

7

67,324

116,689

NET CURRENT ASSETS

586,957

677,133

TOTAL ASSETS LESS CURRENT LIABILITIES

586,957

678,706

CAPITAL AND RESERVES

Called up share capital

8

650,000

650,000

Capital contribution reserve

2,734,000

2,734,000

Retained earnings

(2,797,043

)

(2,705,294

)

SHAREHOLDERS' FUNDS

586,957

678,706

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 20th February 2019 and were signed on its behalf by:

Mr M J Aarttila - Director

1.	STATUTORY INFORMATION

Ensto UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's principal place of business is the same as the registered office.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

over 2 to 4 years

Computer equipment

-

33% straight line

All fixed assets are initially recorded at 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 balance sheet date.

Deferred tax

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company contributes to defined contribution pension schemes. Contributions payable to the pension

schemes are charged to the income statement in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2018

15,718

10,389

26,107

Disposals

(15,718

)

(1,322

)

(17,040

)

At 31st December 2018

-

9,067

9,067

DEPRECIATION

At 1st January 2018

15,718

8,816

24,534

Charge for year

-

1,573

1,573

Eliminated on disposal

(15,718

)

(1,322

)

(17,040

)

At 31st December 2018

-

9,067

9,067

NET BOOK VALUE

At 31st December 2018

-

-

-

At 31st December 2017

-

1,573

1,573

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

119,228

257,534

Amounts owed by group undertakings

4,138

-

Other debtors

27,852

27,390

151,218

284,924

Included in other debtors is £27,167 (2017: £27,390) in relation to prepayments and accrued income.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

6,831

11,773

Amounts owed to group undertakings

-

18,566

Taxation and social security

34,334

56,111

Other creditors

26,159

30,239

67,324

116,689

Included in other creditors is £24,007 (2017: £27,480) in relation to accruals and deferred income.

A parent company, Ensto OY, provides a guarantee of £100,000 (2017: £100,000) for the company's funding

facility.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

650,000

Ordinary

£1

650,000

650,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ross Garfitt (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

10.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £82,087 (2017: £90,487).

This amount is in relation to operating lease commitments which are payable over the next 1 to 3 years.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section

1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within

the group or where transactions have been undertaken under normal market conditions.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are members of the Miettinen family.

The ultimate parent company is Ensto Invest Oy (incorporated in Finland) which has prepared consolidated

financial statements for the year ended 31st December 2018.

The registered office of Ensto Invest Oy is Ludviginkatu 3-5 A, 00130 Helsinki.