Enable International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03959037 (England and Wales)

ENABLE INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A W Butt

D M Hunt

D C Shortt

REGISTERED OFFICE:

10-12 The Courtyard

Timothy's Bridge Road

Stratford Enterprise Park

Stratford upon Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

03959037 (England and Wales)

ACCOUNTANTS:

Murphy Salisbury Limited

Chartered Accountants

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Intangible assets

4

538,180

231,795

Tangible assets

5

1,744,193

1,633,583

Investments

6

45

45

2,282,418

1,865,423

CURRENT ASSETS

Debtors

7

1,664,374

1,430,035

Cash at bank and in hand

160,631

282,753

1,825,005

1,712,788

CREDITORS

Amounts falling due within one year

8

1,469,217

1,402,497

NET CURRENT ASSETS

355,788

310,291

TOTAL ASSETS LESS CURRENT LIABILITIES

2,638,206

2,175,714

CREDITORS

Amounts falling due after more than one year

9

(1,339,847

)

(935,237

)

PROVISIONS FOR LIABILITIES

11

(101,118

)

(91,500

)

NET ASSETS

1,197,241

1,148,977

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

12

230,419

230,419

Retained earnings

966,722

918,458

1,197,241

1,148,977

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 17 September 2019 and were signed on its behalf by:

A W Butt - Director

1.	STATUTORY INFORMATION

Enable International 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 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 as modified by the revaluation of certain assets.

Turnover

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

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

The Domain name is being amortised over its useful life of ten years after taking account of its residual value.

Development costs relate to the advancement of products for re-sale and have been amortised over their the

estimated life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

For the fixed asset category of freehold property the directors have adopted a policy of revaluing the property

each year. Any revaluations are recognised in other comprehensive income and accumulated in equity.

Investments in subsidiaries

Investments in subsidiary undertakings are included at cost less write down for diminution in value.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2017 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Domain

costs

Name

Totals

£

£

£

COST

At 1 January 2018

220,615

11,180

231,795

Additions

350,508

-

350,508

At 31 December 2018

571,123

11,180

582,303

AMORTISATION

Amortisation for year

44,123

-

44,123

At 31 December 2018

44,123

-

44,123

NET BOOK VALUE

At 31 December 2018

527,000

11,180

538,180

At 31 December 2017

220,615

11,180

231,795

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2018

1,100,000

312,230

263,749

349,659

2,025,638

Additions

-

82,961

-

117,100

200,061

At 31 December 2018

1,100,000

395,191

263,749

466,759

2,225,699

DEPRECIATION

At 1 January 2018

-

117,577

30,291

244,187

392,055

Charge for year

-

29,198

33,888

26,365

89,451

At 31 December 2018

-

146,775

64,179

270,552

481,506

NET BOOK VALUE

At 31 December 2018

1,100,000

248,416

199,570

196,207

1,744,193

At 31 December 2017

1,100,000

194,653

233,458

105,472

1,633,583

Freehold property was valued on a fair value basis by Simon Allen & Associates Chartered Surveyors in

December 2016. The directors believe that the value at 31 December 2018 is not materially different to the value

in December 2016.

Deferred tax has been recognised on all revaluations of freehold property at the prevailing rate of tax.

Cost or valuation at 31 December 2018 is represented by:

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2016

253,514

-

-

-

253,514

Cost

846,486

395,191

263,749

466,759

1,972,185

1,100,000

395,191

263,749

466,759

2,225,699

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

45

NET BOOK VALUE

At 31 December 2018

45

At 31 December 2017

45

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,502,849

1,192,096

Amounts owed by group undertakings

72,043

146,278

Other debtors

89,482

91,661

1,664,374

1,430,035

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

110,668

246,540

Hire purchase contracts

29,830

31,719

Trade creditors

192,595

182,570

Amounts owed to group undertakings

-

9

Taxation and social security

197,304

228,049

Other creditors

938,820

713,610

1,469,217

1,402,497

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

887,829

773,497

Hire purchase contracts

132,574

161,740

Other creditors

319,444

-

1,339,847

935,237

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

470,157

530,825

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

185,872

Bank loans

998,497

834,165

998,497

1,020,037

Barclays Bank PLC has a fixed and floating charge over the company's assets.

11.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

101,118

91,500

Deferred

tax

£

Balance at 1 January 2018

91,500

Accelerated capital allowances

9,618

Freehold property revaluation

Balance at 31 December 2018

101,118

12.

RESERVES

Non-distributable

reserve

£

At 1 January 2018

and 31 December 2018

230,419

13.	FINANCIAL COMMITMENTS

The total of future minimum lease payments under non-cancellable operating leases as at 31 December 2018 was

£73,392 (2017: £95,903).