Ensigna Construction Limited 31/03/2019 iXBRL

ENSIGNA CONSTRUCTION LIMITED - Company Information

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Company registration number: 5771179

Ensigna Construction Limited

Unaudited filleted financial statements

31 March 2019

Ensigna Construction Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Ensigna Construction Limited

Directors and other information


	Director	Mr Steve Wells


	Company number	5771179


	Registered office	37-39B Freelands Road
		Bromley
		Kent
		BR1 3HZ


	Business address	37-39B
		Freelands Road
		Bromley
		Kent
		BR1 3HZ


	Accountants	Lindley & Co
		17 Millbrook Drive
		Shenstone
		Lichfield
		Staffs
		WS14 0JL




	Bankers	HSBC
		54 Clarence Street
		Kingston Upon Thames
		Surrey

Ensigna Construction Limited

Report to the director on the preparation of the

unaudited statutory financial statements of Ensigna Construction Limited

Year ended 31 March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ensigna Construction Limited for the year ended 31 March 2019 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the director of Ensigna Construction 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 financial statements of Ensigna Construction Limited and state those matters that we have agreed to state to them, 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ensigna Construction Limited and its director as a body for our work or for this report.

It is your duty to ensure that Ensigna Construction 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 Ensigna Construction Limited. You consider that Ensigna Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ensigna Construction 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 financial statements.

Lindley & Co

Chartered Certified Accountants

17 Millbrook Drive

Shenstone

Lichfield

Staffs

WS14 0JL

19 November 2019

Ensigna Construction Limited

Statement of financial position

31 March 2019

		2019		2018
	Note	£	£	£	£

Fixed assets
Tangible assets	5	239,181		150,373
		_______		_______
			239,181		150,373

Current assets
Stocks		166,593		147,631
Debtors	6	2,096,845		1,187,967
Cash at bank and in hand		925,203		1,211,711
		_______		_______
		3,188,641		2,547,309
Creditors: amounts falling due
within one year	7	( 1,696,999)		( 879,086)
		_______		_______
Net current assets			1,491,642		1,668,223
			_______		_______
Total assets less current liabilities			1,730,823		1,818,596


Provisions for liabilities			( 42,549)		( 25,425)

			_______		_______
Net assets			1,688,274		1,793,171
			_______		_______

Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			1,678,274		1,783,171
			_______		_______
Shareholder funds			1,688,274		1,793,171
			_______		_______

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 19 November 2019 , and are signed on behalf of the board by:

Mr Steve Wells

Director

Company registration number: 5771179

Ensigna Construction Limited

Statement of changes in equity

Year ended 31 March 2019

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2017	10,000	1,619,589	1,629,589

Profit for the year		515,582	515,582
	_______	_______	_______
Total comprehensive income for the year	-	515,582	515,582

Dividends paid and payable		( 352,000)	( 352,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 352,000)	( 352,000)

	_______	_______	_______
At 31 March 2018 and 1 April 2018	10,000	1,783,171	1,793,171

Profit for the year		345,103	345,103
	_______	_______	_______
Total comprehensive income for the year	-	345,103	345,103

Dividends paid and payable		( 450,000)	( 450,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 450,000)	( 450,000)

	_______	_______	_______
At 31 March 2019	10,000	1,678,274	1,688,274
	_______	_______	_______

Ensigna Construction Limited

Notes to the financial statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 37-39B Freelands Road, Bromley, Kent, BR1 3HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2018: 12 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2018	10,535	29,331	236,744	276,610
Additions	-	-	143,094	143,094
Disposals	-	-	( 23,687)	( 23,687)
	_______	_______	_______	_______
At 31 March 2019	10,535	29,331	356,151	396,017
	_______	_______	_______	_______
Depreciation
At 1 April 2018	10,535	25,677	90,025	126,237
Charge for the year	-	1,172	48,118	49,290
Disposals	-	-	( 18,691)	( 18,691)
	_______	_______	_______	_______
At 31 March 2019	10,535	26,849	119,452	156,836
	_______	_______	_______	_______
Carrying amount
At 31 March 2019	-	2,482	236,699	239,181
	_______	_______	_______	_______
At 31 March 2018	-	3,654	146,719	150,373
	_______	_______	_______	_______

6. Debtors

	2019	2018
	£	£
Trade debtors	2,045,002	1,154,003
Other debtors	51,843	33,964
	_______	_______
	2,096,845	1,187,967
	_______	_______

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	979,404	320,941
Corporation tax	99,242	147,659
Social security and other taxes	324,663	169,400
Other creditors	293,690	241,086
	_______	_______
	1,696,999	879,086
	_______	_______

8. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2019
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Steve Wells	( 550)	225,000	( 224,000)	450
		_______	_______	_______	_______

2018
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Steve Wells	( 4,185)	176,000	( 172,365)	( 550)
		_______	_______	_______	_______

9. Controlling party

The company is under the control of Mr S Wells and Mrs M Wells who togther control 100% of the issued share capital.