Enea Polyhedra Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02432735 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2021

for

Enea Polyhedra Limited

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

J Haglund

O Burmark

REGISTERED OFFICE:

75 Springfield Road

Chelmsford

Essex

CM2 6JB

REGISTERED NUMBER:

02432735 (England and Wales)

AUDITORS:

NSO Associates LLP

Statutory Auditors

75 Springfield Road

Chelmsford

Essex

CM2 6JB

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the development of new computer software and the provision of support for existing products.

DIRECTORS

J Haglund has held office during the whole of the period from 1 January 2021 to the date of this report.

Other changes in directors holding office are as follows:

B Westberg - resigned 31 October 2021

O Burmark was appointed as a director after 31 December 2021 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J Haglund - Director

22 June 2022

FIXED ASSETS

4,756

Tangible assets

4

4,153

CURRENT ASSETS

39,314

Debtors

5

11,988

438,004

Cash at bank

629,629

477,318

641,617

CREDITORS

14,336

Amounts falling due within one year

6

151,901

462,982

NET CURRENT ASSETS

489,716

467,738

TOTAL ASSETS LESS CURRENT LIABILITIES

493,869

CAPITAL AND RESERVES

273,091

Called up share capital

273,091

19,212

Share premium

19,212

175,435

Retained earnings

201,566

467,738

SHAREHOLDERS' FUNDS

493,869

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 22 June 2022 and were signed on its behalf by:

J Haglund - Director

O Burmark - Director

1.	STATUTORY INFORMATION

Enea Polyhedra 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

The turnover represents sales and expenses recharged during the year, exclusive of Value Added Tax.

Tangible fixed assets

Short leasehold, Plant and machinery are carried at cost less accumulated depreciation and accumulated impairment losses.

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

Short leasehold - over the lease term

Plant and machinery - 25% on cost

Government grants

Government grants are accounted for on an accruals basis.

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

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.

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the discounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Totals

leasehold

machinery

£

£

£

COST

At 1 January 2021

72,974

3,476

69,498

Additions

2,458

-

2,458

At 31 December 2021

75,432

3,476

71,956

DEPRECIATION

At 1 January 2021

68,218

3,476

64,742

Charge for year

3,061

-

3,061

At 31 December 2021

71,279

3,476

67,803

NET BOOK VALUE

At 31 December 2021

4,153

-

4,153

At 31 December 2020

4,756

-

4,756

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed by group undertakings

6,334

33,295

Other debtors

5,654

6,019

11,988

39,314

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

3,526

2,915

Amounts owed to group undertakings

133,040

-

Taxation and social security

9,118

9,027

Other creditors

6,217

2,394

151,901

14,336

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.21

31.12.20

£

£

Within one year

11,816

11,816

Between one and five years

47,264

11,816

In more than five years

130,961

-

190,041

23,632

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

The Report of the Auditors was unqualified.

Mr Ian George Neale FCCA (Senior Statutory Auditor)

for and on behalf of NSO Associates LLP

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Enea AB.

A company incorporated in Sweden, and quoted on the Swedish stock exchange.