Enterprise Electrical Services Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03162731 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Enterprise Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G M Duffy

Mrs A R Duffy

SECRETARY:

Mrs A R Duffy

REGISTERED OFFICE:

Unit 7

129 Western Road

Birmingham

West Midlands

B18 7QD

REGISTERED NUMBER:

03162731 (England and Wales)

ACCOUNTANTS:

Pinfields Limited

Chartered Accountants

Meryll House

57 Worcester Road

Bromsgrove

Worcestershire

B61 7DN

FIXED ASSETS

Tangible assets

4

9,280

10,308

CURRENT ASSETS

Stocks

12,260

28,930

Debtors

5

209,476

219,776

Cash at bank

202,492

163,623

424,228

412,329

CREDITORS

Amounts falling due within one year

6

161,954

140,948

NET CURRENT ASSETS

262,274

271,381

TOTAL ASSETS LESS CURRENT LIABILITIES

271,554

281,689

CREDITORS

Amounts falling due after more than one year

7

(32,370

)

(41,667

)

PROVISIONS FOR LIABILITIES

8

(1,974

)

-

NET ASSETS

237,210

240,022

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

237,208

240,020

SHAREHOLDERS' FUNDS

237,210

240,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2022 and were signed on its behalf by:

G M Duffy - Director

1.	STATUTORY INFORMATION

Enterprise Electrical Services 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 (£).

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.

Going Concern

The accounts have been prepared on the assumption that the company is able to carry on business as a

going concern, which the directors considers is appropriate.

The COVID-19 pandemic and the ensuing government lockdown on 23 March 2020 has affected the post year end turnover, profitability and cashflow of the business.

The directors are confident that additional actions they have taken mean that the company is able to continue as a going concern. Actions include the claiming of the Coronavirus Job Retention Scheme Grants.

The company has also taken out a Bounce Back Loan of £50,000.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

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 Statement of Income and Retained Earnings, 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 8 (2021 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

12,951

6,970

29,202

49,123

Additions

239

-

4,069

4,308

At 31 March 2022

13,190

6,970

33,271

53,431

DEPRECIATION

At 1 April 2021

10,769

6,931

21,115

38,815

Charge for year

599

10

4,727

5,336

At 31 March 2022

11,368

6,941

25,842

44,151

NET BOOK VALUE

At 31 March 2022

1,822

29

7,429

9,280

At 31 March 2021

2,182

39

8,087

10,308

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

138,136

130,202

Other debtors

65,000

77,000

VAT

-

6,305

Prepayments

6,340

6,269

209,476

219,776

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

9,707

8,333

Trade creditors

51,435

79,285

Tax

477

9

Social security and other taxes

13,719

8,452

VAT

10,900

-

Other creditors

1,379

494

Directors' current accounts

70,652

41,125

Accrued expenses

3,685

3,250

161,954

140,948

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 1-2 years

9,953

10,000

Bank loans - 2-5 years

22,417

30,000

Bank loans more 5 yr

-

1,667

32,370

41,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr

-

1,667

8.	PROVISIONS FOR LIABILITIES

31.3.22

31.3.21

£

£

Deferred tax

Accelerated capital allowances

1,974

7,337

Tax losses carried forward

-

(7,337

)

1,974

-

Deferred

tax

£

Accelerated capital allowances

1,974

Balance at 31 March 2022

1,974

9.	OTHER FINANCIAL COMMITMENTS

The company had total lease commitments at the end of the year of £71,140 (2021 - £6,700).