Enterprise Electrical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03162731 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

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

10,308

2,495

CURRENT ASSETS

Stocks

28,930

31,250

Debtors

5

219,776

247,264

Cash at bank

163,623

96,784

412,329

375,298

CREDITORS

Amounts falling due within one year

6

140,948

271,383

NET CURRENT ASSETS

271,381

103,915

TOTAL ASSETS LESS CURRENT LIABILITIES

281,689

106,410

CREDITORS

Amounts falling due after more than one year

7

41,667

-

NET ASSETS

240,022

106,410

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

240,020

106,408

SHAREHOLDERS' FUNDS

240,022

106,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2021 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

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 11 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2020

12,448

6,970

17,071

36,489

Additions

503

-

12,131

12,634

At 31 March 2021

12,951

6,970

29,202

49,123

DEPRECIATION

At 1 April 2020

10,042

6,918

17,034

33,994

Charge for year

727

13

4,081

4,821

At 31 March 2021

10,769

6,931

21,115

38,815

NET BOOK VALUE

At 31 March 2021

2,182

39

8,087

10,308

At 31 March 2020

2,406

52

37

2,495

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

130,202

171,495

Other debtors

89,574

75,769

219,776

247,264

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,333

-

Trade creditors

79,285

150,591

Taxation and social security

8,461

36,179

Other creditors

44,869

84,613

140,948

271,383

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

41,667

-

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr

1,667

-

8.	OTHER FINANCIAL COMMITMENTS

The company had total lease commitments at the end of the year of £6,700 (2020 - £10,529).