S.L. Innocent Engineering Limited 31/10/2022 iXBRL

S.L. Innocent Engineering Limited 31/10/2022 iXBRL

S L INNOCENT ENGINEERING LIMITED - Company Information

Print Friendly Version

0 31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-11-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08895763 2021-11-01 2022-10-31 08895763 2022-10-31 08895763 2021-10-31 08895763 2020-11-01 2021-10-31 08895763 2021-10-31 08895763 2020-10-31 08895763 bus:Director1 2021-11-01 2022-10-31 08895763 bus:Director2 2021-11-01 2022-10-31 08895763 bus:Director3 2021-11-01 2022-10-31 08895763 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 08895763 core:WithinOneYear 2022-10-31 08895763 core:WithinOneYear 2021-10-31 08895763 core:ShareCapital 2022-10-31 08895763 core:ShareCapital 2021-10-31 08895763 core:RetainedEarningsAccumulatedLosses 2022-10-31 08895763 core:RetainedEarningsAccumulatedLosses 2021-10-31 08895763 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 08895763 core:Non-currentFinancialInstruments 2022-10-31 08895763 core:Non-currentFinancialInstruments 2021-10-31 08895763 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-31 08895763 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-31 08895763 core:LandBuildings core:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 08895763 bus:Director1 2021-10-31 08895763 bus:Director1 2022-10-31 08895763 bus:Director2 2021-10-31 08895763 bus:Director2 2022-10-31 08895763 bus:Director3 2021-10-31 08895763 bus:Director3 2022-10-31 08895763 bus:Director1 2020-10-31 08895763 bus:Director1 2021-10-31 08895763 bus:Director2 2020-10-31 08895763 bus:Director2 2021-10-31 08895763 bus:Director3 2020-10-31 08895763 bus:Director3 2021-10-31 08895763 bus:Director1 2020-11-01 2021-10-31 08895763 bus:Director2 2020-11-01 2021-10-31 08895763 bus:Director3 2020-11-01 2021-10-31 08895763 bus:SmallEntities 2021-11-01 2022-10-31 08895763 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 08895763 bus:FullAccounts 2021-11-01 2022-10-31 08895763 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 08895763 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 08895763 core:AssetRevaluationSurplusReserve 2022-10-31 08895763 core:AssetRevaluationSurplusReserve 2021-10-31
Company registration number: 08895763
S.L. Innocent Engineering Limited
Unaudited filleted financial statements
31 October 2022
S.L. Innocent Engineering Limited
Contents
Statement of financial position
Notes to the financial statements
S.L. Innocent Engineering Limited
Statement of financial position
31 October 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 4 950,000 435,000
Investments 5 10 10
_______ _______
950,010 435,010
Current assets
Debtors 6 462 2,129
Cash at bank and in hand 50,522 44,052
_______ _______
50,984 46,181
Creditors: amounts falling due
within one year 7 ( 372,420) ( 383,557)
_______ _______
Net current liabilities ( 321,436) ( 337,376)
_______ _______
Total assets less current liabilities 628,574 97,634
Provisions for liabilities ( 103,194) -
_______ _______
Net assets 525,380 97,634
_______ _______
Capital and reserves
Called up share capital 100 100
Other reserves 471,806 60,000
Profit and loss account 53,474 37,534
_______ _______
Shareholders funds 525,380 97,634
_______ _______
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 Section 1A of 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 30 March 2023 , and are signed on behalf of the board by:
Matt L. Innocent Howard Innocent
Director Director
J. L. Innocent
Director
Company registration number: 08895763
S.L. Innocent Engineering Limited
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 169, New London Road, Chelmsford, CM2 0AE.
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 in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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 rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the statement of comprehensive income.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivables and payables.Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other considerations expected to be paid or received.
4. Tangible assets
Freehold property
£
Cost or valuation
At 1 November 2021 435,000
Revaluation 515,000
_______
At 31 October 2022 950,000
_______
Depreciation
At 1 November 2021 and 31 October 2022 -
_______
Carrying amount
At 31 October 2022 950,000
_______
At 31 October 2021 435,000
_______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 November 2021 435,000
Fair value adjustments 515,000
_______
At 31 October 2022 950,000
_______
5. Investments
Shares in group undertakings
£
Cost
At 1 November 2021 and 31 October 2022 10
_______
Impairment
At 1 November 2021 and 31 October 2022 -
_______
Carrying amount
At 31 October 2022 10
_______
At 31 October 2021 10
_______
6. Debtors
2022 2021
£ £
Other debtors 462 2,129
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Amounts owed to group undertakings 10 10
Corporation tax 10,780 19,785
Other creditors 361,630 363,762
_______ _______
372,420 383,557
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
H. F. S. Innocent ( 165,648) ( 4,600) 6,115 ( 164,133)
M. L. Innocent ( 165,888) ( 4,600) 3,569 ( 166,919)
J. L. Innocent ( 30,377) - 1,697 ( 28,680)
_______ _______ _______ _______
( 361,913) ( 9,200) 11,381 ( 359,732)
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
H. F. S. Innocent ( 164,338) ( 4,300) 2,990 ( 165,648)
M. L. Innocent ( 170,134) ( 2,300) 6,546 ( 165,888)
J. L. Innocent ( 28,680) ( 4,817) 3,120 ( 30,377)
_______ _______ _______ _______
( 363,152) ( 11,417) 12,656 ( 361,913)
_______ _______ _______ _______
9. Controlling party
There are no controlling parties.