Company Registration No. 05550728 (England and Wales)
ENTHEOS ENTERPRISE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
ENTHEOS ENTERPRISE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ENTHEOS ENTERPRISE LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,017
20,322
Current assets
Stocks
55,834
55,713
Debtors
3
222,600
198,701
Cash at bank and in hand
658,373
730,218
936,807
984,632
Creditors: amounts falling due within one year
(139,105)
(148,579)
Net current assets
797,702
836,053
Total assets less current liabilities
814,719
856,375
814,719
856,375
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
814,619
856,275
Shareholders' funds
814,719
856,375
For the financial year ended 30 June 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 October 2015
G R Wood
Director
Company Registration No. 05550728
ENTHEOS ENTERPRISE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
20% reducing balance
Motor vehicles
25% reducing balance
1.4
Stock
Stock is valued at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation and, where appropriate, the cost of conversion from their existing state to a finished condition. Provision is made where necessary for obsolescent, slow moving and damaged stock.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for timing differences arising on revaluations of fixed assets which are not intended to be sold, gains on disposals of fixed assets which will be rolled over into replacement assets and earnings of overseas subsidiaries that are not intended to be remitted to the UK. No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.8
The company has created a trust whose beneficiaries will include employees of the company and their dependants. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion. Where assets are held in the trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the company's profit and loss account for the year to which it relates. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.
Where assets are held in the trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the company's profit and loss account for the year to which it relates.
ENTHEOS ENTERPRISE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2014
36,830
Additions
1,910
At 30 June 2015
38,740
Depreciation
At 1 July 2014
16,508
Charge for the year
5,215
At 30 June 2015
21,723
Net book value
At 30 June 2015
17,017
At 30 June 2014
20,322
3
Debtors
Debtors include an amount of £1,408 (2014 - £1,166) which is due after more than one year.
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
