Enpal Limited - Period Ending 2022-12-31
Enpal Limited - Period Ending 2022-12-31
Company registration number:
for the Year Ended
Enpal Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Enpal Limited
(Registration number: 09003242)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Other reserves |
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Profit and loss account |
( |
( |
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Total equity |
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For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Enpal Limited
Statement of Changes in Equity
for the Year Ended 31 December 2022
Ordinary share capital |
Share premium |
Other reserves |
Profit and loss reserve |
Total |
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At 1 January 2022 |
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( |
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Movement in year : |
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Loss for the year |
- |
- |
- |
( |
( |
Share based payment transactions |
- |
- |
(33,699) |
- |
(33,699) |
Total comprehensive income |
- |
- |
( |
( |
( |
At 31 December 2022 |
172 |
1,871,787 |
43,039 |
(28,319) |
1,886,679 |
Ordinary share capital |
Share premium |
Other reserves |
Profit and loss reserve |
Total |
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At 1 January 2021 |
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Movement in year : |
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Profit for the year |
- |
- |
- |
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Share based payment transactions |
- |
- |
38,111 |
- |
38,111 |
Total comprehensive income |
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- |
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Dividends |
- |
- |
- |
( |
( |
New share capital subscribed |
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- |
- |
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Total movement for the year |
37 |
1,741,812 |
38,111 |
(7,407) |
1,772,553 |
At 31 December 2021 |
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( |
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Enpal Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Going concern
The directors have considered the future resources available to the company to meet its liabilities for the twelve months from signing of the accounts and consider the company to be a going concern.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intellectual property |
20% straight line |
Enpal Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less provision for impairment.
A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Share premium account includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.
Profit and loss account includes all current and prior period profits and losses.
Other reserves relate to share options for the benefit of employees in Guru Systems Limited.
Enpal Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Share based payments
Where share options are awarded to employees of the subsidiary company, the fair value of the options at the date of grant is included in the Balance Sheet as an increase in investments over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Balance Sheet date so that, ultimately, the cumulative amount recognised as an investment over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to investments over the remaining vesting period.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Intangible assets |
Intellectual property |
Total |
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Cost or valuation |
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At 1 January 2022 |
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At 31 December 2022 |
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Amortisation |
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At 1 January 2022 |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
- |
- |
Enpal Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2022 |
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Adjustment in relation to share options issued to employees of the company's subsidiary |
( |
At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Debtors |
2022 |
2021 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Trade creditors |
- |
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Other creditors |
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Related party transactions |
Summary of transactions with all subsidiaries
Enpal Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
Non adjusting events after the financial period |
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