Encon Air Systems Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02063860 (England and Wales)

ENCON AIR SYSTEMS LTD

Unaudited Financial Statements

for the Year Ended 31 October 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Director:

Mr M D Dawson

Registered office:

31 Quarry Park Close

Charter Gate

Moulton Park Industrial Estate

Northampton

Northamptonshire

NN3 6QB

Registered number:

02063860 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Tangible assets

4

44,863

30,834

CURRENT ASSETS

Stocks

500

500

Debtors

5

254,055

154,106

Cash at bank

1,211,972

1,069,111

1,466,527

1,223,717

CREDITORS

Amounts falling due within one year

6

835,548

708,602

NET CURRENT ASSETS

630,979

515,115

TOTAL ASSETS LESS CURRENT LIABILITIES

675,842

545,949

CAPITAL AND RESERVES

Called up share capital

100

10

Other reserves

990

990

Retained earnings

674,752

544,949

SHAREHOLDERS' FUNDS

675,842

545,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 December 2023 and were signed by:

Mr M D Dawson - Director

1.	STATUTORY INFORMATION

Encon Air Systems Ltd 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.

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.

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 etc

-

25% on reducing balance and 20% on reducing balance

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 November 2022

118,134

Additions

26,198

At 31 October 2023

144,332

Depreciation

At 1 November 2022

87,300

Charge for year

12,169

At 31 October 2023

99,469

Net book value

At 31 October 2023

44,863

At 31 October 2022

30,834

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

239,538

142,612

Other debtors

14,517

11,494

254,055

154,106

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

613,673

543,040

Taxation and social security

119,193

90,130

Other creditors

102,682

75,432

835,548

708,602