Company Registration No. 02518365 (England and Wales)
ENTHEOS HOLDINGS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
ENTHEOS HOLDINGS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ENTHEOS HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
948,168
945,435
Investments
2
84,918
-
1,033,086
945,435
Current assets
Debtors
43,261
2,716
Investments
-
84,918
Cash at bank and in hand
25,555
55,701
68,816
143,335
Creditors: amounts falling due within one year
(92,315)
(68,986)
Net current (liabilities)/assets
(23,499)
74,349
Total assets less current liabilities
1,009,587
1,019,784
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
999,587
1,009,784
Shareholders' funds
1,009,587
1,019,784
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her 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 2 December 2016
C Wood
Director
Company Registration No. 02518365
ENTHEOS HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 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 January 2015).
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurance from the director that she will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
1.2
Turnover
Turnover represents rents receivable net of VAT and trade discounts.rents receivable net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold investment properties 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:
Freehold properties
Straight line over twenty-five years
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Current asset investments are stated at the lower of cost and net realisable value.
1.5
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.
1.6
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.
ENTHEOS HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 October 2015
1,039,084
-
1,039,084
Additions
20,240
84,918
105,158
At 30 September 2016
1,059,324
84,918
1,144,242
Depreciation
At 1 October 2015
93,649
-
93,649
Charge for the year
17,507
-
17,507
At 30 September 2016
111,156
-
111,156
Net book value
At 30 September 2016
948,168
84,918
1,033,086
At 30 September 2015
945,435
-
945,435
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Other significant interests
KV Plast GmbH
Germany
Ordinary
25.00
The investment in KV Plast GmbH is not treated as an associated undertaking since Entheos Holdings Limited does not exercise significant influence. As at 31 December 2015, the aggregate capital and reserves of KV Plast GmbH amounted to £403,529 (€547,431) and the profit for the year to 31 December 2015 was £18,844 (€25,564).
As at 31 December 2015, the aggregate capital and reserves of KV Plast GmbH amounted to £403,529 (€547,431) and the profit for the year to 31 December 2015 was £18,844 (€25,564).
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
4
Ultimate parent company
The company's ultimate parent undertaking is Entheos Newco 3 Limited.
