Enabling Technologies Limited Company Accounts

Enabling Technologies Limited Company Accounts

ENABLING TECHNOLOGIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06084973
ENABLING TECHNOLOGIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2017
ENABLING TECHNOLOGIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2017
Contents
Page
Balance sheet 1
Notes to the financial statements 2
ENABLING TECHNOLOGIES LIMITED
BALANCE SHEET
28 February 2017
2017
2016
Note
£
£
Fixed assets
Tangible assets
5
5,106
3,304
Current assets
Stocks
6
23,260
20,724
Debtors
7
97,644
119,361
Cash at bank and in hand
26,069
57,415
------------
------------
146,973
197,500
Creditors: amounts falling due within one year
8
( 64,182)
( 106,609)
------------
------------
Net current assets
82,791
90,891
------------
------------
Total assets less current liabilities
87,897
94,195
------------
------------
Net assets
87,897
94,195
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
87,797
94,095
------------
------------
Members funds
87,897
94,195
------------
------------
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 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 profit and loss account has not been delivered.
For the year ending 28 February 2017 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 November 2017 , and are signed on behalf of the board by:
C St John Cordingley
Director
Company registration number: 06084973
ENABLING TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
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 the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The turnover is derived from the company's principal activity which was carried out wholly within the United Kingdom.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Computer equipment
-
33 % straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2016: 6 ).
5. Tangible assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 March 2016
2,149
4,204
6,353
Additions
–
4,801
4,801
------------
------------
------------
At 28 February 2017
2,149
9,005
11,154
------------
------------
------------
Depreciation
At 1 March 2016
1,049
2,000
3,049
Charge for the year
220
2,779
2,999
------------
------------
------------
At 28 February 2017
1,269
4,779
6,048
------------
------------
------------
Carrying amount
At 28 February 2017
880
4,226
5,106
------------
------------
------------
At 29 February 2016
1,100
2,204
3,304
------------
------------
------------
6. Stocks
2017
2016
£
£
Stock of parts
6,465
7,951
Work in progress
16,795
12,773
------------
------------
23,260
20,724
------------
------------
7. Debtors
2017
2016
£
£
Trade debtors
90,401
113,819
Corporation tax recoverable
7,243
2,052
Amount owed by related undertaking (note 12)
–
3,490
------------
------------
97,644
119,361
------------
------------
8. Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
42,915
64,942
Amount owed to related undertaking (note 12)
3,742
–
Accruals and deferred income
1,900
1,900
Social security and other taxes
13,616
27,866
Director's loan account (note 12)
395
191
Other creditors
1,614
11,710
------------
------------
64,182
106,609
------------
------------
9. Called up share capital
Issued, called up and fully paid
2017
2016
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Related party transactions
The director's loan account of £395 (2016: £191) at note 10 above is unsecured, repayable on demand and currently interest free. At 28 February 2017 a balance of £3,742 (2016: £3,490, debtor) was owed to Tellima Technology Limited. Both Enabling Technologies Limited and Tellima Technology Limited are controlled by the director, C St John Cordingley .
11. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.
No transitional adjustments were required in equity or profit or loss for the year.