Enhance Developments Limited Company Accounts

ENHANCE DEVELOPMENTS LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-05-01 Sage Accounts Production Advanced 2017 Update 1 - FRS 126,405 126,405 126,405 xbrli:pure xbrli:shares iso4217:GBP 06216266 2016-05-01 2017-04-30 06216266 2017-04-30 06216266 2015-05-01 2016-04-30 06216266 2016-04-30 06216266 bus:Director1 2016-05-01 2017-04-30 06216266 core:LandBuildings 2016-05-01 2017-04-30 06216266 core:WithinOneYear 2017-04-30 06216266 core:WithinOneYear 2016-04-30 06216266 core:AfterOneYear 2017-04-30 06216266 core:ShareCapital 2017-04-30 06216266 core:ShareCapital 2016-04-30 06216266 core:RetainedEarningsAccumulatedLosses 2017-04-30 06216266 core:RetainedEarningsAccumulatedLosses 2016-04-30 06216266 core:LandBuildings 2017-04-30 06216266 bus:Director1 2016-04-30 06216266 bus:Director1 2017-04-30 06216266 bus:Director1 2015-04-30 06216266 bus:Director1 2016-04-30 06216266 bus:Director1 2015-05-01 2016-04-30 06216266 bus:FRS102 2016-05-01 2017-04-30 06216266 bus:AuditExemptWithAccountantsReport 2016-05-01 2017-04-30 06216266 bus:FullAccounts 2016-05-01 2017-04-30 06216266 bus:SmallCompaniesRegimeForAccounts 2016-05-01 2017-04-30 06216266 bus:PrivateLimitedCompanyLtd 2016-05-01 2017-04-30

COMPANY REGISTRATION NUMBER: 06216266

Enhance Developments Limited

Filleted Unaudited Financial Statements

for the year ended

30 April 2017

Enhance Developments Limited

Financial Statements

year ended 30 April 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Enhance Developments Limited

Statement of Financial Position

30 April 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		126,405	–

Current assets

Debtors	6	2,460	15,941
Cash at bank and in hand		6,352	3,476
		-------	--------
		8,812	19,417

Creditors: amounts falling due within one year	7	53,240		1,080
		--------		--------
Net current (liabilities)/assets			( 44,428)	18,337
			---------	--------
Total assets less current liabilities			81,977	18,337

Creditors: amounts falling due after more than one year	8	60,502	–
		--------	--------
Net assets		21,475	18,337
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	21,474	18,336
	--------	--------
Members funds	21,475	18,337
	--------	--------

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 statement of income and retained earnings has not been delivered.

For the year ending 30 April 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 .

Enhance Developments Limited

Statement of Financial Position (continued)

30 April 2017

These financial statements were approved by the board of directors and authorised for issue on 15 November 2017 , and are signed on behalf of the board by:

C Djevdet
Director

Company registration number: 06216266

Enhance Developments Limited

Notes to the Financial Statements

year ended 30 April 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 Wiston House, 1 Wiston Avenue, Worthing, West Sussex, BN14 7QL.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year, including the director, amounted to 1 (2016: 1 ).

5. Tangible assets

	Investment properties land and buildings
	£
Cost
Additions	126,405
	---------
At 30 April 2017	126,405
	---------
Depreciation
At 1 May 2016 and 30 Apr 2017	–
	---------
Carrying amount
At 30 April 2017	126,405
	---------
At 30 April 2016	–
	---------

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The investment property has been measured at fair value which is the open market value of the property. The fair value adjustment has been taken through the profit and loss account.

6. Debtors

	2017	2016
	£	£
Other debtors	2,460	15,941
	-------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	7,162	–
Corporation tax	383	–
Social security and other taxes	703	–
Other creditors	44,992	1,080
	--------	-------
	53,240	1,080
	--------	-------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Bank loans and overdrafts	60,502	–
	--------	----

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2017
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
C Djevdet	15,941	( 56,913)	( 40,972)
	--------	--------	--------

	2016
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
C Djevdet	37,941	( 22,000)	15,941
	--------	--------	--------

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.

No transitional adjustments were required in equity or profit or loss for the year.