Enzo's Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08002846 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

ENZO'S HOMES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr F Sauro

REGISTERED OFFICE:

24 Lammas Street

Carmarthen

Carmarthenshire

SA31 3AL

REGISTERED NUMBER:

08002846 (England and Wales)

ACCOUNTANTS:

Clay Shaw Butler

Chartered Accountants

24 Lammas Street

Carmarthen

Carmarthenshire

SA31 3AL

FIXED ASSETS

Tangible assets

4

569,236

585,902

CURRENT ASSETS

Stocks

310,584

5,628,834

Debtors

1,064,102

82,922

Cash at bank and in hand

328,559

306,120

1,703,245

6,017,876

CREDITORS

Amounts falling due within one year

1,661,466

6,284,798

NET CURRENT ASSETS/(LIABILITIES)

41,779

(266,922

)

TOTAL ASSETS LESS CURRENT LIABILITIES

611,015

318,980

CREDITORS

Amounts falling due after more than one year

(128,758

)

(168,397

)

PROVISIONS FOR LIABILITIES

(99,513

)

(98,680

)

NET ASSETS

382,744

51,903

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

382,724

51,883

SHAREHOLDERS' FUNDS

382,744

51,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2 November 2018 and were signed by:

Mr F Sauro - Director

1.	STATUTORY INFORMATION

Enzo's Homes Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements for the year ended 31 March 2017 are the first financial statements which comply with

Financial Reporting Standard 102. The date of the transition is 1 April 2015.

The transition to Financial Reporting Standard 102 has resulted in no changes to the existing accounting policies

which can be seen in the following notes and no adjustments to the comparatives were considered necessary in

respect of the transition.

The particular accounting policies adopted, which have been applied consistently throughout the current and

prior period, are described below.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

806,624

Additions

248,018

Disposals

(170,772

)

At 31 March 2018

883,870

DEPRECIATION

At 1 April 2017

220,722

Charge for year

169,104

Eliminated on disposal

(75,192

)

At 31 March 2018

314,634

NET BOOK VALUE

At 31 March 2018

569,236

At 31 March 2017

585,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2017

675,827

Additions

218,179

Disposals

(164,629

)

At 31 March 2018

729,377

DEPRECIATION

At 1 April 2017

189,010

Charge for year

139,759

Eliminated on disposal

(72,508

)

At 31 March 2018

256,261

NET BOOK VALUE

At 31 March 2018

473,116

At 31 March 2017

486,817

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Other loans

-

1,872,181

Hire purchase contracts

303,272

359,205

303,272

2,231,386

National Westminster Bank PLC hold legal charges dated 12th August 2015 to cover all monies due pursuant to

a finance agreement between the lender and the company. This legal charge contains a fixed charge and floating

charge over all the property or undertaking of the company. The charges also cover all Plots 18,19 and 21

Cysgod Y Gors, and 1-2 Lys Anron, Black Lion Road, Gorslas, Carmarthenshire and land and premises at

Ponthir Road, Caerleon, Newport.

The hire purchase liabilities are secured against the assets to which they relate.

6.	RELATED PARTY DISCLOSURES