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Registration number: 09871211

Enro Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2018

 

Enro Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Enro Holdings Limited

Company Information

Directors

Mr B Rose

Ms L Viggers

Mr P Barrett

Mr C Shearer

Registered office

8 Old Town Hall Apartments
19 Spa Road
London
SE16 3SA

 

Enro Holdings Limited

(Registration number: 09871211)
Balance Sheet as at 30 June 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

1,141

889

Investments

5

443,329

200

 

444,470

1,089

Current assets

 

Debtors

6

104,014

309,944

Cash at bank and in hand

 

12,348

14,279

 

116,362

324,223

Creditors: Amounts falling due within one year

7

(16,840)

(43,325)

Net current assets

 

99,522

280,898

Net assets

 

543,992

281,987

Capital and reserves

 

Called up share capital

132

120

Share premium reserve

620,237

342,750

Profit and loss account

(76,377)

(60,883)

Total equity

 

543,992

281,987

For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 December 2018 and signed on its behalf by:
 

.........................................

Mr C Shearer
Director

 

Enro Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Old Town Hall Apartments
19 Spa Road
London
SE16 3SA

These financial statements were authorised for issue by the Board on 17 December 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33%

 

Enro Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2017 - 5).

 

Enro Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2017

1,082

1,082

Additions

847

847

At 30 June 2018

1,929

1,929

Depreciation

At 1 July 2017

193

193

Charge for the year

595

595

At 30 June 2018

788

788

Carrying amount

At 30 June 2018

1,141

1,141

At 30 June 2017

889

889

5

Investments

2018
£

2017
£

Investments in subsidiaries

443,329

200

Subsidiaries

£

Cost or valuation

At 1 July 2017

200

Additions

443,129

At 30 June 2018

443,329

Provision

Carrying amount

At 30 June 2018

443,329

At 30 June 2017

200

The investment in Enro Ltd increased during the year ended 30 June 2018 due to amounts advanced as a loan being converted to a capital contribution (within P&L reserve).

 

Enro Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2018

2017

Subsidiary undertakings

Enro Limited

8 Old Town Hall Apartments
19 Spa Road
London
SE16 3SA

Ordinary shares

100%

100%

 

England

     

Mannum Limited

8 Old Town Hall Apartments
19 Spa Road
London
SE16 3SA

Ordinary shares

100%

100%

 

England

     

The principal activity of Enro Limited is that of insurance broking.

The principal activity of Mannum Limited is that of business software development.

6

Debtors

Note

2018
£

2017
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

85,943

295,693

Prepayments

 

6,000

-

Other debtors

 

12,071

14,251

 

104,014

309,944

 

Enro Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

7

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Loans and borrowings

8

738

-

Trade creditors

 

1,360

-

Accruals and deferred income

 

13,680

5,825

Other creditors

 

1,062

37,500

 

16,840

43,325

8

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Other creditors

738

-

9

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £0.0001 each

1,317,130

131.71

1,197,288

119.73

         

New shares allotted

During the year 119,842 Ordinary shares of £0.0001 each having an aggregate nominal value of £11.98 were allotted for an aggregate consideration of 277,488.

10

Related party transactions

The company has taken advantage of the exemption in Section 33.1 A of FRS102 Related Party Transaction from disclosing transactions with other members of the group.

 

11

Control

There is no controlling party.

There is no ultimate controlling party.