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ENSCO 1149 LIMITED |
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Financial Statements |
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for the Year Ended 31 December 2021 |
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ENSCO 1149 LIMITED |
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Financial Statements |
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for the Year Ended 31 December 2021 |
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ENSCO 1149 LIMITED (REGISTERED NUMBER: 09796409) |
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Contents of the Financial Statements |
for the year ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ENSCO 1149 LIMITED |
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Company Information |
for the year ended 31 December 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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ENSCO 1149 LIMITED (REGISTERED NUMBER: 09796409) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Current assets |
Cash in hand |
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Creditors |
Amounts falling due within one year | 5 |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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( |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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Shareholders' funds |
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( |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ENSCO 1149 LIMITED (REGISTERED NUMBER: 09796409) |
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Notes to the Financial Statements |
for the year ended 31 December 2021 |
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1. | Statutory information |
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Ensco 1149 Limited is a private Company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found on the Company Information page. |
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Amounts are rounded to the nearest £. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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The financial statements have not been prepared on going concern basis as explained within the 'basis other than going concern' paragraph of this note. |
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Basis of non-consolidation |
The Company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of Chatham Financial Europe Limited. These financial statements therefore present information about the Company as an individual undertaking and not about its group. |
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Significant judgements and estimates |
In preparing these financial statements, the directors have made the following judgements: |
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Determine whether there are indicators of impairment of the Company's fixed asset investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the investee entity. |
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There have been no other key sources of estimation uncertainty in the preparation of these financial statements. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
Financial assets |
Financial assets other than investments, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment. |
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Financial liabilities and equity |
Financial liabilities and equity are classified accordingly to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost. |
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Basis other than going concern |
The Directors' believe the business to not be a going concern and the financial statements have been prepared on that basis. |
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The Company is part of a group owned by its UK parent company and the decision has been taken for the Company to cease trading as soon as practically possible. As such, the Directors have decided that it is not appropriate for these financial statements to be prepared on a going concern basis. Having assessed relevant information available, in particular in response to the COVID-19 Pandemic as well as funding and support from the ultimate parent company, they are of the opinion that no adjustments are required to these financial statements. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2020 - NIL). |
ENSCO 1149 LIMITED (REGISTERED NUMBER: 09796409) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2021 |
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Impairments |
( |
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At 31 December 2021 |
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Net book value |
At 31 December 2021 |
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At 31 December 2020 |
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5. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
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6. | Financial instruments |
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The Company's financial instruments may be analysed as follows: |
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2021 | 2020 |
Financial assets | £ | £ |
Measured at amortised cost | - | 1 |
Financial liabilities |
Measured at amortised cost | - | (19,314,365 | ) |
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Financial assets measured at amortised cost comprise cash at bank. |
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Financial liabilities measured at amortised cost comprise bank loans, loan notes, amounts owed to group undertakings and accruals. |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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8. | Reserves |
Retained |
earnings |
£ |
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At 1 January 2021 | ( |
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Profit for the year |
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Dividends | ( |
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At 31 December 2021 | ( |
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ENSCO 1149 LIMITED (REGISTERED NUMBER: 09796409) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
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9. | Related party disclosures |
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The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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10. | Ultimate controlling party |
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The Company is a wholly owned subsidiary of Ensco 1240 Limited. At 31 December 2021 the Company's UK parent Company was Chatham Financial Europe Limited, which was the parent of the largest and smallest group in which the current year results of the Company are consolidated. The consolidated accounts of Chatham Financial Europe Limited are available to the public via Companies House. |