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ENSCO 1240 LIMITED |
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Financial Statements |
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for the period |
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1 October 2019 to 31 December 2020 |
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ENSCO 1240 LIMITED |
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Financial Statements |
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for the period |
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1 October 2019 to 31 December 2020 |
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ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Contents of the Financial Statements |
for the period 1 October 2019 to 31 December 2020 |
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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 1240 LIMITED |
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Company Information |
for the period 1 October 2019 to 31 December 2020 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Balance Sheet |
31 December 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities | ( |
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Creditors |
Amounts falling due after more than one
year |
7 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital |
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Retained earnings | ( |
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Shareholders' funds | ( |
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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 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Notes to the Financial Statements |
for the period 1 October 2019 to 31 December 2020 |
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1. | Statutory information |
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Ensco 1240 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 |
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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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Turnover |
Turnover represents amounts receivable for services provided during the year less value added tax and includes the directors' estimate of the recoverable value of work-in-progress on projects in progress but not completed at the balance sheet date. |
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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 according to the substance of the financial instrument's contractual obligations, rather than the financial instruments legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Notes to the Financial Statements - continued |
for the period 1 October 2019 to 31 December 2020 |
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2. | Accounting policies - continued |
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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 period was
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
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Cost |
At 1 October 2019 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 30 September 2019 |
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The Company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: 12 St. James' Square, London, SW1Y 4LB |
Nature of business:
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Class of shares: | holding |
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Registered office: 12 St. James' Square, London, SW1Y 4LB |
Nature of business:
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% |
Class of shares: | holding |
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Registered office: 12 St. James' Square, London, SW1Y 4LB |
Nature of business:
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% |
Class of shares: | holding |
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ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Notes to the Financial Statements - continued |
for the period 1 October 2019 to 31 December 2020 |
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4. | Fixed asset investments - continued |
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Registered office: 12 St. James' Square, London, SW1Y 4LB |
Nature of business:
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Class of shares: | holding |
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J. C. Rathbone Associates Limited is authorised and regulated by the Financial Conduct Authority. |
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Registered office: 47 Maple St, Suite L-12 Summit, NJ 07901 |
Nature of business:
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Class of shares: | holding |
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Registered office: 47 Maple St, Suite L-12 Summit, NJ 07901 |
Nature of business:
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Class of shares: | holding |
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JCRA Financial LLC is authorised and regulated by the Financial Industry Regulatory Authority. |
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Registered office: 35A Hazelton Avenue, Unit 3 Toronto, ON M5R 2E3 |
Nature of business:
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Class of shares: | holding |
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Registered office: 12 ST. James' Square, London, SW1Y 4LB |
Nature of business:
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Class of shares: | holding |
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Registered office: 12 St. James' Square, London, SW1Y 4LB |
Nature of business:
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Class of shares: | holding |
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Registered office: 12 St. James Square, London, SW1Y 4LB |
Nature of business:
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% |
Class of shares: | holding |
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ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Notes to the Financial Statements - continued |
for the period 1 October 2019 to 31 December 2020 |
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5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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Directors' loan accounts | - | 2,800 |
VAT |
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6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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7. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Other loans - 1-2 years |
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8. | Financial instruments |
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2020 | 2019 |
£ | £ |
Financial assets |
Measured at amortised cost | 4,642,917 | 4,895,657 |
Financial liabilities |
At amortised cost | 5,133,045 | 5,174,625 |
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Financial assets measured at amortised cost comprise cash at bank and amounts owed by group undertakings. |
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Financial liabilities measured at amortised cost comprise bank loans, loan notes, amounts owed to group undertakings, trade creditors and accruals. |
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9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Auditors' Report was unqualified. |
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We draw your attention to note 2 of the financial statements which explains that the company will cease trading in the current financial year. Therefore, the Directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2. Our opinion is not modified in respect of this matter. |
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for and on behalf of
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ENSCO 1240 LIMITED (REGISTERED NUMBER: 10807097) |
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Notes to the Financial Statements - continued |
for the period 1 October 2019 to 31 December 2020 |
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10. | 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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11. | Ultimate controlling party |
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At 31 December 2020 the Company's ultimate parent company was Chatham Financial Europe Limited, which was the parent of the largest and smallest group in which the current periods results of the Company are consolidated. The consolidated accounts of Chatham Financial Europe Limited are available to the public via Companies House. |