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No description of principal activities is disclosed
2022-01-01
Sage Accounts Production 21.0 - FRS102_2021
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13266138
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13266138
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13266138
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13266138
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2022-12-31
Company registration number:
13266138
ENNOGEN IP LTD
Filleted financial statements
31 December 2022
Pearlman Rose
Chartered Accountants & Statutory Auditors
39-40 Skylines Village
Limeharbour
London E14 9TS
ENNOGEN IP LTD
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
ENNOGEN IP LTD
Directors and other information
|
|
|
|
|
Directors |
Mr G S Ruprai |
|
|
|
Mr J R Tate |
(Appointed 14 June 2022) |
|
|
|
|
|
|
|
|
|
Company number |
13266138 |
|
|
|
|
|
|
|
|
|
|
Registered office |
Unit G4 |
|
|
|
Riverside Way |
|
|
|
Dartford |
|
|
|
DA1 5BS |
|
|
|
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|
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|
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Business address |
Unit G4 |
|
|
|
Riverside Way |
|
|
|
Dartford, Kent |
|
|
|
DA1 5BS |
|
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|
|
|
Auditor |
Pearlman Rose |
|
|
|
Chartered Accountants & Statutory Auditors |
|
|
|
39-40 Skylines Village |
|
|
|
Limeharbour, Docklands |
|
|
|
London |
|
|
|
E14 9TS |
|
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|
ENNOGEN IP LTD
Directors responsibilities statement
Year ended 31 December 2022
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ENNOGEN IP LTD
Statement of financial position
31 December 2022
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
8,645,000 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
8,645,000 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
2,332,663 |
|
|
|
1,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
2,332,663 |
|
|
|
1,000 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
2,023,041) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
309,622 |
|
|
|
1,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
8,954,622 |
|
|
|
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
8,954,622 |
|
|
|
1,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
2,000 |
|
|
|
1,000 |
Share premium account |
|
|
|
|
8,999,000 |
|
|
|
- |
Profit and loss account |
|
|
|
|
(
46,378) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
8,954,622 |
|
|
|
1,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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 Section 1A of 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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 December 2023
, and are signed on behalf of the board by:
Mr G S Ruprai
Mr J R Tate
Director
Director
Company registration number:
13266138
ENNOGEN IP LTD
Statement of changes in equity
Year ended 31 December 2022
|
|
Called up share capital |
Share premium account |
Profit and loss account |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2021 |
|
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
1,000 |
- |
|
1,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
1,000 |
- |
- |
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 December 2021 and 1 January 2022 |
|
1,000 |
- |
- |
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
(
46,378) |
(
46,378) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
(
46,378) |
(
46,378) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
1,000 |
8,999,000 |
|
9,000,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
1,000 |
8,999,000 |
- |
9,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 December 2022 |
|
2,000 |
8,999,000 |
(
46,378) |
8,954,622 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
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|
ENNOGEN IP LTD
Notes to the financial statements
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Unit G4, Riverside Way, Dartford, DA1 5BS.
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 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Intangible assets |
- |
Straight line over 5 years |
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tax on profit
Major components of tax expense
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
95,849 |
- |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
95,849 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit for the year is higher than (2021: the same as) the
standard rate of corporation tax in the UK
of
19.00
% (2021: 19.00%).
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Profit before taxation |
|
49,471 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Profit multiplied by rate of tax |
|
9,399 |
- |
|
Effect of capital allowances and depreciation |
|
86,450 |
- |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
95,849 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2022 |
- |
- |
|
|
|
|
|
Additions |
9,100,000 |
9,100,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
9,100,000 |
9,100,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 January 2022 |
- |
- |
|
|
|
|
|
Charge for the year |
455,000 |
455,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
455,000 |
455,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2022 |
8,645,000 |
8,645,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
512,663 |
- |
|
Other debtors |
|
1,820,000 |
1,000 |
|
|
|
_______ |
_______ |
|
|
|
2,332,663 |
1,000 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Trade creditors |
|
442 |
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,920,000 |
- |
|
Corporation tax |
|
95,849 |
- |
|
Other creditors |
|
6,750 |
- |
|
|
|
_______ |
_______ |
|
|
|
2,023,041 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Summary audit opinion
The auditor's report for the year dated
04 December 2023
was unqualified.
The senior statutory auditor was
Mohammad Jilani
for and on behalf of
Pearlman Rose
9.
Controlling party
The immediate parent undertaking is Ennogen Investments Ltd, a company incorporated in England & Wales.The ultimate parent undertaking is Ennogen Holdings Limited, a company incorporated in England & Wales.The ultimate controlling party is
Mr G S Ruprai
.