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REGISTERED NUMBER: 11391808 (England and Wales)















REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

EMFI GROUP LIMITED

EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2021




Page

Company Information 1

Report of the Director 2

Report of the Independent Auditors 3

Consolidated Income Statement 6

Consolidated Balance Sheet 7

Company Balance Sheet 8

Notes to the Consolidated Financial Statements 9


EMFI GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2021







DIRECTOR: U A Sheikh





REGISTERED OFFICE: 25-26 Dering Street
London
W1S 1AW





REGISTERED NUMBER: 11391808 (England and Wales)





AUDITORS: Sigma Chartered Certified Accountants
& Registered Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 December 2021

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2021.

DIRECTOR
U A Sheikh held office during the whole of the period from 1 January 2021 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Sigma Chartered Certified Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





U A Sheikh - Director


20 July 2022

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EMFI GROUP LIMITED

Opinion
We have audited the financial statements of EMFI Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2021 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2021 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EMFI GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Director.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiring of management, the Audit & Risk Committee in-house and external legal counsel concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Reading minutes of meetings of those charged with governance;
- Obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EMFI GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




M I Ashraf FCCA (Senior Statutory Auditor)
for and on behalf of Sigma Chartered Certified Accountants
& Registered Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

20 July 2022

EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   

TURNOVER 846,807 735,207

Cost of sales 382,159 684,852
GROSS PROFIT 464,648 50,355

Distribution costs 1,241 -
Administrative expenses 499,618 479,199
500,859 479,199
OPERATING LOSS and
LOSS BEFORE TAXATION (36,211 ) (428,844 )

Tax on loss 130 (80,419 )
LOSS FOR THE FINANCIAL YEAR (36,341 ) (348,425 )

Loss attributable to:
Owners of the parent (36,341 ) (348,425 )

EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

CONSOLIDATED BALANCE SHEET
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 776 1,977
Investments 7 - -
776 1,977

CURRENT ASSETS
Debtors 8 6,543,784 126,545
Cash at bank and in hand 1,208,770 1,360,109
7,752,554 1,486,654
CREDITORS
Amounts falling due within one year 9 6,357,629 56,589
NET CURRENT ASSETS 1,394,925 1,430,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,395,701

1,432,042

CREDITORS
Amounts falling due after more than one
year

10

1,000

1,000
NET ASSETS 1,394,701 1,431,042

CAPITAL AND RESERVES
Called up share capital 1,350,002 1,350,002
Retained earnings 44,699 81,040
SHAREHOLDERS' FUNDS 1,394,701 1,431,042

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 20 July 2022 and were signed by:





U A Sheikh - Director


EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

COMPANY BALANCE SHEET
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 - -
Investments 7 1,350,001 1,350,001
1,350,001 1,350,001

CURRENT ASSETS
Cash in hand 1 1
NET CURRENT ASSETS 1 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,350,002

1,350,002

CAPITAL AND RESERVES
Called up share capital 1,350,002 1,350,002
SHAREHOLDERS' FUNDS 1,350,002 1,350,002

Company's profit for the financial year - -

The financial statements were approved by the director and authorised for issue on 20 July 2022 and were signed by:





U A Sheikh - Director


EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2021

1. STATUTORY INFORMATION

EMFI Group 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 General Information page.

2. ACCOUNTING POLICIES

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2021

4. OPERATING LOSS

The operating loss is stated after charging:

31.12.21 31.12.20
£    £   
Depreciation - owned assets 1,201 2,095

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


6. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 2,130 6,676 8,806
DEPRECIATION
At 1 January 2021 1,704 5,125 6,829
Charge for year 426 775 1,201
At 31 December 2021 2,130 5,900 8,030
NET BOOK VALUE
At 31 December 2021 - 776 776
At 31 December 2020 426 1,551 1,977

7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 1,350,001
NET BOOK VALUE
At 31 December 2021 1,350,001
At 31 December 2020 1,350,001


EMFI GROUP LIMITED (REGISTERED NUMBER: 11391808)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2021

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.21 31.12.20 31.12.21 31.12.20
£    £    £    £   
Trade debtors 6,317,747 - - -
Amounts owed by associates 61,641 - - -
Other debtors 164,396 126,545 - -
6,543,784 126,545 - -

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.12.21 31.12.20
£    £   
Trade creditors 6,335,126 1
Taxation and social security 4,277 26,555
Other creditors 18,226 30,033
6,357,629 56,589

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.12.21 31.12.20
£    £   
Other creditors 1,000 1,000