REGISTERED NUMBER: 06990409 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

EMAS UK Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C G R Pickles

Ms D J Mills

REGISTERED OFFICE:

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

06990409 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Lloyds Bank Plc

202 High Street

LINCOLN

Lincolnshire

LN5 7AP

FIXED ASSETS

Intangible assets

4

-

15,283

Tangible assets

5

669

1,222

669

16,505

CURRENT ASSETS

Debtors

35,360

34,277

Cash at bank

12,762

16,149

48,122

50,426

CREDITORS

Amounts falling due within one year

71,822

68,869

NET CURRENT LIABILITIES

(23,700

)

(18,443

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,031

)

(1,938

)

PROVISIONS FOR LIABILITIES

127

232

NET LIABILITIES

(23,158

)

(2,170

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(23,258

)

(2,270

)

SHAREHOLDERS' FUNDS

(23,158

)

(2,170

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by:

Mr C G R Pickles - Director

1.	STATUTORY INFORMATION

EMAS UK 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 Company 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 represents net invoiced sales of goods and subscriptions, excluding value added tax. Where subscriptions are sold for periods of more than 12 months an adjustment is made to account for such income received in advance at the balance sheet date. This is shown in accruals and deferred income.

Commissions paid against turnover are also recognised on an accruals basis with the prepaid commission income shown in prepayments.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

15,283

Disposals

(15,283

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

15,283

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

8,180

Additions

79

At 31 March 2023

8,259

DEPRECIATION

At 1 April 2022

6,958

Charge for year

632

At 31 March 2023

7,590

NET BOOK VALUE

At 31 March 2023

669

At 31 March 2022

1,222

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

Mr C G R Pickles

Balance outstanding at start of year

12,652

12,344

Amounts advanced

317

308

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,969

12,652

Interest is charged on overdrawn balances at a rate of 2.5%. The maximum balance outstanding during the year for Mr C G R Pickles was £12,969 (2022: £12,652). The loan is not secured.

7.	RELATED PARTY DISCLOSURES

Mr C G R Pickles, a director of EMAS UK Limited, is a director of F.1. Help Limited. A balance of £30,920 is included in creditors (2022: £28,807), being the balance owed to F.1. Help Limited. This loan is interest free and payable on demand.

The company trades with F.1. Group (UK) Limited of which Mr C G R Pickles, a director of EMAS UK Limited, is the sole shareholder and a director. A balance of £28,621 is included in creditors (2022: £28,750), being the balance owed to F1 Group (UK) Limited.