Company registration number:
Emsand Ltd
for the Year Ended 31 October 2022
Emsand Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Emsand Ltd
Company Information
Directors |
Mr M Reed Mr L Preston |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Emsand Ltd
for the Year Ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Emsand Ltd for the year ended 31 October 2022 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Emsand Ltd, as a body, in accordance with the terms of our engagement letter dated 1 June 2020. Our work has been undertaken solely to prepare for your approval the accounts of Emsand Ltd and state those matters that we have agreed to state to the Board of Directors of Emsand Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emsand Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Emsand Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Emsand Ltd. You consider that Emsand Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Emsand Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
St. Helens
Merseyside
WA9 1UA
Emsand Ltd
(Registration number: 08695867)
Balance Sheet as at 31 October 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
- |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
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Shareholders' (deficit)/funds |
( |
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For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Emsand Ltd
(Registration number: 08695867)
Balance Sheet as at 31 October 2022
Approved and authorised by the
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Emsand Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis, the validity of which depends upon future profitable trading, and the support of the directors. Should the company be unable to continue trading, adjustments would be necessary to reduce the value of assets to their recoverable amounts, to provide for further liabilities which might arise and to reclassify fixed assets as current assets.
Revenue recognition
The turnover shown in the profit and loss account comprises the amounts invoiced, net of value added tax, returns, rebates and discounts.
Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.
Deferred Tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax is not discounted.
Emsand Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
33% straight line |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Equipment |
Total |
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Cost or valuation |
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At 1 November 2021 |
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At 31 October 2022 |
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Depreciation |
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At 1 November 2021 |
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Charge for the year |
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At 31 October 2022 |
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Carrying amount |
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At 31 October 2022 |
- |
- |
At 31 October 2021 |
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Emsand Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Debtors |
2022 |
2021 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Corporation tax |
27,757 |
28,554 |
Other creditors |
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Emsand Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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Related party transactions |
Transactions with directors |
2022 |
At 1 November 2021 |
Repayments by director |
At 31 October 2022 |
Mr M Reed |
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Directors loan |
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( |
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2021 |
At 1 November 2020 |
Advances to director |
Repayments by director |
At 31 October 2021 |
Mr M Reed |
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Directors loan |
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( |
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The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis.
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Going concern |
Although the financial statements show net liabilities of £12,306 (2021: £nil), the directors are of the opinion that the financial statements can be prepared on the going concern basis on the grounds that the company will continue to receive support from the directors and will trade profitably in the future.