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Company registration number: 08695867

Emsand Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 October 2022

 

Emsand Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Emsand Ltd

Company Information

Directors

Mr M Reed

Mr L Preston

Registered office

107 Sandstone Drive
Whiston
Prescot
Merseyside
L35 7LS

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

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.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

27 October 2023

 

Emsand Ltd

(Registration number: 08695867)
Balance Sheet as at 31 October 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

-

357

Current assets

 

Debtors

5

47,311

61,237

Cash at bank and in hand

 

33

351

 

47,344

61,588

Creditors: Amounts falling due within one year

6

(29,650)

(31,834)

Net current assets

 

17,694

29,754

Total assets less current liabilities

 

17,694

30,111

Creditors: Amounts falling due after more than one year

6

(30,000)

(30,000)

Provisions for liabilities

-

(68)

Net (liabilities)/assets

 

(12,306)

43

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(12,308)

41

Shareholders' (deficit)/funds

 

(12,306)

43

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 26 October 2023 and signed on its behalf by:
 

.........................................
Mr M Reed
Director

 

Emsand Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
107 Sandstone Drive
Whiston
Prescot
Merseyside
L35 7LS

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

4

Tangible assets

Equipment
£

Total
£

Cost or valuation

At 1 November 2021

1,164

1,164

At 31 October 2022

1,164

1,164

Depreciation

At 1 November 2021

807

807

Charge for the year

357

357

At 31 October 2022

1,164

1,164

Carrying amount

At 31 October 2022

-

-

At 31 October 2021

357

357

 

Emsand Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022

5

Debtors

2022
£

2021
£

Other debtors

47,311

61,237

47,311

61,237

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Corporation tax

27,757

28,554

Other creditors

1,893

3,280

29,650

31,834

 

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
£

Due after one year

 

Loans and borrowings

7

30,000

30,000

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

30,000

30,000

8

Related party transactions

Transactions with directors

2022

At 1 November 2021
£

Repayments by director
£

At 31 October 2022
£

Mr M Reed

Directors loan

47,953

(12,245)

35,708

       
     

 

2021

At 1 November 2020
£

Advances to director
£

Repayments by director
£

At 31 October 2021
£

Mr M Reed

Directors loan

80,301

8,390

(40,738)

47,953

         
       

 

The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis.

9

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.