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REGISTERED NUMBER: 06416350 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

EMFAST LIMITED

EMFAST LIMITED (REGISTERED NUMBER: 06416350)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EMFAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr A Legg
Mrs D Legg
Mr S Vickers
Mr C Vickers





REGISTERED OFFICE: Emfast House
101 Sanders Road
Finedon Road Industrial Estate
Wellingborough
Northamptonshire
NN8 4NL





REGISTERED NUMBER: 06416350 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

EMFAST LIMITED (REGISTERED NUMBER: 06416350)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,679 28,325
17,679 28,325

CURRENT ASSETS
Stocks 72,610 67,238
Debtors 6 57,615 70,567
Cash at bank and in hand 129,703 151,158
259,928 288,963
CREDITORS
Amounts falling due within one year 7 243,707 253,234
NET CURRENT ASSETS 16,221 35,729
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,900

64,054

PROVISIONS FOR LIABILITIES 2,627 4,546
NET ASSETS 31,273 59,508

CAPITAL AND RESERVES
Called up share capital 20,100 20,100
Retained earnings 11,173 39,408
SHAREHOLDERS' FUNDS 31,273 59,508

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mr A Legg - Director


EMFAST LIMITED (REGISTERED NUMBER: 06416350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Emfast 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Office equipment - 15% on cost
Motor vehicles - 20% on cost
Website - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 4 (2022 - 4 ) .

EMFAST LIMITED (REGISTERED NUMBER: 06416350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 150,000
AMORTISATION
At 1 April 2022
and 31 March 2023 150,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Website Totals
£    £    £    £    £   
COST
At 1 April 2022 17,831 18,455 25,411 34,208 95,905
Additions - 540 - - 540
At 31 March 2023 17,831 18,995 25,411 34,208 96,445
DEPRECIATION
At 1 April 2022 13,394 18,455 16,093 19,638 67,580
Charge for year 931 41 5,082 5,132 11,186
At 31 March 2023 14,325 18,496 21,175 24,770 78,766
NET BOOK VALUE
At 31 March 2023 3,506 499 4,236 9,438 17,679
At 31 March 2022 4,437 - 9,318 14,570 28,325

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,365 70,567
Other debtors 250 -
57,615 70,567

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,717 49,611
Taxation and social security 35,856 42,408
Other creditors 169,134 161,215
243,707 253,234

8. RELATED PARTY DISCLOSURES

At the balance sheet date the amount due to the directors was £166,780 (2022: £159,215). Interest has not been charged on the loan amount and there are no fixed repayment terms.