Company registration number 02757481 (England and Wales)
EMSRAYNE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EMSRAYNE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EMSRAYNE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
122,588
179,197
Current assets
Debtors
33,997
1,133,585
Cash at bank and in hand
356
70
34,353
1,133,655
Creditors: amounts falling due within one year
(295,935)
(239,612)
Net current (liabilities)/assets
(261,582)
894,043
Total assets less current liabilities
(138,994)
1,073,240
Creditors: amounts falling due after more than one year
(182,015)
(206,563)
Net (liabilities)/assets
(321,009)
866,677
EMSRAYNE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2022
30 September 2022
2022
2021
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(321,011)
866,675
Total equity
(321,009)
866,677

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 8 November 2023 and are signed on its behalf by:
A M Brewer
Director
Company Registration No. 02757481
EMSRAYNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 3 -
1
Accounting policies
Company information

Emsrayne Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cotswold Business Park, Millfield Lane, Caddington, Bedfordshire, LU1 4AJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.true

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Rental income is recognised as it becomes due from tenants and is allocated the period of account according to the terms of the lease.

 

Revenue from recharged goods and services is recognised when invoiced to match the receipt of a matching invoice from the supplier of goods or services. These goods and services are recharged at cost.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

EMSRAYNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities in the accounts. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities recognised on this basis in the balance sheet include trade and other debtors, cash and bank balances, trade, taxation, other loans and other creditors. Other loans are accounted for on an amortised cost basis.

 

All basic financial instruments are initially measured at transaction price and then carried at that amount less any provision for impairment, where relevant.

 

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant .

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable.

EMSRAYNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In preparing these accounts the director has given consideration to the effect on assets and liabilities at the balance sheet date. In respect of plant and vehicles, impairment and the depreciation policy were considered with no changes or adjustments necessary. Other assets have been reviewed at the year end and where appropriate provision made for impairment.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2021
Number
Number
Total
-
0
-
0
EMSRAYNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 6 -
4
Tangible fixed assets
Total
£
Cost
At 27 September 2021
222,529
Disposals
(45,785)
At 30 September 2022
176,744
Depreciation and impairment
At 27 September 2021
43,332
Depreciation charged in the period
17,187
Eliminated in respect of disposals
(6,363)
At 30 September 2022
54,156
Carrying amount
At 30 September 2022
122,588
At 26 September 2021
179,197
5
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
5,870
39,232
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