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REGISTERED NUMBER: 05040772 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

EMSEA LIMITED

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EMSEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M Causer
C W Sweet





SECRETARY: M Causer





REGISTERED OFFICE: Unit 5 Green Lane
Tewkesbury
Gloucestershire
GL20 8HD





REGISTERED NUMBER: 05040772 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 750 1,500
Tangible assets 5 1,964,419 1,430,609
1,965,169 1,432,109

CURRENT ASSETS
Stocks 151,379 192,917
Debtors 6 922,040 1,068,506
Cash at bank and in hand 772,240 782,425
1,845,659 2,043,848
CREDITORS
Amounts falling due within one year 7 1,465,916 1,802,690
NET CURRENT ASSETS 379,743 241,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,344,912

1,673,267

CREDITORS
Amounts falling due after more than one
year

8

(535,986

)

(211,241

)

PROVISIONS FOR LIABILITIES (413,629 ) (206,055 )
NET ASSETS 1,395,297 1,255,971

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,295,297 1,155,971
1,395,297 1,255,971

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

BALANCE SHEET - continued
31 JULY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:




M Causer - Director



C W Sweet - Director


EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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


1. STATUTORY INFORMATION

Emsea 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Plant and machinery - 10% on reducing balance and 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Stocks and work in progress
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 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 that have been enacted or substantively enacted by the balance sheet date.


EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 51 (2022 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 15,000
AMORTISATION
At 1 August 2022 13,500
Amortisation for year 750
At 31 July 2023 14,250
NET BOOK VALUE
At 31 July 2023 750
At 31 July 2022 1,500

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 453,641 1,844,321 144,278 8,490 2,450,730
Additions - 906,051 10,021 - 916,072
Disposals - (456,923 ) - - (456,923 )
At 31 July 2023 453,641 2,293,449 154,299 8,490 2,909,879
DEPRECIATION
At 1 August 2022 99,237 828,874 86,281 5,729 1,020,121
Charge for year 22,682 166,483 23,929 690 213,784
Eliminated on disposal - (288,445 ) - - (288,445 )
At 31 July 2023 121,919 706,912 110,210 6,419 945,460
NET BOOK VALUE
At 31 July 2023 331,722 1,586,537 44,089 2,071 1,964,419
At 31 July 2022 354,404 1,015,447 57,997 2,761 1,430,609

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2022 804,500
Additions 816,470
Transfer to ownership (165,000 )
At 31 July 2023 1,455,970
DEPRECIATION
At 1 August 2022 210,333
Charge for year 104,964
Transfer to ownership (68,381 )
At 31 July 2023 246,916
NET BOOK VALUE
At 31 July 2023 1,209,054
At 31 July 2022 594,167

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 883,546 916,089
Other debtors 38,494 152,417
922,040 1,068,506

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 218,333 146,087
Trade creditors 686,149 1,036,555
Amounts owed to group undertakings 377,709 207,709
Taxation and social security 151,475 279,926
Other creditors 32,250 132,413
1,465,916 1,802,690

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 535,986 211,241

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 218,333 146,087
Between one and five years 535,986 211,241
754,319 357,328

Non-cancellable operating leases
2023 2022
£    £   
Within one year 153,920 16,649
Between one and five years 313,861 43,011
In more than five years 170,833 -
638,614 59,660

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 754,319 357,328

Hire purchase liabilities are secured on the assets to which they relate.

There is a cross guarantee of obligations between Emsea Limited and Emsea Group Limited.

11. RELATED PARTY DISCLOSURES

Emsea Limited used premises owned by a director, and was charged rent of £50,000 (2022 - £50,000).

12. ULTIMATE CONTROLLING PARTY

No single individual has overall control of the ultimate parent company.