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Registration number: 05335175

Emerald Electrical Services (S.E.) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Emerald Electrical Services (S.E.) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Emerald Electrical Services (S.E.) Limited

Company Information

Directors

Mrs Toni Alison Blackman

Mr Kevin Martin Blackman

Company secretary

Mrs Toni Alison Blackman

Registered office

38 Heron Forstal Avenue
Hawkinge
United Kingdom
Kent
CT18 7PG

 

Emerald Electrical Services (S.E.) Limited

(Registration number: 05335175)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

3,280

4,920

Tangible assets

5

20,345

15,809

Investments

6

2,716

2,886

 

26,341

23,615

Current assets

 

Debtors

7

26,054

18,543

Cash at bank and in hand

 

20,575

23,601

 

46,629

42,144

Creditors: Amounts falling due within one year

8

(33,009)

(37,021)

Net current assets

 

13,620

5,123

Total assets less current liabilities

 

39,961

28,738

Creditors: Amounts falling due after more than one year

8

(13,461)

(19,432)

Net assets

 

26,500

9,306

Capital and reserves

 

Called up share capital

100

100

Retained earnings

26,400

9,206

Shareholders' funds

 

26,500

9,306

For the financial year ending 31 March 2023 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

 

Emerald Electrical Services (S.E.) Limited

(Registration number: 05335175)
Balance Sheet as at 31 March 2023 (continued)

.........................................
Mr Kevin Martin Blackman
Director

   
     
 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
38 Heron Forstal Avenue
Hawkinge
United Kingdom
Kent
CT18 7PG
England

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Motor vehicles

25% straight line

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

32,800

32,800

At 31 March 2023

32,800

32,800

Amortisation

At 1 April 2022

27,880

27,880

Amortisation charge

1,640

1,640

At 31 March 2023

29,520

29,520

Carrying amount

At 31 March 2023

3,280

3,280

At 31 March 2022

4,920

4,920

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

6,083

1,007

23,408

25,389

55,887

Additions

-

-

2,824

24,245

27,069

Disposals

(6,041)

(590)

(21,012)

(11,750)

(39,393)

At 31 March 2023

42

417

5,220

37,884

43,563

Depreciation

At 1 April 2022

5,902

948

20,755

12,473

40,078

Charge for the year

-

-

1,116

8,415

9,531

Eliminated on disposal

(5,860)

(531)

(20,000)

-

(26,391)

At 31 March 2023

42

417

1,871

20,888

23,218

Carrying amount

At 31 March 2023

-

-

3,349

16,996

20,345

At 31 March 2022

181

59

2,653

12,916

15,809

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6

Investments

2023
£

2022
£

Investments in subsidiaries

2,716

2,886

Subsidiaries

£

Cost or valuation

At 1 April 2022

3,395

Provision

At 1 April 2022

509

Provision

170

At 31 March 2023

679

Carrying amount

At 31 March 2023

2,716

At 31 March 2022

2,886

7

Debtors

Current

2023
£

2022
£

Trade debtors

20,981

18,543

Other debtors

5,073

-

 

26,054

18,543

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

14,508

15,514

Trade creditors

 

11,270

4,493

Taxation and social security

 

7,231

17,014

 

33,009

37,021

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

13,461

19,432

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

13,461

19,432

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,971

7,759

Directors current account

8,537

7,755

14,508

15,514

10

Dividends

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

10

Dividends (continued)

   

2023

 

2022

   

£

 

£

Final dividend of £1.00 (2022 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2022 - £4.00) per ordinary share

 

15,000

 

40,000

   

15,000

 

40,000

         

11

Related party transactions

 

Emerald Electrical Services (S.E.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

11

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,200

17,293

Contributions paid to money purchase schemes

1,680

1,680

19,880

18,973