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Registration number: NI668390

EMA Building & Civils Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2022 to 30 March 2023

 

EMA Building & Civils Limited

(Registration number: NI668390)
Balance Sheet as at 30 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

136,834

40,912

Current assets

 

Stocks

5

474,691

359,966

Debtors

6

51,732

112,954

Cash at bank and in hand

 

121,621

7,092

 

648,044

480,012

Creditors: Amounts falling due within one year

7

(595,346)

(443,316)

Net current assets

 

52,698

36,696

Total assets less current liabilities

 

189,532

77,608

Creditors: Amounts falling due after more than one year

7

(32,791)

-

Provisions for liabilities

(26,474)

(7,773)

Net assets

 

130,267

69,835

Capital and reserves

 

Called up share capital

8

12

12

Retained earnings

130,255

69,823

Shareholders' funds

 

130,267

69,835

For the financial period ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

EMA Building & Civils Limited

(Registration number: NI668390)
Balance Sheet as at 30 March 2023

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.

Approved and authorised by the director on 15 January 2024
 

.........................................
Eamonn McAlister
Director

 

EMA Building & Civils Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Yard 1 Cafe Lane, Ballymoney, Co Antrim, BT53 6EA.

These financial statements were authorised for issue by the director on 15 January 2024.

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 and deferred 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.

 

EMA Building & Civils Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

20% reducing balance

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

EMA Building & Civils Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

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.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 2).

 

EMA Building & Civils Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

34,140

17,000

51,140

Additions

64,231

65,900

130,131

At 30 March 2023

98,371

82,900

181,271

Depreciation

At 1 April 2022

6,828

3,400

10,228

Charge for the period

18,309

15,900

34,209

At 30 March 2023

25,137

19,300

44,437

Carrying amount

At 30 March 2023

73,234

63,600

136,834

At 31 March 2022

27,312

13,600

40,912

5

Stocks

2023
£

2022
£

Work in progress

474,691

359,966

6

Debtors

Current

2023
£

2022
£

Other debtors

51,732

112,954

 

51,732

112,954

 

EMA Building & Civils Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank overdrafts

-

1,185

Hire purchase

14,840

-

Trade creditors

 

459,568

415,514

Taxation and social security

 

119,915

26,617

Other creditors

 

1,023

-

 

595,346

443,316

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

12

12

12

12

         

9

Related party transactions

Included in other creditors is £1,023 due to the director at the year end (2022 : £5,433 debtor).