Registered number
06378303
EMAX (UK) LIMITED
Unaudited Accounts
31 December 2023
EMAX (UK) LIMITED
Registered number: 06378303
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 418 558
Current assets
Debtors 4 131,400 349,647
Cash at bank and in hand 700,143 523,300
831,543 872,947
Creditors: amounts falling due within one year 5 (43,067) (113,043)
Net current assets 788,476 759,904
Total assets less current liabilities 788,894 760,462
Provisions for liabilities (139) (139)
Net assets 788,755 760,323
Capital and reserves
Called up share capital 100 100
Profit and loss account 788,655 760,223
Shareholders' funds 788,755 760,323
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S W YOON
Director
Approved by the board on 11 March 2024
EMAX (UK) LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures, fittings, equipment, etc
£
Cost
At 1 January 2023 10,978
At 31 December 2023 10,978
Depreciation
At 1 January 2023 10,420
Charge for the year 140
At 31 December 2023 10,560
Net book value
At 31 December 2023 418
At 31 December 2022 558
4 Debtors 2023 2022
£ £
Trade debtors 37,800 221,304
Prepayments and accrued income 93,600 128,343
131,400 349,647
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 38,223 108,566
Other creditors 4,844 4,477
43,067 113,043
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases - 3,036
The company operates a defined contribution pension scheme on behalf of its directors. The assets of the scheme are held separately from those of the company in an independently administered fund.
7 Other information
EMAX (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Suite 7 Claremont House
22-24 Claremont Road
Surbiton
Surrey
KT6 4QU
The financial statements are presented in Sterling, which is the functional currency of the
company.
8 Charge on the company
The company has given a mortgage debenture to HSBC Bank Plc to secure all monies due or to become due from the company thereto which at 31 December 2023 amounted to nil (2022:nil)
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