Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mary Winifred Creaven 01/07/2010 Paul Christopher Creaven 07/02/2001 Richard John Alexander Curtis 30/05/2003 Collette Ann Creaven 22 November 2023 The principal activity of the Company during the year was that of property development. 04155311 2023-03-31 04155311 bus:Director1 2023-03-31 04155311 bus:Director2 2023-03-31 04155311 bus:Director3 2023-03-31 04155311 core:CurrentFinancialInstruments 2023-03-31 04155311 core:CurrentFinancialInstruments 2022-03-31 04155311 2022-03-31 04155311 core:ShareCapital 2023-03-31 04155311 core:ShareCapital 2022-03-31 04155311 core:RetainedEarningsAccumulatedLosses 2023-03-31 04155311 core:RetainedEarningsAccumulatedLosses 2022-03-31 04155311 bus:OrdinaryShareClass1 2023-03-31 04155311 2022-04-01 2023-03-31 04155311 bus:FullAccounts 2022-04-01 2023-03-31 04155311 bus:SmallEntities 2022-04-01 2023-03-31 04155311 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04155311 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04155311 bus:Director1 2022-04-01 2023-03-31 04155311 bus:Director2 2022-04-01 2023-03-31 04155311 bus:Director3 2022-04-01 2023-03-31 04155311 bus:CompanySecretary1 2022-04-01 2023-03-31 04155311 2021-07-01 2022-03-31 04155311 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 04155311 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04155311 bus:OrdinaryShareClass1 2021-07-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04155311 (England and Wales)

EMERIS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

EMERIS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

EMERIS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
EMERIS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
31.03.2023 31.03.2022
£ £
Current assets
Debtors 3 457,911 416,971
Cash at bank and in hand 165,323 164,501
623,234 581,472
Creditors: amounts falling due within one year 4 ( 116,526) ( 85,105)
Net current assets 506,708 496,367
Total assets less current liabilities 506,708 496,367
Net assets 506,708 496,367
Capital and reserves
Called-up share capital 5 99 99
Profit and loss account 506,609 496,268
Total shareholders' funds 506,708 496,367

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 financial statements of Emeris Limited (registered number: 04155311) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

Richard John Alexander Curtis
Director
EMERIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
EMERIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Emeris Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is New Creaven House, 3 Sandy Court, Ashleigh Way, Plymouth, PL7 5JX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The prior period was a short period from 1 July 2021 to 31 March 2022. Therefore, comparatives for the prior period are not entirely comparable with this financial year.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before turnover is recognised:

Sale of property:

Turnover from the sale of a property is recognised when all of the following conditions are satisfied:

• The company has transferred the significant risks and rewards of ownership to the buyer;
• The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
• The amount of revenue can be measured reliably;
• It is probable that the company will receive the consideration due under the transaction; and
• The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
31.03.2023
Period from
01.07.2021 to
31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Debtors

31.03.2023 31.03.2022
£ £
Amounts owed by joint ventures 370,745 338,920
VAT recoverable 1,006 1,446
Other debtors 86,160 76,605
457,911 416,971

4. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Trade creditors 53,854 53,854
Amounts owed to directors 30,000 12,000
Other loans 30,652 17,331
Accruals 2,020 1,920
116,526 85,105

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.03.2023 31.03.2022
£ £
Allotted, called-up and fully-paid
99 Ordinary shares of £ 1.00 each 99 99

6. Related party transactions

During the year, shareholder directors received dividends of £18,000 (2022: £18,000). At the year end, the company owed the directors £30,000 (2022: £12,000).

Included in the statement of income and retained earnings is £31,825 (2022: £23,443) representing the company's share of the profit for the year ended 31 March 2023 in an LLP that the company is a designated member. At the year end, the company was owed £370,745 (2022: £338,920) from the LLP.

At the year end, the company owed a company under common control £30,652 (2022: 17,331). This is included in other creditors. During the period, £720 (2022: £358) interest was charged on this loan, with £220 (2022: £120) of this interest included in accruals at the year end.