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COMPANY REGISTRATION NUMBER: 09311622
EMMABETH LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
EMMABETH LTD
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
305,000
290,000
CURRENT ASSETS
Debtors
5
392
347
Cash at bank and in hand
1,921
2,984
--------
--------
2,313
3,331
CREDITORS: amounts falling due within one year
6
197,926
205,383
-----------
-----------
NET CURRENT LIABILITIES
195,613
202,052
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
109,387
87,948
PROVISIONS
Taxation including deferred tax
9,497
6,447
-----------
---------
NET ASSETS
99,890
81,501
-----------
---------
EMMABETH LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Revaluation reserve
59,003
47,053
Profit and loss account
40,787
34,348
---------
---------
SHAREHOLDERS FUNDS
99,890
81,501
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 March 2024 , and are signed on behalf of the board by:
A. C. Plant
Director
Company registration number: 09311622
EMMABETH LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rents.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. INVESTMENTS
Rental properties
£
Cost
At 1 December 2022
290,000
Revaluations
15,000
-----------
At 30 November 2023
305,000
-----------
Impairment
At 1 December 2022 and 30 November 2023
-----------
Carrying amount
At 30 November 2023
305,000
-----------
At 30 November 2022
290,000
-----------
The Directors estimate the fair value of the properties at the Balance Sheet date was £305,000. At this value a tax provision of £9,497 is required.
5. DEBTORS
2023
2022
£
£
Other debtors
392
347
-----
-----
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,510
1,474
Other creditors
196,416
203,909
-----------
-----------
197,926
205,383
-----------
-----------
7. RELATED PARTY TRANSACTIONS
At the Balance Sheet date, the sum of £195,723 was due to Denroyd Ltd by way of an unsecured, repayable on demand, loan. Interest has been charged at a commercial rate on the daily balance outstanding. A director of this Company, is a controlling director of Denroyd Ltd.