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EMC Event Structures Limited

(formerly B H P ASSOCIATES LIMITED)

Registered Number
03164494
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

EMC Event Structures Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

PETERS, Benjamin Harry
PETERS, Caroline
PETERS, Samuel William Harry
PETERS, Victoria

Company Secretary

PETERS, Benjamin Harry

Registered Address

2 The Barns, Graystone Plains Lane
Hampsthwaite
Harrogate
HG3 2HT

Registered Number

03164494 (England and Wales)
EMC Event Structures Limited
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,863,418698,281
1,863,418698,281
Current assets
Debtors122,31657,946
Cash at bank and on hand94,5485,250
216,86463,196
Creditors amounts falling due within one year5(479,724)(259,581)
Net current assets (liabilities)(262,860)(196,385)
Total assets less current liabilities1,600,558501,896
Creditors amounts falling due after one year6(664,987)(282,679)
Provisions for liabilities7(294,000)(91,800)
Net assets641,571127,417
Capital and reserves
Called up share capital22
Profit and loss account641,569127,415
Shareholders' funds641,571127,417
The financial statements were approved and authorised for issue by the Board of Directors on 27 March 2024, and are signed on its behalf by:
PETERS, Victoria
Director
Registered Company No. 03164494
EMC Event Structures Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
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/or 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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
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 the Income Statement
Deferred tax
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Plant & Machinery - 25% reducing balance and between 10% and 50% straight line

Reducing balance (%)Straight line (years)
Fixtures and fittings153
Vehicles255
Finance leases and hire purchase contracts
Operating leases: the Company as lessee Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term. Leased assets: the Company as lessee Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year2726
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 23685,423224,15935,724945,306
Additions1,324,198181,45111,3191,516,968
Disposals(9,440)(126,480)(8,324)(144,244)
At 31 December 232,000,181279,13038,7192,318,030
Depreciation and impairment
At 01 January 23145,19777,52824,300247,025
Charge for year201,82155,7694,466262,056
On disposals(1,888)(50,129)(2,452)(54,469)
At 31 December 23345,13083,16826,314454,612
Net book value
At 31 December 231,655,051195,96212,4051,863,418
At 31 December 22540,226146,63111,424698,281
The net book value of assets held under finance leases of hire purchase contracts, included above are as follows: Plant and machinery £292,815 (2022 - £13,096) Motor vehicles £139,463 (2022 - £26,796)
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables28,80954,995
Other debtors45,258-
Prepayments and accrued income48,2492,951
Total122,31657,946
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.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables189,00286,603
Bank borrowings and overdrafts122,78855,157
Taxation and social security28,05549,857
Finance lease and HP contracts106,57736,890
Other creditors20,6921,227
Accrued liabilities and deferred income12,61029,847
Total479,724259,581
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. The following liabilities included within creditors, amounts falling due within one year, are secured by the company: Finance lease and HP contracts £106,577 (2022 - £36,890) Bank loans £117,500 (2022 - £50,000)
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts320,674218,462
Other creditors344,31364,217
Total664,987282,679
The following liabilities included within creditors, amounts falling due after one year, are secured by the company: Bank loans £286,667 (2022 - £179,167) The following liabilities included within other creditors, amounts falling due after one year, are secured by the company: Finance lease and HP contracts £314,824 (2022 - £34,729)
7.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carries in the Statement of financial position.

2023

2022

££
Net deferred tax liability (asset)294,00091,800
Total294,00091,800
8.Capital commitments
At 31 December 2023, the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £127,640 (2022 - £127,635) Later than 1 year and not later than 5 years £143,595 (2022 - £404,178)
9.Pension commitments
The company operates a defined contribution pension scheme in respect of the directors and employees. The company also makes contributions in respect of the directors personal pension plans. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,259 (2022 - £10,673). Contributions totalling £1,903 (2022 - £967) were payable to the schemes at the period end and are included in creditors.
10.Events after reporting date
Following the year end, the shares were redesignated to 25 Ordinary A Shares of £0.02 each, 25 Ordinary B Shares of £0.02 each, 25 Ordinary C Shares of £0.02 each and 25 Ordinary D Shares of £0.02 each. Following the redesignation and a share for share exchange Prospect Companies Limited (company number 15085058), a company under the ownership of the Peters family, became the ultimate controlling party.
11.Related party transactions
On 31 December 2023, EMC Event Structures Limited (formerly B H P Associates Limited) transferred some of its assets at their net book value together with their respective hire purchase balances to a related party B H P Associates Limited (company number 15117161), a company under common control. This balance is shown in other debtors.