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COMPANY REGISTRATION NUMBER: 08041808
Emerald Sales Limited
Filleted Financial Statements
1 April 2023
Emerald Sales Limited
Financial Statements
Year ended 1 April 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
Emerald Sales Limited
Officers and Professional Advisers
The board of directors
Mr L McLachlan
Miss L McLachlan
Registered office
Old Hall Farm
19 Barnston Lane
Moreton
Wirral
CH46 7TN
Registered number 08041808 (England and Wales)
Auditor
Hailwood & Co.
Chartered accountants & statutory auditor
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
Emerald Sales Limited
Statement of Financial Position
1 April 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
34,286
Current assets
Debtors
6
942,532
865,526
Cash at bank and in hand
210,605
168,931
------------
------------
1,153,137
1,034,457
Creditors: amounts falling due within one year
7
1,070,559
992,999
------------
------------
Net current assets
82,578
41,458
--------
--------
Total assets less current liabilities
82,578
75,744
--------
--------
Net assets
82,578
75,744
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
82,577
75,743
--------
--------
Shareholders funds
82,578
75,744
--------
--------
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 income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 1 August 2024 , and are signed on behalf of the board by:
Miss L McLachlan
Director
Company registration number: 08041808
Emerald Sales Limited
Notes to the Financial Statements
Year ended 1 April 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 Old Hall Farm, 19 Barnston Lane, Moreton, Wirral, CH46 7TN.
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. Employees and directors
The average number of employees during the year was nil (2022: nil).
4. 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
There are no judgements or estimates that have had a significant effect on amounts recognised in the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration receivable and represents amounts receivable for services rendered from the provision of construction service personnel, stated net of discounts, rebates, and of Value Added Tax. Turnover is recognised as the service is provided. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Current or deferred taxation assets and liabilities are not discounted. 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and any accumulated impairment losses. The client list is amortised evenly over its useful life of 5 years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
User defined 1
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Financial instruments
Intercompany loans (being repayable on demand), trade debtors, and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
5. Intangible assets
Client list
£
Cost
At 4 April 2022 and 1 April 2023
171,429
---------
Amortisation
At 4 April 2022
137,143
Charge for the year
34,286
---------
At 1 April 2023
171,429
---------
Carrying amount
At 1 April 2023
---------
At 3 April 2022
34,286
---------
6. Debtors
2023
2022
£
£
Trade debtors
15,003
141,862
Amounts owed by group undertakings and undertakings in which the company has a participating interest
403,688
288,415
Other debtors
523,841
435,249
---------
---------
942,532
865,526
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,628
7,402
Amounts owed to group undertakings and undertakings in which the company has a participating interest
29,000
29,000
Corporation tax
34,639
46,746
Social security and other taxes
995,352
809,410
Other creditors
5,940
100,441
------------
---------
1,070,559
992,999
------------
---------
8. Summary audit opinion
The auditor's report dated 1 August 2024 was unqualified .
The senior statutory auditor was A D French , for and on behalf of Hailwood & Co. .
9. Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
10. Controlling party
The ultimate controlling party of the company is Mr L. McLachlan, who is a director, by virtue of his shareholding in Blue Garnet Management Services Limited. Blue Garnet Management Services Limited prepares consolidated financial statements which are available from Companies House, Crown Way, Cardiff, CF14 3UZ.