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Registration number: 08329881

EMP Research Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

EMP Research Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

EMP Research Limited

(Registration number: 08329881)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,337,475

1,357,316

Investment property

5

400,000

400,000

Investments

6

100

100

 

1,737,575

1,757,416

Current assets

 

Cash at bank and in hand

 

596,288

541,991

Creditors: Amounts falling due within one year

8

(37,883)

(36,892)

Net current assets

 

558,405

505,099

Total assets less current liabilities

 

2,295,980

2,262,515

Creditors: Amounts falling due after more than one year

8

(888,993)

(901,921)

Provisions for liabilities

(35,107)

(35,107)

Net assets

 

1,371,880

1,325,487

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

115,542

115,542

Profit and loss account

1,256,238

1,209,845

Shareholders' funds

 

1,371,880

1,325,487

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

 

EMP Research Limited

(Registration number: 08329881)
Statement of Financial Position as at 31 March 2024

.........................................
Mr D M Stanton
Director

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% per annum on cost

Plant and machinery

20% per annum on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

1,395,798

1,500

1,397,298

At 31 March 2024

1,395,798

1,500

1,397,298

Depreciation

At 1 April 2023

39,082

900

39,982

Charge for the year

19,541

300

19,841

At 31 March 2024

58,623

1,200

59,823

Carrying amount

At 31 March 2024

1,337,175

300

1,337,475

At 31 March 2023

1,356,716

600

1,357,316

Included within the net book value of land and buildings above is £1,337,175 (2023 - £1,356,716) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 April 2023

400,000

At 31 March 2024

400,000

There has been no valuation of investment property by an independent valuer.

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 April 2023

100

Provision

Carrying amount

At 31 March 2024

100

At 31 March 2023

100

7

Debtors

2024
£

2023
£

-

-

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

9

14,652

16,256

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,550

-

Taxation and social security

 

20,056

19,086

Accruals and deferred income

 

1,625

1,550

 

37,883

36,892


Creditors include bank loans which are secured of £14,652 (2023 - £16,256).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

9

888,993

901,921


Creditors include bank loans which are secured of £888,993 (2023 - £901,921).

Creditors include bank loans repayable by instalments of £794,378 (2023- £804,130) due after more than five years.

 

EMP Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

888,993

901,921

2024
£

2023
£

Current loans and borrowings

Bank borrowings

14,652

16,256