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REGISTERED NUMBER: 05633579 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED

EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED (REGISTERED NUMBER: 05633579)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Dr F Fesharaki
Sir R P Clayton
Dr T Hosoe


SECRETARY: Sir R P Clayton


REGISTERED OFFICE: 133 Aldersgate Street
London
EC1A 4JA


REGISTERED NUMBER: 05633579 (England and Wales)


SENIOR STATUTORY AUDITOR: Shailesh Patel FCA


AUDITORS: Macalvins Limited
Chartered Accountants
and Statutory Auditors
7 St John's Road
Harrow
Middlesex
HA1 2EY


BANKERS: Barclays Bank
Oxford Circus Branch
15 Great Portland Street
London
W1A 4TR

EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED (REGISTERED NUMBER: 05633579)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 195,911 205,340

CURRENT ASSETS
Debtors 5 1,342,202 1,156,842
Cash at bank and in hand 2,488,910 618,927
3,831,112 1,775,769
CREDITORS
Amounts falling due within one year 6 2,550,493 1,376,313
NET CURRENT ASSETS 1,280,619 399,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,476,530

604,796

PROVISIONS FOR LIABILITIES 10,506 6,383
NET ASSETS 1,466,024 598,413

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Retained earnings 1,316,024 448,413
SHAREHOLDERS' FUNDS 1,466,024 598,413

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





Sir R P Clayton - Director


EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED (REGISTERED NUMBER: 05633579)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

EMC - Energy Market Consultants (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably
- it is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably and
- the costs incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements - 10 years straight line method
Fixtures, fittings & equipment - 20% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. 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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED (REGISTERED NUMBER: 05633579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
Improvements & equipment Totals
£    £    £   
COST
At 1 January 2023 257,291 385,621 642,912
Additions - 27,925 27,925
Disposals - (622 ) (622 )
At 31 December 2023 257,291 412,924 670,215
DEPRECIATION
At 1 January 2023 87,672 349,900 437,572
Charge for year 25,729 11,582 37,311
Eliminated on disposal - (579 ) (579 )
At 31 December 2023 113,401 360,903 474,304
NET BOOK VALUE
At 31 December 2023 143,890 52,021 195,911
At 31 December 2022 169,619 35,721 205,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 740,912 248,809
Amounts owed by group undertakings 552,113 878,095
Other debtors 7,666 3,319
Director's current account - 76
VAT - 4,812
Prepayments and accrued income 41,511 21,731
1,342,202 1,156,842

EMC - ENERGY MARKET CONSULTANTS (UK)
LIMITED (REGISTERED NUMBER: 05633579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Fees received in advance 1,499,307 797,815
Trade creditors 23,327 1,815
Corporation Tax payable 258,713 97,273
Social security and other taxes 154,783 98,015
VAT 9,844 -
Other creditors 38,194 39,734
Credit card 1,416 (1,454 )
Accrued expenses 564,909 343,115
2,550,493 1,376,313

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shailesh Patel FCA (Senior Statutory Auditor)
for and on behalf of Macalvins Limited

8. RELATED PARTY DISCLOSURES

Energy International Limited (BVI) holds the head lease on the building that EMC-Energy Market Consultants (UK) Ltd occupies. There is no formal lease in place between the two parties, however there is an understanding that EMC-Energy Market Consultants (UK) Ltd will pay for all the facilities costs, including ground rent on behalf of Energy International Limited (BVI) as it occupies the building.

EMC-Energy Market Consultants (UK) Ltd and Energy International Limited (BVI) are related by virtue of having a common director.

During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services worth £1,403,659 (2022: £1,130,898) to Facts Global Energy Pte Ltd (Singapore).

As at 31 December 2023 EMC-Energy Market Consultants (UK) Ltd was owed £552,113 (2022: £594,976) by Facts Global Energy Pte Ltd (Singapore).

During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services worth £nil (2022: £18,209) to Facts Global Energy Inc.

As at 31 December 2023 EMC-Energy Market Consultants (UK) Ltd was owed £nil (2022: £18,209) by Facts Global Energy Inc.

During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services worth £nil (2022: £264,910) to Facts Global Energy M.E. DMCC.

As at 31 December 2023 EMC-Energy Market Consultants (UK) Ltd was owed £nil (2022: £264,910) by Facts Global Energy M.E. DMCC. Facts Global Energy M.E. DMCC and FACTS Inc are wholly owned subsidiaries of Facts Global Energy Ltd (Hong Kong).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is MAAT Estates Corporation Limited, OMC Chambers, PO Box 3152, Road Town, Tortola, British Virgin Islands