EMC Services Limited Filleted Accounts Cover
EMC Services Limited
Company No. 03672520
Information for Filing with The Registrar
31 December 2023
EMC Services Limited Balance Sheet Registrar
at
31 December 2023
Company No.
03672520
Notes
2023
2022
£
£
Fixed assets
Intangible assets
4
3,0006,000
Tangible assets
5
594699
Investments
6
509,957509,957
513,551516,656
Current assets
Cash at bank and in hand
62,415131,289
62,415131,289
Creditors: Amount falling due within one year
7
(137,566)
(217,178)
Net current liabilities
(75,151)
(85,889)
Total assets less current liabilities
438,400430,767
Net assets
438,400430,767
Capital and reserves
Called up share capital
100100
Profit and loss account
9
438,300430,667
Total equity
438,400430,767
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 12 September 2024 and signed on its behalf by:
M.W. Culley
N.M. English
Director
Director
12 September 2024
12 September 2024
EMC Services Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
EMC Services Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 03672520
Its registered office is:
Units 60-61
Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Leasehold land and buildings
15% Reducing balance
Plant and machinery
15% Reducing balance
Furniture, fittings and equipment
15% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Investments in subsidiary undertakings are recognised at cost. Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
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 payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
66
4
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 1 January 2023
15,00015,000
At 31 December 2023
15,00015,000
Amortisation and impairment
At 1 January 2023
9,0009,000
Charge for the year
3,0003,000
At 31 December 2023
12,00012,000
Net book values
At 31 December 2023
3,0003,000
At 31 December 2022
6,0006,000
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.
5
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 January 2023
1,5873,0366,43711,060
At 31 December 2023
1,5873,0366,43711,060
Depreciation
At 1 January 2023
1,4772,7466,13810,361
Charge for the year
174345105
At 31 December 2023
1,4942,7896,18310,466
Net book values
At 31 December 2023
93247254594
At 31 December 2022
110
290
299
699
6
Investments
Investment in Subsidiaries
Shares in group companies
£
£
Cost or valuation
At 1 January 2023
509,957
509,957
At 31 December 2023
509,957
509,957
Provisions/Impairment
Net book values
At 31 December 2023
509,957
509,957
At 31 December 2022
509,957
509,957
The company's investments at the Balance Sheet date in the share capital of companies include the following:
ASIC SA
Registered office: Prateo, Av. de Lavaux 65, Case postale, CH-1009 Pully, Switzerland.
Nature of business: Wholesale tool distribution
Class of shares and percentage holding: Ordinary, 100%
2023
2022
£
£
Aggregate capital and reserves
659,000
630,000
Profit for the year
29,000
49,000
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
75,475
178,185
Taxes and social security
57,588
36,493
Other creditors
2,003-
Accruals and deferred income
2,5002,500
137,566217,178
8
Share Capital
100 ordinary shares of £1 each
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Related party disclosures
Transactions with related parties
During the year, total dividends of £3,000 (2022 - £6,000) were paid to the directors. The directors have provided personal guarantees to secure bank borrowings to a maximum of £20,000. During the year, the company traded with its subsidiary, ASIC SA. The aggregate values of transactions were management fees received of £485,844 (2022 - £369,279). At the accounting date, there was a liability to the subsidiary of £75,474 (2022 - £178,158), included in other creditors.
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