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REGISTERED NUMBER: 08861350 (England and Wales)















EMG IT SERVICES LIMITED

Unaudited Financial Statements For The Year Ended 31 January 2024






EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

EMG IT SERVICES LIMITED

Company Information
For The Year Ended 31 January 2024







DIRECTOR: W G C Stewart





SECRETARY:





REGISTERED OFFICE: Collingwood Buildings
38 Collingwood Street
Newcastle upon Tyne
Tyne and Wear
NE1 1JF





REGISTERED NUMBER: 08861350 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 953 707

CURRENT ASSETS
Debtors 5 7,962 8,558
Cash at bank 4,254 5,222
12,216 13,780
CREDITORS
Amounts falling due within one year 6 11,349 11,223
NET CURRENT ASSETS 867 2,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,820

3,264

CREDITORS
Amounts falling due after more than one
year

7

(1,629

)

(3,030

)

PROVISIONS FOR LIABILITIES 9 (181 ) (134 )
NET ASSETS 10 100

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (990 ) (900 )
SHAREHOLDERS' FUNDS 10 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 10 September 2024 and were signed by:





W G C Stewart - Director


EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

EMG IT Services 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.

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.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company. The revenue is recognised on the raising of a sales invoice on completion of work or on expected selling price on work part completed at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on 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.

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.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 74 1,360 1,434
Additions - 508 508
At 31 January 2024 74 1,868 1,942
DEPRECIATION
At 1 February 2023 19 708 727
Charge for year 6 256 262
At 31 January 2024 25 964 989
NET BOOK VALUE
At 31 January 2024 49 904 953
At 31 January 2023 55 652 707

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,785 8,531
Other debtors 177 27
7,962 8,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,678 1,600
Trade creditors 4,223 3,801
Taxation and social security 1,567 1,919
Other creditors 3,881 3,903
11,349 11,223

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,629 3,030

8. FINANCIAL INSTRUMENTS

Debtors are shown at their impaired value (i.e. less doubtful debts) and trade creditors are at their carrying value.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 181 134

EMG IT SERVICES LIMITED (REGISTERED NUMBER: 08861350)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 134
Provided during year 47
Balance at 31 January 2024 181

10. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

EMG IT SERVICES LIMITED

Report of the Accountants to the Director of
EMG IT Services Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


11 September 2024