Emdells Holdings Limited |
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Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the receipt of rents, dividends, bank interest and sale of investments. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
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Plant and machinery |
20% reducing balance |
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Investments |
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Investments in quoted equity instruments are measured at transaction price (which is usually the cost), less any impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax assets and liabilities are not discounted. |
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31st March |
31st March |
2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery |
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Total |
£ |
£ |
£ |
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Cost |
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Transferred from subsidiary company |
800,000 |
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6,799 |
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806,799 |
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At 31 March 2024 |
800,000 |
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6,799 |
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806,799 |
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Depreciation |
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Transferred from subsidiary company |
- |
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3,400 |
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3,400 |
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Charge for the year |
- |
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1,700 |
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1,700 |
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At 31 March 2024 |
- |
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5,100 |
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5,100 |
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Net book value |
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At 31 March 2024 |
800,000 |
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1,699 |
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801,699 |
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4 |
Investments |
Other |
investments |
£ |
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Cost |
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Additions |
104 |
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Disposals |
(102) |
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At 31 March 2024 |
2 |
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31st March |
31st March |
5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Amount owed by subsidiary undertaking |
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- |
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13,941 |
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Other debtors |
2,405 |
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- |
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2,405 |
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13,941 |
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6 |
Creditors: amounts falling due within one year |
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Other creditors |
- |
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4 |
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Amount owed to subsidiary company |
45,188 |
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25,264 |
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Corporation tax |
24,000 |
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- |
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Accrued expenses |
11,913 |
|
320 |
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81,101 |
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25,588 |
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31st March |
31st March |
7 |
Related party transactions |
2024 |
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2023 |
£ |
£ |
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Mr JP Naylor |
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Director |
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Monies owed by the director, JP Naylor at the year end |
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The loan is interest free |
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Amount due by the related party |
2,405 |
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- |
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Emdells Limited - Bahamas |
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Connected company |
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Mr JP Naylor, directors held the beneficial |
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interest in this business throughout the year and the previous year. |
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Assets and liabilities totalling £773857 have been transferred from |
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Emdells Limited - Bahamas on 1st April 2023. |
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Loans from the subsidiary company totalling £759916 have |
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been written off during the year |
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Amount due by the related party |
- |
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13,941 |
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Emdells Limited |
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Connected company |
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Mr JP Naylor, directors held the beneficial |
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interest in this business throughout the year and the previous year. |
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Amount due to the related party |
(45,188) |
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(25,264) |
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8 |
Other information |
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Emdells Holdings Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: |
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33a Castle Close |
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Hawarden |
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Deeside |
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CH5 QX |