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REGISTERED NUMBER: 13979190 (England and Wales)


EMC Management Limited
Trading as
Sturla Car Repairs &
Magpie Service Station

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


EMC Management Limited
Trading as Sturla Car Repairs &
Magpie Service Station

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr M Coruh
Mr E Coral
Mr A C Kaman
Mr I M Unsal





SECRETARY:





REGISTERED OFFICE: 128 Magpie Hall Road
Chatham
Kent
ME4 5 XJ





REGISTERED NUMBER: 13979190 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
EMC Management Limited

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EMC Management Limited for the year ended 31 March 2024 which comprise the Abridged Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of EMC Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of EMC Management Limited and state those matters that we have agreed to state to the Board of Directors of EMC Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EMC Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that EMC Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of EMC Management Limited. You consider that EMC Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of EMC Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


11 October 2024

EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 142,917 160,417
Property, plant and equipment 5 64,616 20,869
207,533 181,286

CURRENT ASSETS
Inventories 7,144 17,934
Debtors 6 57,149 19,373
Cash at bank and in hand 14,732 29,882
79,025 67,189
CREDITORS
Amounts falling due within one year 7 351,879 285,987
NET CURRENT LIABILITIES (272,854 ) (218,798 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(65,321

)

(37,512

)

CREDITORS
Amounts falling due after more than one
year

8

(22,582

)

-

PROVISIONS FOR LIABILITIES 9 (12,277 ) -
NET LIABILITIES (100,180 ) (37,512 )

EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 3,000 3,000
Retained earnings 11 (103,180 ) (40,512 )
SHAREHOLDERS' FUNDS (100,180 ) (37,512 )

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

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

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





Mr I M Unsal - Director


EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

EMC Management 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the ordinary trading activities of the business and is recognised when the customers obtain the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 13 ) .

EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 175,000
AMORTISATION
At 1 April 2023 14,583
Charge for year 17,500
At 31 March 2024 32,083
NET BOOK VALUE
At 31 March 2024 142,917
At 31 March 2023 160,417

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 April 2023 23,648
Additions 50,965
At 31 March 2024 74,613
DEPRECIATION
At 1 April 2023 2,779
Charge for year 7,218
At 31 March 2024 9,997
NET BOOK VALUE
At 31 March 2024 64,616
At 31 March 2023 20,869

EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 35,345
At 31 March 2024 35,345
NET BOOK VALUE
At 31 March 2024 35,345

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,560 2,995
Other debtors 50,589 16,378
57,149 19,373

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,782 -
Trade creditors 39,452 13,264
Amounts owed to associates 59,105 22,573
Taxation and social security 10,621 25,932
Other creditors 230,919 224,218
351,879 285,987

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 22,582 -

EMC Management Limited (Registered number: 13979190)
Trading as Sturla Car Repairs &
Magpie Service Station

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,277 -

Deferred
tax
£   
Provided during year 12,277
Balance at 31 March 2024 12,277

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Ordinary £1 3,000 3,000

11. RESERVES
Retained
earnings
£   

At 1 April 2023 (40,512 )
Deficit for the year (62,668 )
At 31 March 2024 (103,180 )

12. RELATED PARTY DISCLOSURES

Included in creditors are amounts owed to a company under common control of £220,985 (2023: £221,741) at balance sheet date. No interest is charged on this balance and it is repayable on demand.

Included in creditors are amounts owed to associated companies of £59,105 (2023: £22,573) at balance sheet date. No interest is charged on these balances and they are repayable on demand.