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Registration number: 10413419

Emerald Industrial Electronics Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Emerald Industrial Electronics Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Emerald Industrial Electronics Limited

(Registration number: 10413419)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

212,353

216,319

Current assets

 

Stocks

37,010

22,681

Debtors

5

4,853

2,753

Cash at bank and in hand

 

16,610

6,768

 

58,473

32,202

Creditors: Amounts falling due within one year

6

(34,806)

(37,914)

Net current assets/(liabilities)

 

23,667

(5,712)

Total assets less current liabilities

 

236,020

210,607

Creditors: Amounts falling due after more than one year

6

(375,000)

(375,000)

Net liabilities

 

(138,980)

(164,393)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(139,080)

(164,493)

Shareholders' deficit

 

(138,980)

(164,393)

 

Emerald Industrial Electronics Limited

(Registration number: 10413419)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors Report and Profit and Loss Account has been taken.

Approved and authorised by the director on 15 October 2024
 

.........................................
Mr M Terras
Director

 

Emerald Industrial Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the director. The director considers that these facilities will continue to be made available to the company. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Emerald Industrial Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight-line over 100 years (Exc. Land)

Fixtures and fittings

20% diminishing balance

Plant and machinery

20% diminishing balance

Office equipment

Straight-line over 5 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Emerald Industrial Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 March 2023

205,471

10,624

22,095

527

Additions

-

-

-

2,226

Disposals

-

(2,534)

(12,222)

-

At 29 February 2024

205,471

8,090

9,873

2,753

Depreciation

At 1 March 2023

3,534

1,550

16,786

527

Charge for the year

1,793

1,679

1,061

491

Eliminated on disposal

-

-

(13,587)

-

At 29 February 2024

5,327

3,229

4,260

1,018

Carrying amount

At 29 February 2024

200,144

4,861

5,613

1,735

At 28 February 2023

201,936

9,074

5,309

-

Total
£

Cost or valuation

At 1 March 2023

238,717

Additions

2,226

Disposals

(14,756)

At 29 February 2024

226,187

Depreciation

At 1 March 2023

22,397

Charge for the year

5,024

Eliminated on disposal

(13,587)

At 29 February 2024

13,834

Carrying amount

At 29 February 2024

212,353

At 28 February 2023

216,319

 

Emerald Industrial Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,853

2,753

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

98

98

Taxation and social security

4,562

2,977

Other creditors

30,146

34,839

34,806

37,914

Due after one year

Other creditors

375,000

375,000