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REGISTERED NUMBER: 12679138 (England and Wales)















EMRECO LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






EMRECO LIMITED (REGISTERED NUMBER: 12679138)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EMRECO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: S J Cashmore
C A Cashmore





REGISTERED OFFICE: Tong Road Business Park
Amberley Road
Leeds
West Yorkshire
LS12 4BF





REGISTERED NUMBER: 12679138 (England and Wales)





AUDITORS: DSC Accountants Ltd
Chartered Accountants
Statutory Auditors
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

EMRECO LIMITED (REGISTERED NUMBER: 12679138)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 15,000 30,000

CURRENT ASSETS
Stocks 334,267 537,139
Debtors 4 123,746 89,626
Cash at bank 94,840 11,915
552,853 638,680
CREDITORS
Amounts falling due within one year 5 454,377 606,770
NET CURRENT ASSETS 98,476 31,910
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,476

61,910

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 113,376 61,810
113,476 61,910

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 Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





S J Cashmore - Director


EMRECO LIMITED (REGISTERED NUMBER: 12679138)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Brands and Other intangible assets - 20% on cost

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

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

EMRECO LIMITED (REGISTERED NUMBER: 12679138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 75,000
AMORTISATION
At 1 February 2023 45,000
Charge for year 15,000
At 31 January 2024 60,000
NET BOOK VALUE
At 31 January 2024 15,000
At 31 January 2023 30,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 112,717 87,001
Other debtors 11,029 2,625
123,746 89,626

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,220 13,787
Amounts owed to group undertakings 329,534 521,974
Taxation and social security 101,311 63,266
Other creditors 15,312 7,743
454,377 606,770

EMRECO LIMITED (REGISTERED NUMBER: 12679138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
The group became a medium sized company for the first time for the year ended 31 January 2024 and so was required to prepare group accounts. This company has not been previously audited and as such, we were unable to satisfy ourselves concerning the opening stock quantities which are included on the balance sheet at £537,139. We were unable to determine if any adjustment to this amount was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 January 2024.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Graham French (Senior Statutory Auditor)
for and on behalf of DSC Accountants Ltd