REGISTERED NUMBER: |
Emerald Elevators Limited |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
REGISTERED NUMBER: |
Emerald Elevators Limited |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
Emerald Elevators Limited (Registered number: 06055391) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Emerald Elevators Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Emerald Elevators Limited (Registered number: 06055391) |
Statement of Financial Position |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Inventories |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Emerald Elevators Limited (Registered number: 06055391) |
Statement of Financial Position - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Emerald Elevators Limited (Registered number: 06055391) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Emerald Elevators Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements - going concern |
When preparing the financial statements, the directors have assessed whether there are significant doubts about the company's ability to continue as a going concern. There are no material uncertainties of which the director is aware in making his assessment. |
Other debtors include £193,028 owed by the directors and they have indicated that repayment will be made to ensure cash flow is not affected. They consider that the company has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, the directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future and they continue to adopt the going concern basis for preparing these financial statements. |
Income recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Stock and long-term contracts |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties. |
Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. |
Emerald Elevators Limited (Registered number: 06055391) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date. |
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 by the year end. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Emerald Elevators Limited (Registered number: 06055391) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
The net book value includes £62,956 (2023 : £96,389) for assets held under hire purchase and finance leases. |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts recoverable on contracts |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts and finance leases |
Trade creditors |
Taxation and social security |
Other creditors |
Emerald Elevators Limited (Registered number: 06055391) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts and finance leases |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts and finance leases | 60,519 | 91,883 |
Hire purchase and finance lease liabilities are secured on the relevant asset. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary "A" | 1 | 100 | 100 |
Ordinary "B" | 1 | 1 | 1 |
101 | 101 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |