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REGISTERED NUMBER: SC229133 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

EMN Plant Limited

EMN Plant Limited (Registered number: SC229133)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EMN Plant Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: E F W Nicolson
C E Nicolson
M J A Nicolson





SECRETARY: E F W Nicolson





REGISTERED OFFICE: Sella Ness
Graven
Shetland
ZE2 9UP





REGISTERED NUMBER: SC229133 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

EMN Plant Limited (Registered number: SC229133)

Balance Sheet
31 March 2024

31.3.24 31.3.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 344,068 370,525
Tangible assets 5 5,896,656 5,151,034
Investments 6 234,437 234,061
6,475,161 5,755,620

CURRENT ASSETS
Stocks 2,368,996 896,923
Debtors 7 1,324,832 1,176,375
Cash at bank 931,494 248,286
4,625,322 2,321,584
CREDITORS
Amounts falling due within one year 8 2,305,701 1,910,844
NET CURRENT ASSETS 2,319,621 410,740
TOTAL ASSETS LESS CURRENT LIABILITIES 8,794,782 6,166,360

CREDITORS
Amounts falling due after more than one
year

9

(906,800

)

(1,051,956

)

PROVISIONS FOR LIABILITIES (872,877 ) (151,265 )
NET ASSETS 7,015,105 4,963,139

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 10 64,487 64,111
Retained earnings 6,920,618 4,869,028
SHAREHOLDERS' FUNDS 7,015,105 4,963,139

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.

EMN Plant Limited (Registered number: SC229133)

Balance Sheet - continued
31 March 2024


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 15 November 2024 and were signed on its behalf by:




E F W Nicolson - Director C E Nicolson - Director




M J A Nicolson - Director


EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

EMN Plant Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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.

Long leasehold is being amortised evenly over its estimated useful life of twenty years.

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 and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 39 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Long
leasehold
£   
COST
At 1 April 2023
and 31 March 2024 529,143
AMORTISATION
At 1 April 2023 158,618
Amortisation for year 26,457
At 31 March 2024 185,075
NET BOOK VALUE
At 31 March 2024 344,068
At 31 March 2023 370,525

EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 540,908 8,611,224 27,471
Additions 31,006 1,799,102 -
Disposals (84,731 ) (773,212 ) -
At 31 March 2024 487,183 9,637,114 27,471
DEPRECIATION
At 1 April 2023 85,577 4,062,271 23,262
Charge for year 7,404 761,806 1,052
Eliminated on disposal (48,485 ) (354,170 ) -
At 31 March 2024 44,496 4,469,907 24,314
NET BOOK VALUE
At 31 March 2024 442,687 5,167,207 3,157
At 31 March 2023 455,331 4,548,953 4,209

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 418,223 52,874 9,650,700
Additions 195,833 11,227 2,037,168
Disposals (69,515 ) - (927,458 )
At 31 March 2024 544,541 64,101 10,760,410
DEPRECIATION
At 1 April 2023 284,592 43,964 4,499,666
Charge for year 51,915 9,597 831,774
Eliminated on disposal (65,031 ) - (467,686 )
At 31 March 2024 271,476 53,561 4,863,754
NET BOOK VALUE
At 31 March 2024 273,065 10,540 5,896,656
At 31 March 2023 133,631 8,910 5,151,034

EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 3,540,329 44,555 3,584,884
Additions 1,089,781 74,148 1,163,929
Disposals (401,371 ) - (401,371 )
Transfer to ownership (973,044 ) (28,182 ) (1,001,226 )
At 31 March 2024 3,255,695 90,521 3,346,216
DEPRECIATION
At 1 April 2023 810,732 5,855 816,587
Charge for year 348,216 10,112 358,328
Eliminated on disposal (132,630 ) - (132,630 )
Transfer to ownership (305,023 ) (1,761 ) (306,784 )
At 31 March 2024 721,295 14,206 735,501
NET BOOK VALUE
At 31 March 2024 2,534,400 76,315 2,610,715
At 31 March 2023 2,729,597 38,700 2,768,297

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 234,061
Revaluations 376
At 31 March 2024 234,437
NET BOOK VALUE
At 31 March 2024 234,437
At 31 March 2023 234,061

EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2017 22,881
Valuation in 2018 5,533
Valuation in 2019 5,577
Valuation in 2020 (10,052 )
Valuation in 2021 16,617
Valuation in 2022 20,516
Valuation in 2023 3,039
Valuation in 2024 376
Cost 169,950
234,437

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
as restated
£    £   
Cost 169,950 169,950

Fixed asset investments were valued on an open market basis on 31 March 2024 by the Prudential Assurance Company Limited .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Trade debtors 764,440 755,573
Other debtors 560,392 420,802
1,324,832 1,176,375

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Hire purchase contracts 1,043,301 1,039,196
Trade creditors 920,182 495,656
Taxation and social security 74,074 155,818
Other creditors 268,144 220,174
2,305,701 1,910,844

EMN Plant Limited (Registered number: SC229133)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Hire purchase contracts 491,203 615,696
Other creditors 415,597 436,260
906,800 1,051,956

Amounts falling due in more than five years:

Repayable by instalments
Preference shares 300,000 300,000

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 64,111
Bonds 376

At 31 March 2024 64,487