Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 01435173 Mr Martyn Slawson Mr Philip Slawson Mr Stephen Slawson Mr Barry Slawson Mr Jonathon Richardson EMC Group Limited false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01435173 2023-05-31 01435173 2024-05-31 01435173 2023-06-01 2024-05-31 01435173 frs-core:CurrentFinancialInstruments 2024-05-31 01435173 frs-core:ComputerEquipment 2024-05-31 01435173 frs-core:ComputerEquipment 2023-06-01 2024-05-31 01435173 frs-core:ComputerEquipment 2023-05-31 01435173 frs-core:FurnitureFittings 2023-06-01 2024-05-31 01435173 frs-core:NetGoodwill 2024-05-31 01435173 frs-core:NetGoodwill 2023-06-01 2024-05-31 01435173 frs-core:NetGoodwill 2023-05-31 01435173 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 01435173 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01435173 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 01435173 frs-core:MotorVehicles 2024-05-31 01435173 frs-core:MotorVehicles 2023-06-01 2024-05-31 01435173 frs-core:MotorVehicles 2023-05-31 01435173 frs-core:PlantMachinery 2024-05-31 01435173 frs-core:PlantMachinery 2023-06-01 2024-05-31 01435173 frs-core:PlantMachinery 2023-05-31 01435173 frs-core:CapitalRedemptionReserve 2024-05-31 01435173 frs-core:ShareCapital 2024-05-31 01435173 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 01435173 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01435173 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 01435173 frs-bus:SmallEntities 2023-06-01 2024-05-31 01435173 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01435173 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01435173 1 2023-06-01 2024-05-31 01435173 frs-bus:Director1 2023-06-01 2024-05-31 01435173 frs-bus:Director2 2023-06-01 2024-05-31 01435173 frs-bus:Director3 2023-06-01 2024-05-31 01435173 frs-bus:Director4 2023-06-01 2024-05-31 01435173 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 01435173 frs-countries:EnglandWales 2023-06-01 2024-05-31 01435173 2022-05-31 01435173 2023-05-31 01435173 2022-06-01 2023-05-31 01435173 frs-core:CurrentFinancialInstruments 2023-05-31 01435173 frs-core:CapitalRedemptionReserve 2023-05-31 01435173 frs-core:ShareCapital 2023-05-31 01435173 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 01435173
East Midlands Ceramics Limited
Financial Statements
For The Year Ended 31 May 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01435173
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,863 26,063
Tangible Assets 5 242,980 258,367
255,843 284,430
CURRENT ASSETS
Stocks 6 912,913 943,405
Debtors 7 220,419 323,081
Cash at bank and in hand 133,047 215,817
1,266,379 1,482,303
Creditors: Amounts Falling Due Within One Year 8 (1,025,001 ) (1,028,497 )
NET CURRENT ASSETS (LIABILITIES) 241,378 453,806
TOTAL ASSETS LESS CURRENT LIABILITIES 497,221 738,236
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,263 ) (22,479 )
NET ASSETS 488,958 715,757
CAPITAL AND RESERVES
Called up share capital 9 121 121
Capital redemption reserve 33 33
Profit and Loss Account 488,804 715,603
SHAREHOLDERS' FUNDS 488,958 715,757
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Slawson
Director
29 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
East Midlands Ceramics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01435173 . The registered office is Southglade Business Park, Hucknall Road, Nottingham, Nottinghamshire, NG5 9RA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods . Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 33% Reducing Balance
Computer Equipment 33% Reducing Balance
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 48 (2023: 47)
48 47
4. Intangible Assets
Goodwill & Software
£
Cost
As at 1 June 2023 170,462
As at 31 May 2024 170,462
Amortisation
As at 1 June 2023 144,399
Provided during the period 13,200
As at 31 May 2024 157,599
Net Book Value
As at 31 May 2024 12,863
As at 1 June 2023 26,063
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 14,115 288,088 269,188 563,218 1,134,609
Additions 32,743 1,452 34,801 2,098 71,094
Disposals - (4,750 ) (65,521 ) - (70,271 )
As at 31 May 2024 46,858 284,790 238,468 565,316 1,135,432
Depreciation
As at 1 June 2023 99 200,510 152,099 523,534 876,242
Provided during the period 2,503 22,262 33,040 14,548 72,353
Disposals - (4,750 ) (51,393 ) - (56,143 )
As at 31 May 2024 2,602 218,022 133,746 538,082 892,452
Net Book Value
As at 31 May 2024 44,256 66,768 104,722 27,234 242,980
As at 1 June 2023 14,016 87,578 117,089 39,684 258,367
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6. Stocks
2024 2023
£ £
Finished goods 912,913 943,405
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 189,880 281,927
Prepayments and accrued income 30,539 34,999
Amounts owed by group undertakings - 6,155
220,419 323,081
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 551,062 383,021
Bank loans and overdrafts - 9,649
Corporation tax (17 ) -
Other taxes and social security 25,518 29,661
VAT 201,467 232,368
Other creditors 20,953 17,348
Accruals and deferred income 226,018 356,450
1,025,001 1,028,497
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 121 121
10. Related Party Transactions
During the year the company incured costs of £150,000 (2023 - £150,000) in respect of the rental of property from EMC Group limited.
During the year the company also received income of £10,000 (2023 - £10,000) from EMC Group Limited in the form of management charges.
11. Parent Undertaking and Controlling Party
The company's parent undertaking is EMC Group Limited, which in the oppion of the Directors is also the ultimate parent company.
EMC Group Limited is ultimately controlled by B Slawson
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