Company Registration No. SC322418 (Scotland)
EMV Contract Services Limited
Unaudited accounts
for the year ended 31 March 2024
EMV Contract Services Limited
Unaudited accounts
Contents
EMV Contract Services Limited
Company Information
for the year ended 31 March 2024
Company Number
SC322418 (Scotland)
Registered Office
33 Station Park
Baillieston
Glasgow
G69 7XY
Accountants
Armet Accounting Ltd
Room 31
Haypark Business Centre
Polmont
FK2 0NZ
EMV Contract Services Limited
Statement of financial position
as at 31 March 2024
Tangible assets
6,426
8,033
Cash at bank and in hand
285,841
280,027
Creditors: amounts falling due within one year
(23,928)
(32,732)
Net current assets
276,457
278,258
Total assets less current liabilities
282,883
286,291
Provisions for liabilities
Deferred tax
(1,703)
(2,099)
Net assets
281,180
284,192
Called up share capital
1
1
Profit and loss account
281,179
284,191
Shareholders' funds
281,180
284,192
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Edward McVey
Director
Company Registration No. SC322418
EMV Contract Services Limited
Notes to the Accounts
for the year ended 31 March 2024
EMV Contract Services Limited is a private company, limited by shares, registered in Scotland, registration number SC322418. The registered office is 33 Station Park, Baillieston, Glasgow, G69 7XY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
EMV Contract Services Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
4,998
21,264
26,262
At 31 March 2024
4,998
21,264
26,262
At 1 April 2023
2,699
15,530
18,229
Charge for the year
460
1,147
1,607
At 31 March 2024
3,159
16,677
19,836
At 31 March 2024
1,839
4,587
6,426
At 31 March 2023
2,299
5,734
8,033
Amounts falling due within one year
Other debtors
14,544
12,423
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
17,526
25,121
7
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
18,700
-
EMV Contract Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan
12,423
24,662
24,492
12,593
12,423
24,662
24,492
12,593
As at 31 March 2024, the company has advanced the director a total of £12,593 (2023: £12,423). This loan has since been paid back in full. Interest has been charged at a rate of 2.25% per annum on this loan.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).