Emertec Ltd
Registered number: 06553916
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 50,367 107,709
Cash at bank and in hand 90,130 30,170
140,497 137,879
Creditors: amounts falling due within one year 5 (111,224) (52,079)
Net current assets 29,273 85,800
Total assets less current liabilities 29,273 85,800
Creditors: amounts falling due after more than one year 6 (19,066) (28,307)
Net assets 10,207 4,450
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,107 4,350
Shareholders' funds 10,207 4,450
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Linda Elisha
Director
Approved by the board on 7 January 2025
Emertec Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2023 10,265
At 31 October 2024 10,265
Depreciation
At 1 November 2023 10,265
At 31 October 2024 10,265
Net book value
At 31 October 2024 -
4 Debtors 2024 2023
£ £
Trade debtors 50,367 106,483
Other debtors - 1,226
50,367 107,709
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 173
Trade creditors 22,641 32,650
Corporation tax 29,013 17,003
Other taxes and social security costs 3,503 (374)
Other creditors 56,067 2,627
111,224 52,079
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,066 28,307
7 Related party transactions
All transactions with the director were conducted under normal market conditions.
8 Controlling party
The ultimate controlling party is Linda Elisha & Anthony Lambert
9 Other information
Emertec Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Fonthill Road
Hove Business Centre
Hove
BN3 6HA
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