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REGISTERED NUMBER: 05040772 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

EMSEA LIMITED

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EMSEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: M Causer
C W Sweet





SECRETARY: M Causer





REGISTERED OFFICE: Unit 5 Green Lane
Tewkesbury
Gloucestershire
GL20 8HD





REGISTERED NUMBER: 05040772 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - 750
Tangible assets 4 2,045,529 1,964,419
2,045,529 1,965,169

CURRENT ASSETS
Stocks 111,957 151,379
Debtors 5 896,468 922,040
Cash at bank and in hand 721,099 772,240
1,729,524 1,845,659
CREDITORS
Amounts falling due within one year 6 1,410,540 1,465,916
NET CURRENT ASSETS 318,984 379,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,364,513

2,344,912

CREDITORS
Amounts falling due after more than one
year

7

(510,450

)

(535,986

)

PROVISIONS FOR LIABILITIES (445,085 ) (413,629 )
NET ASSETS 1,408,978 1,395,297

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,308,978 1,295,297
1,408,978 1,395,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

BALANCE SHEET - continued
31 JULY 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 22 January 2025 and were signed on its behalf by:




M Causer - Director



C W Sweet - Director


EMSEA LIMITED (REGISTERED NUMBER: 05040772)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, 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.
Improvements to property - 5% on cost
Plant and machinery - 10% on reducing balance and 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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

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 that have been enacted or substantively enacted by the balance sheet date.

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.

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


1. ACCOUNTING POLICIES - continued

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 51 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 15,000
AMORTISATION
At 1 August 2023 14,250
Amortisation for year 750
At 31 July 2024 15,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 750

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 453,641 2,293,449 154,299 8,490 2,909,879
Additions - 323,566 13,649 - 337,215
Disposals - (202,100 ) - - (202,100 )
At 31 July 2024 453,641 2,414,915 167,948 8,490 3,044,994
DEPRECIATION
At 1 August 2023 121,919 706,912 110,210 6,419 945,460
Charge for year 22,682 172,789 23,247 518 219,236
Eliminated on disposal - (165,231 ) - - (165,231 )
At 31 July 2024 144,601 714,470 133,457 6,937 999,465
NET BOOK VALUE
At 31 July 2024 309,040 1,700,445 34,491 1,553 2,045,529
At 31 July 2023 331,722 1,586,537 44,089 2,071 1,964,419

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2023 1,455,970
Additions 257,205
At 31 July 2024 1,713,175
DEPRECIATION
At 1 August 2023 246,916
Charge for year 146,001
At 31 July 2024 392,917
NET BOOK VALUE
At 31 July 2024 1,320,258
At 31 July 2023 1,209,054

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 866,049 883,546
Other debtors 30,419 38,494
896,468 922,040

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 216,415 218,333
Trade creditors 662,194 686,149
Amounts owed to group undertakings 297,709 377,709
Taxation and social security 208,087 151,475
Other creditors 26,135 32,250
1,410,540 1,465,916

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 510,450 535,986

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 216,415 218,333
Between one and five years 510,450 535,986
726,865 754,319

Non-cancellable operating leases
2024 2023
£    £   
Within one year 141,649 153,920
Between one and five years 222,156 313,861
In more than five years 120,833 170,833
484,638 638,614

EMSEA LIMITED (REGISTERED NUMBER: 05040772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 726,865 754,319

Hire purchase liabilities are secured on the assets to which they relate.

There is a cross guarantee of obligations between Emsea Limited and Emsea Group Limited.

10. RELATED PARTY DISCLOSURES

Emsea Limited used premises owned by a director, and was charged rent of £50,000 (2022 - £50,000).

11. ULTIMATE CONTROLLING PARTY

No single individual has overall control of the ultimate parent company.