Company registration number 05445860 (England and Wales)
EMU TECHNOLOGIES (EUROPE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
EMU TECHNOLOGIES (EUROPE) LTD
COMPANY INFORMATION
Director
Mr DM Hyland
Company number
05445860
Registered office
Unit 4
Sherborne Business Centre
East Mill Lane
Sherborne
Dorset
England
DT9 3DP
Accountants
Hunts Accountants Ltd
The Old Pump House
Oborne Road
Sherborne
Dorset
England
DT9 3RX
EMU TECHNOLOGIES (EUROPE) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
EMU TECHNOLOGIES (EUROPE) LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
11,856
11,856
Tangible assets
4
229,027
143,410
240,883
155,266
Current assets
Stocks
367,229
496,341
Debtors
5
800,354
934,041
Cash at bank and in hand
216,879
277,184
1,384,462
1,707,566
Creditors: amounts falling due within one year
6
(222,561)
(353,148)
Net current assets
1,161,901
1,354,418
Total assets less current liabilities
1,402,784
1,509,684
Creditors: amounts falling due after more than one year
7
(206,596)
(200,320)
Provisions for liabilities
(30,444)
(13,629)
Net assets
1,165,744
1,295,735
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,165,644
1,295,635
Total equity
1,165,744
1,295,735

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

EMU TECHNOLOGIES (EUROPE) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 January 2025
Mr DM Hyland
Director
Company registration number 05445860 (England and Wales)
EMU TECHNOLOGIES (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

EMU Technologies (Europe) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Sherborne Business Centre, East Mill Lane, Sherborne, Dorset, England, DT9 3DP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2005, is being amortised evenly over its estimated useful life of fifteen years.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
nil years
Development costs
nil years
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

EMU TECHNOLOGIES (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
0%
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

EMU TECHNOLOGIES (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
9
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
70,000
83,481
153,481
Amortisation and impairment
At 1 June 2023 and 31 May 2024
70,000
71,625
141,625
Carrying amount
At 31 May 2024
-
0
11,856
11,856
At 31 May 2023
-
0
11,856
11,856
EMU TECHNOLOGIES (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2023
88,634
160,011
248,645
Additions
17,979
140,565
158,544
Disposals
-
0
(75,600)
(75,600)
At 31 May 2024
106,613
224,976
331,589
Depreciation and impairment
At 1 June 2023
-
0
105,235
105,235
Depreciation charged in the year
-
0
41,033
41,033
Eliminated in respect of disposals
-
0
(43,706)
(43,706)
At 31 May 2024
-
0
102,562
102,562
Carrying amount
At 31 May 2024
106,613
122,414
229,027
At 31 May 2023
88,634
54,776
143,410
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
274,991
528,376
Amounts owed by group undertakings
270,253
270,253
Other debtors
255,110
135,412
800,354
934,041
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
111,398
111,346
Trade creditors
75,037
69,028
Taxation and social security
6,160
108,802
Other creditors
29,966
63,972
222,561
353,148
EMU TECHNOLOGIES (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
100,160
200,320
Other creditors
106,436
-
0
206,596
200,320
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
108,584
118,277
(38,495)
188,366
108,584
118,277
(38,495)
188,366
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