Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10824647 Mr Christopher Marshall Mr Jason Galvin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10824647 2023-05-31 10824647 2024-05-31 10824647 2023-06-01 2024-05-31 10824647 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10824647 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10824647 frs-core:ShareCapital 2024-05-31 10824647 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10824647 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10824647 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 10824647 frs-bus:SmallEntities 2023-06-01 2024-05-31 10824647 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10824647 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10824647 frs-bus:OrdinaryShareClass2 2023-06-01 2024-05-31 10824647 frs-bus:OrdinaryShareClass2 2024-05-31 10824647 frs-bus:OrdinaryShareClass3 2023-06-01 2024-05-31 10824647 frs-bus:OrdinaryShareClass3 2024-05-31 10824647 1 2023-06-01 2024-05-31 10824647 frs-bus:Director1 2023-06-01 2024-05-31 10824647 frs-bus:Director2 2023-06-01 2024-05-31 10824647 frs-countries:EnglandWales 2023-06-01 2024-05-31 10824647 2022-05-31 10824647 2023-05-31 10824647 2022-06-01 2023-05-31 10824647 frs-core:ShareCapital 2023-05-31 10824647 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10824647 frs-bus:OrdinaryShareClass2 2022-06-01 2023-05-31 10824647 frs-bus:OrdinaryShareClass3 2022-06-01 2023-05-31
Registered number: 10824647
EMGEE PARTNERSHIP LIMITED
ABRIDGED Financial Statements
For The Year Ended 31 May 2024
John A. Porter & Co.
74 Dickenson Road
Rusholme
Manchester
M14 5HF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10824647
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 490,173 480,201
490,173 480,201
CURRENT ASSETS
Debtors 9,839 112,579
Cash at bank and in hand 10,039 84,007
19,878 196,586
Creditors: Amounts Falling Due Within One Year (199,438 ) (294,264 )
NET CURRENT ASSETS (LIABILITIES) (179,560 ) (97,678 )
TOTAL ASSETS LESS CURRENT LIABILITIES 310,613 382,523
NET ASSETS 310,613 382,523
CAPITAL AND RESERVES
Called up share capital 5 2 2
Profit and Loss Account 310,611 382,521
SHAREHOLDERS' FUNDS 310,613 382,523
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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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 14 August 2024 and were signed on its behalf by:
Mr Christopher Marshall
Director
14 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
EMGEE PARTNERSHIP LIMITED is a private company, limited by shares, incorporated in England & Wales.
The registered number is 10824647 .
The registered office is 74 Dickenson Road, Rusholme, Manchester, M14 5HF.
Dividends paid to the directors are reported in the notes to the accounts.
Related party transactions are reported in the notes to the accounts.
There are no other related party transactions to report.
There are no contingent liabilities or post balance sheet events to report.
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
The turnover shown in the profit and loss account represents rents receivable. The Company is not Value Added Tax (VAT) registered.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation.
Depreciation will be calculated at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
No depreciation will be provided in the year of acquisition.
2.4. Investment Properties
The Investment property is shown at open market value.
The surplus or deficit arising from the revaluation at each year or period end date is dealt with through profit and loss account.
No depreciation is provided on investment property.
2.5. Accounting Reference Date
The accounting reference date is 30 May.
These accounts are nevertheless for the year ended 31 May 2024.
2.6. Comparative Figures
The comparative figures used throughout these accounts are as at 31 May 2023 or are for the year ended on that date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, who are employed under a contract of service during the year was as follows: NIL (2023: NIL)
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4. Tangible Assets
Total
£
Cost or Valuation
As at 1 June 2023 480,314
Additions 412
Revaluation 9,600
As at 31 May 2024 490,326
Depreciation
As at 1 June 2023 113
Provided during the period 40
As at 31 May 2024 153
Net Book Value
As at 31 May 2024 490,173
As at 1 June 2023 480,201
Cost or valuation as at 31 May 2024 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost - 726 726
At valuation 489,600 - 489,600
489,600 726 490,326
5. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
2 2
6. Related Party Transactions
The Company has one investment property which was acquired on 31 October 2017 for a consideration of £205,099 including buying costs. Following renovation, the property is now being rented out to Galvin Projects Limited, Tool Services Limited and other third parties.
The rents being charged are £1,800 per month (2023 £1,800 per month) to Tool Services Limited and £500 per month (2023 £500 per month) to Galvin Projects Limited. The rents being charged, in the opinion of the directors, equate to open-market rates.
Galvin Projects Limited is owned and controlled by Mr Jason Galvin and his wife, Mrs Joanna Galvin with each owning one half of the issued share capital.
Tool Services Limited was owned and controlled by Mr Jason Galvin and Mr Christopher Marshall with each owning one half of the issued share capital.
The rental agreement with Tool Services Limited was terminated in August 2023 with Tool Services Limited having become insolvent and entering into liquidation in October 2023.
Creditors include the amount paid by Galvin Projects Ltd to eMGee Partnership Limited to fund the acquisition totalling £290,829. Rents charged totalling £6,000 (2023 £6,000) have been set against this balance. In addition a repayment was made to Galvin Projects Ltd in the year of £75,251 (2023 £Nil) and the amount due as at 31 May 2024 is then £181,578 (2023 £262,829).
...CONTINUED
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6. Related Party Transactions - continued
Debtors include the amount due from Tool Services Limited and is inclusive of the consideration due from Tool Services Limited for the business assets injected totalling £80,000. The trade of Tool Services Limited has been badly affected by the Covid-19 pandemic. The business became insolvent in the summer of 2023 and appointed liquidators in October 2023. Some 12 months later it is not envisaged that any of the debt (which is unsecured) will be recovered.
The transactions are then summarised as follows: Balance brought forward £112,350 (2023 £90,750). Rents charged totalling £5,400 (2023 £21,600). Monies Repaid £Nil (2023 £Nil). Bad Debt Provision £117,750 (2023 £Nil). Balance carried forward £Nil (2023 £112,350).
7. Ultimate Controlling Party
The Company was controlled throughout the year by Mr Jason Galvin who held 1 £1 A Ordinary Share and Mr Christopher Marshall who held 1 £1 B Ordinary Share, there being 2 £1 Ordinary Shares in issue.
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