Company Registration No. 05866893 (England and Wales)
Emerald Network Ltd
Unaudited accounts
for the year ended 31 July 2024
Emerald Network Ltd
Unaudited accounts
Contents
Emerald Network Ltd
Company Information
for the year ended 31 July 2024
Directors
Dr John Colvin
Mr Keiran J. Colvin
Ms Ann C. McDonagh
Company Number
05866893 (England and Wales)
Registered Office
TOWN HALL OLD BRISTOL ROAD
NAILSWORTH
NR STROUD
GLOUCESTERSHIRE
SL6 0JF
Accountants
M. W. Jefferies FFA/FIPA, FMAAT, FCPA, FAIA
Accountants & Taxation Agents Ltd
The Town Hall, Old Bristol Road
Nailsworth, Stroud
Gloucestershire
GL6 0JF
Emerald Network Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
9,288
10,678
Cash at bank and in hand
37,683
30,921
Creditors: amounts falling due within one year
(62,526)
(66,948)
Net current liabilities
(9,258)
(7,450)
Called up share capital
2
2
Profit and loss account
28
3,226
Shareholders' funds
30
3,228
For the year ending 31 July 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 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 of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by
Ms Ann C. McDonagh
Director
Company Registration No. 05866893
Emerald Network Ltd
Notes to the Accounts
for the year ended 31 July 2024
Emerald Network Ltd is a private company, limited by shares, registered in England and Wales, registration number 05866893. The registered office is TOWN HALL OLD BRISTOL ROAD, NAILSWORTH, NR STROUD, GLOUCESTERSHIRE, SL6 0JF.
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 represents net invoiced sales of goods and/or services, excluding VAT, and is solely attributable to the principal activity of the company.
Tangible fixed assets policy
All tangible fixed assets are initially recorded at cost, with the exception of assets that were transferred upon the incorporation of the company as a going concern, which were acquired at market value. Depreciation is provided in order to write off each tangible fixed asset over its estimated useful life.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Provision for deferred taxation is made at current rates of taxation deferred in respect of all material timing differences except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future.
Emerald Network Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2023
24,480
10,434
34,914
At 31 July 2024
24,480
10,434
34,914
At 1 August 2023
15,952
8,284
24,236
Charge for the year
853
537
1,390
At 31 July 2024
16,805
8,821
25,626
At 31 July 2024
7,675
1,613
9,288
At 31 July 2023
8,528
2,150
10,678
Amounts falling due within one year
Trade debtors
7,055
24,726
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
3,812
Taxes and social security
27,466
14,115
Loans from directors
-
9,533
Deferred income
29,944
29,695
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Emerald Network Ltd
Notes to the Accounts
for the year ended 31 July 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' Loan Account
-
1,352
-
1,352
Directors' Loan Account
-
1,352
-
1,352
During the year the company advanced a total of £2704 to the directors on loan account, which will be repaid in full prior to the expiry of nine months from the date of the Statement of Financial Position.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).