Registered number
09792399
Eman Channel Limited
Filleted Accounts
31 December 2024
Eman Channel Limited
Registered number: 09792399
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 36,000 36,000
Tangible assets 4 34,691 49,515
70,691 85,515
Current assets
Debtors 5 477,288 174,478
Cash at bank and in hand 636,294 511,286
1,113,582 685,764
Creditors: amounts falling due within one year 6 (274,210) (31,257)
Net current assets 839,372 654,507
Net assets 910,063 740,022
Capital and reserves
Called up share capital 4 4
Profit and loss account 910,059 740,018
Shareholders' funds 910,063 740,022
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.
N Patterson
Director
Approved by the board on 29 September 2025
Eman Channel Limited
Notes to the Accounts
for the year ended 31 December 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates 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.
Other Income
The shareholde and provider of convertible loan, sold his interest in the company in August 2023 and as such convertible loans of £1.5m was forfieted by the subscriberon the same date, in accordance with the convertible loan agreement. The Agreement detailed that the convertible loan would terminate if the subscriber sold his interest in the company. The subscriber has confirmed that he has no lieu on the company and that the amount should be treated as a donation.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangibe asset represent the costs of the EPG air code and amortised over 10 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and computers 20% Straight line
Computers 20% straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7.3 11
3 Intangible fixed assets £
Cost
At 1 January 2024 180,000
At 31 December 2024 180,000
Amortisation
At 1 January 2024 144,000
At 31 December 2024 144,000
Net book value
At 31 December 2024 36,000
At 31 December 2023 36,000
The EPG code was being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Computers Total
£ £ £
Cost
At 1 January 2024 100,803 3,989 104,792
Additions - 1,415 1,415
At 31 December 2024 100,803 5,404 106,207
Depreciation
At 1 January 2024 53,993 1,284 55,277
Charge for the year 14,578 1,661 16,239
At 31 December 2024 68,571 2,945 71,516
Net book value
At 31 December 2024 32,232 2,459 34,691
At 31 December 2023 46,810 2,705 49,515
5 Debtors 2024 2023
£ £
Trade debtors 408,898 159,918
Director loan 4 4
Prepayments & Accrued income 50,404 -
Other debtors 17,982 14,556
477,288 174,478
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 225,147 25,771
Taxation and social security costs 12,751 100
Other creditors 36,312 5,386
274,210 31,257
7 Events after the reporting date
There were no material post balance sheet events.
8 Other information
Eman Channel Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8
Muirhead Quay
Freshwharf, Highbridge road
Barking
IG11 7BG
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