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Registered number: 05415029
EMA CARS LIMITED
Unaudited Financial Statements
For The Year Ended 30 March 2025
Mikailian & Co
Suite 8, 1-3 Little Titchfield Street
London
W1W 7BU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05415029
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 219,318 256,577
219,318 256,577
CURRENT ASSETS
Debtors 5 10,922 9,385
Cash at bank and in hand 36,255 4,263
47,177 13,648
Creditors: Amounts Falling Due Within One Year 6 (113,997 ) (53,429 )
NET CURRENT ASSETS (LIABILITIES) (66,820 ) (39,781 )
TOTAL ASSETS LESS CURRENT LIABILITIES 152,498 216,796
Creditors: Amounts Falling Due After More Than One Year 7 (78,631 ) (121,255 )
NET ASSETS 73,867 95,541
CAPITAL AND RESERVES
Called up share capital 9 50 50
Profit and Loss Account 73,817 95,491
SHAREHOLDERS' FUNDS 73,867 95,541
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Page 2
For the year ending 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
On behalf of the board
Mr E ARIKAT
Director
02/10/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
EMA CARS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05415029 . The registered office is Suite 8, 1-3 Little Titchfield Street, London, W1W 7BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 15% on Net Book Value
Fixtures & Fittings 15% on Net Book Value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 1 1
Sales, marketing and distribution 1 -
2 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 31 March 2024 311,415 20,458 331,873
Additions - 1,444 1,444
As at 30 March 2025 311,415 21,902 333,317
Depreciation
As at 31 March 2024 62,054 13,242 75,296
Provided during the period 37,404 1,299 38,703
As at 30 March 2025 99,458 14,541 113,999
Net Book Value
As at 30 March 2025 211,957 7,361 219,318
As at 31 March 2024 249,361 7,216 256,577
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,488 7,405
Other debtors 4,434 1,980
10,922 9,385
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 36,938 36,940
Bank loans and overdrafts 2,063 3,450
Corporation tax 5,822 31
Other taxes and social security 6,871 3,571
Accruals and deferred income 56,577 8,601
Director's loan account 5,726 836
113,997 53,429
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 35,755 73,755
Bank loans 6,876 11,500
Directors loan account 36,000 36,000
78,631 121,255
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 36,938 36,940
Later than one year and not later than five years 35,755 73,755
72,693 110,695
72,693 110,695
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 50 50
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