Emmaforce Services (Olton) Limited 31/01/2019 iXBRL
Emmaforce Services (Olton) Limited 31/01/2019 iXBRL
Company registration number:
02138382
Unaudited filleted financial statements
EMMAFORCE SERVICES (OLTON) LIMITED
Contents
Statement of financial position
Notes to the financial statements
EMMAFORCE SERVICES (OLTON) LIMITED
STATEMENT OF FINANCIAL POSITION
31 JANUARY 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Debtors | 6 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 7 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Profit and loss account | 9 |
|
|
||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
08 October 2019
, and are signed on behalf of the board by:
Director
Company registration number:
02138382
EMMAFORCE SERVICES (OLTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is
Emmaforce Services (Olton) Limited
, 18 High Street, Bidford On Avon, Alcester, Warwickshire, B50 4BU.
Principal activity
The principal activity of the company is that of property rental.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost | |||
At 1 February 2018 and 31 January 2019 |
|
|
|
_______ | _______ | ||
Depreciation | |||
At 1 February 2018 | - | - | |
Impairment losses | 18,649 | 18,649 | |
_______ | _______ | ||
At 31 January 2019 |
|
|
|
_______ | _______ | ||
Carrying amount | |||
At 31 January 2019 |
|
|
|
_______ | _______ | ||
At 31 January 2018 |
|
|
|
_______ | _______ | ||
Investment property
Included within the above is investment property as follows:
£ | ||
At 1 February 2018 |
|
|
Fair value adjustments |
(
|
|
_______ | ||
At 31 January 2019 |
|
|
_______ | ||
Investment properties are held at fair value and not subject to depreciation. The investment properties were valued during the year by Greenslade Taylor Hunt.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property | Total | ||
£ | £ | ||
At 31 January 2019 | |||
Aggregate cost | 428,649 | 428,649 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
428,649 | |
_______ | _______ | ||
At 31 January 2018 | |||
Aggregate cost | 428,649 | 428,649 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
428,649 | |
_______ | _______ | ||
6.
Debtors
2019 | 2018 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Bank loans and overdrafts |
|
|
||
Trade creditors |
|
|
||
Social security and other taxes | 5,229 | 5,170 | ||
Other creditors | 24,338 | 14,838 | ||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2019 | 2018 | |||
£ | £ | |||
Bank loans and overdrafts |
|
|
||
_______ | _______ | |||
9.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
Loans to / (from) directors at 1 February 2018 | Loans to / (from) the directors | Amounts repaid | Balance at 31 January 2019 | ||
£ | £ | £ | £ | ||
Director 1 |
|
(
|
- |
(
|
|
|
(
|
(
|
- |
(
|
|
_______ | _______ | _______ | _______ | ||
(
|
(
|
- |
(
|
||
_______ | _______ | _______ | _______ | ||
Loans to / (from) directors at 1 February 2017 | Loans to / (from) the directors | Amounts repaid | Balance at 31 January 2018 | ||
£ | £ | £ | £ | ||
Director 1 |
|
|
(
|
|
|
|
(
|
(
|
- |
(
|
|
_______ | _______ | _______ | _______ | ||
(
|
|
(
|
(
|
||
_______ | _______ | _______ | _______ | ||
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.