Emgee Couriers Limited Accounts

EMGEE COURIERS LIMITED - Company Information






Emgee Couriers Limited

	Company No. 07525597
		Information for Filing with The Registrar
		28 February 2019

at	28 February 2019
Company No.		07525597	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		2	6,671	1,213


				6,671	1,213
Current assets

	Debtors		3	9,223	7,114

	Cash at bank and in hand			3,307	2,807
				12,530	9,921
Creditors: Amount falling due within one year			4	(7,048)	(7,040)
Net current assets				5,482	2,881
Total assets less current liabilities				12,153	4,094
Creditors: Amounts falling due after more than one year			5	(7,132)	-
Provisions for liabilities
	Deferred taxation		6	(1,268)	(230)

Net assets				3,753	3,864

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		7	3,653	3,764

Total equity				3,753	3,864



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 28 February 2019 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 21 September 2019
And signed on its behalf by:
G. McGhie
Director

for the year ended 28 February 2019

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer rebates and other similar allowances.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Motor vehicles

25% Straight line

Furniture, fittings and equipment

25% Straight line

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 profit and loss account because of items of income or expense that are taxable or deductible in other years 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Tangible fixed assets
			Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 March 2018	7,200	510	7,710
		Additions	7,625	-	7,625


		Disposals	(7,200)	-	(7,200)
		At 28 February 2019	7,625	510	8,135
		Depreciation
		At 1 March 2018	6,000	497	6,497
		Charge for the year	1,853	14	1,867


		Disposals	-	(6,900)	(6,900)
		At 28 February 2019	7,853	(6,389)	1,464
		Net book values
		At 28 February 2019	(228)	6,899	6,671
		At 28 February 2018	1,200	13	1,213

3	Debtors
			2019	2018
			£	£
		Trade debtors	3,848	4,904




		Loans to directors	5,375	2,210


			9,223	7,114

4	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	1,816	1,633




		Corporation tax	2,608	2,667
		Other taxes and social security	1,974	2,091

		Other creditors	1	-
		Accruals and deferred income	649	649
			7,048	7,040

5	Creditors:
		amounts falling due after more than one year
			2019	2018
			£	£

		Bank loans and overdrafts	7,132	-






			7,132	-

6	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 March 2018	230	230
		Charge to the profit and loss account for the period	1,038	1,038

		At 28 February 2019	1,268	1,268



			2019	2018
			£	£
		Accelerated capital allowances	1,268	230



			1,268	230

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Advances and credits to directors
		Included within Other debtors are the following loans to directors:

		Director	Description	At 1 March 2018	Advanced	Repaid	At 28 February 2019
				£	£	£	£
		G. McGhie	Current account	2,210	13,165	(10,000)	5,375







































				2,210	13,165	(10,000)	5,375

9	Related party disclosures
				2019	2018
		Transactions with related parties		£	£

























































		Name of related party	G. McGhie
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Current account
		Amount due from/(to) the related party		-	2,210
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

Additional information

Its registered number is:

07525597

Its registered office is:

Its trading address is:

142 Romford Road

Aveley

South Ockendon

RM15 4PJ