Emma Homes Limited - Accounts to registrar (filleted) - small 18.2

Emma Homes Limited

Financial Statements for the Year Ended 31 March 2019

DIRECTORS:

D L Moffat

V Richards

L L Richards

SECRETARY:

L L Richards

REGISTERED OFFICE:

Beech Tree House

4 Great House Meadow

Llantwit Major

Vale of Glamorgan

CF61 1SU

REGISTERED NUMBER:

03737849 (England and Wales)

ACCOUNTANTS:

BPU Limited

The Counting House

Pound Field

Llantwit Major

Vale of Glamorgan

CF61 1DL

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the

company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement

and certain other primary statements and the Report of the Directors are not required to be filed

with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Emma Homes Limited for the year ended 31 March 2019 which

comprise the Income Statement, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Emma Homes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Emma Homes Limited and state those matters that we have agreed to state to the Board of Directors of Emma Homes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emma Homes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Emma Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Emma Homes Limited. You consider that Emma Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Emma Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

26 November 2019

FIXED ASSETS

Tangible assets

4

663

1,035

Investment property

5

400,000

400,000

400,663

401,035

CURRENT ASSETS

Debtors

6

360

552

Cash at bank

5,173

4,395

5,533

4,947

CREDITORS

Amounts falling due within one year

7

11,301

9,833

NET CURRENT LIABILITIES

(5,768

)

(4,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

394,895

396,149

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

8

123,228

134,641

Retained earnings

271,665

261,506

SHAREHOLDERS' FUNDS

394,895

396,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 November 2019 and were signed on its behalf by:

V Richards - Director

1.	STATUTORY INFORMATION

Emma Homes Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% straight line

Fixtures and fittings

-

20% straight line

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

2,250

10,883

13,133

DEPRECIATION

At 1 April 2018

2,250

9,848

12,098

Charge for year

-

372

372

At 31 March 2019

2,250

10,220

12,470

NET BOOK VALUE

At 31 March 2019

-

663

663

At 31 March 2018

-

1,035

1,035

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

400,000

NET BOOK VALUE

At 31 March 2019

400,000

At 31 March 2018

400,000

Investment property comprises of a cottage and storage facilities for the purpose of earning rental

income.

The fair value of the investment property has been arrived at on the basis of a valuation carried out

in February 2016 by R K Lucas, Chartered Surveyors, who are not connected with the company. The

valuation was made on an open market value basis by reference to market evidence of transaction

prices for similar properties. The directors believe that the valuation in February 2016 is sufficient for

use at the balance sheet date.

On an historical cost basis the investment property would have been included at an original cost of

£276,772 (2018--£276,772)).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors & prepayments

360

552

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

920

1,583

Taxes & social security costs

-

255

Other creditors & accruals

10,381

7,995

11,301

9,833

8.

RESERVES

Revaluation

reserve

£

At 1 April 2018

134,641

Transfer from Revaluation reserve

(11,413

)

At 31 March 2019

123,228