Emerald Construction (IW) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03777619 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

EMERALD CONSTRUCTION (IW) LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

E A McMahon

SECRETARY:

Mrs I McMahon

REGISTERED OFFICE:

Exchange House

St. Cross Lane

Newport

Isle of Wight

PO30 5BZ

REGISTERED NUMBER:

03777619 (England and Wales)

ACCOUNTANTS:

Bright Brown Limited

Chartered Accountants

Exchange House

St. Cross Lane

Newport

Isle of Wight

PO30 5BZ

FIXED ASSETS

Tangible assets

4

191,021

217,749

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

276,898

266,059

Cash at bank

3,882

3,061

281,780

270,120

CREDITORS

Amounts falling due within one year

6

205,367

162,072

NET CURRENT ASSETS

76,413

108,048

TOTAL ASSETS LESS CURRENT LIABILITIES

267,434

325,797

CREDITORS

Amounts falling due after more than one year

7

(53,407

)

(37,101

)

PROVISIONS FOR LIABILITIES

(35,603

)

(36,141

)

NET ASSETS

178,424

252,555

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

178,422

252,553

SHAREHOLDERS' FUNDS

178,424

252,555

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 director acknowledges his 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 director on 19 December 2019 and were signed by:

E A McMahon - Director

1.	STATUTORY INFORMATION

Emerald Construction (IW) 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

685,950

Additions

22,164

At 31 March 2019

708,114

DEPRECIATION

At 1 April 2018

468,201

Charge for year

48,892

At 31 March 2019

517,093

NET BOOK VALUE

At 31 March 2019

191,021

At 31 March 2018

217,749

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2018

184,324

Additions

7,500

At 31 March 2019

191,824

DEPRECIATION

At 1 April 2018

53,893

Charge for year

27,586

At 31 March 2019

81,479

NET BOOK VALUE

At 31 March 2019

110,345

At 31 March 2018

130,431

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

249,480

238,275

Other debtors

27,418

27,784

276,898

266,059

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

79,425

13,602

Hire purchase contracts

43,189

53,227

Trade creditors

44,129

65,816

Taxation and social security

10,861

23,009

Other creditors

27,763

6,418

205,367

162,072

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

43,528

-

Hire purchase contracts

9,879

37,101

53,407

37,101

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

15,825

-