Emstra Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08339328 (England and Wales)

Audited Financial Statements

For The Year Ended 30th April 2020

for

Emstra Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D J Attwood

Mrs D G Attwood

REGISTERED OFFICE:

Sharvatt House

Innsworth Technology Park

Innsworth Lane

Gloucester

Gloucestershire

GL3 1DL

REGISTERED NUMBER:

08339328 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Wildin

AUDITORS:

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

2,596,248

2,656,046

CURRENT ASSETS

Stocks

5

2,000

2,000

Debtors

6

21,146

43,613

Cash at bank

206

-

23,352

45,613

CREDITORS

Amounts falling due within one year

7

2,794,143

2,808,192

NET CURRENT LIABILITIES

(2,770,791

)

(2,762,579

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(174,543

)

(106,533

)

PROVISIONS FOR LIABILITIES

10

1,801

2,543

NET LIABILITIES

(176,344

)

(109,076

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

(176,444

)

(109,176

)

SHAREHOLDERS' FUNDS

(176,344

)

(109,076

)

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 and authorised for issue by the Board of Directors and authorised for issue on 29th July 2020 and were signed on its behalf by:

Mrs D G Attwood - Director

1.	STATUTORY INFORMATION

Emstra 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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st May 2019

2,681,063

3,784

11,179

16,000

2,712,026

Additions

-

305

-

-

305

At 30th April 2020

2,681,063

4,089

11,179

16,000

2,712,331

DEPRECIATION

At 1st May 2019

53,621

-

2,359

-

55,980

Charge for year

53,622

757

1,764

3,960

60,103

At 30th April 2020

107,243

757

4,123

3,960

116,083

NET BOOK VALUE

At 30th April 2020

2,573,820

3,332

7,056

12,040

2,596,248

At 30th April 2019

2,627,442

3,784

8,820

16,000

2,656,046

5.

STOCKS

30.4.20

30.4.19

£

£

Stocks

2,000

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

2

950

Amounts owed by group undertakings

16,253

15,642

Other debtors

1,661

1,661

Tax

2,480

5,161

Prepayments

750

20,199

21,146

43,613

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts (see note 8)

98,501

88,073

Trade creditors

1,253

15,924

Amounts owed to group undertakings

2,629,488

2,649,133

VAT

852

418

Accrued expenses

64,049

54,644

2,794,143

2,808,192

8.

LOANS

An analysis of the maturity of loans is given below:

30.4.20

30.4.19

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

98,501

88,073

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank overdrafts

98,501

88,073

The company's property is used as part of the security and cross guarantee within the group to it's bankers.

10.	PROVISIONS FOR LIABILITIES

30.4.20

30.4.19

£

£

Deferred tax

1,801

2,543

Deferred

tax

£

Balance at 1st May 2019

2,543

Credit to Income Statement during year

(742

)

Balance at 30th April 2020

1,801

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

1

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1st May 2019

(109,176

)

Deficit for the year

(67,268

)

At 30th April 2020

(176,444

)

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Wildin (Senior Statutory Auditor)

for and on behalf of Wildin & Co

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Attwood.

16.	ULTIMATE PARENT COMPANY

International Plywood Plc is regarded by the directors as being the company's ultimate parent company.

The company is 100% owned subsidiary of International Plywood plc. The registered office is Sharvatt House, Innsworth Technolodgy Park, Innsowrth lane, Gloucester, GL3 1DL