E.E.M.I.T.S. Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02742476 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

E.E.M.I.T.S. Communications Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Matthews

M Matthews

J L Matthews

P M Matthews

SECRETARY:

M Matthews

REGISTERED OFFICE:

Brignell Road

Riverside Park

MIDDLESBROUGH

TS2 1PS

REGISTERED NUMBER:

02742476 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

7,111

3,516

Tangible assets

5

646,995

665,126

654,106

668,642

CURRENT ASSETS

Stocks

31,641

63,176

Debtors

349,241

445,669

Cash at bank and in hand

319,543

213,093

700,425

721,938

CREDITORS

Amounts falling due within one year

575,441

537,874

NET CURRENT ASSETS

124,984

184,064

TOTAL ASSETS LESS CURRENT LIABILITIES

779,090

852,706

PROVISIONS FOR LIABILITIES

6

57,463

54,369

NET ASSETS

721,627

798,337

CAPITAL AND RESERVES

Called up share capital

7

10,300

10,300

Capital redemption reserve

9,700

9,700

Retained earnings

701,627

778,337

SHAREHOLDERS' FUNDS

721,627

798,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2021 and were signed on its behalf by:

C J Matthews - Director

1.	STATUTORY INFORMATION

E.E.M.I.T.S. Communications 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Income recognition

Income is recognised when a contract for the sale of goods is determined as unconditional.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the trunk radio system has been fully amortised.

Intangible fixed assets

Amortisation is provided on intangible fixed assets at rates calculated to write off the cost of each asset on a straight line basis over its expected useful life, as follows:

Purchased computer software - 5 years

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

-

20% on reducing balance and 2% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Radio & computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and selling price less estimated costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Grants

Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2019

11,624

Additions

5,320

At 31 August 2020

16,944

AMORTISATION

At 1 September 2019

8,108

Amortisation for year

1,725

At 31 August 2020

9,833

NET BOOK VALUE

At 31 August 2020

7,111

At 31 August 2019

3,516

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2019

1,907,381

Additions

174,468

At 31 August 2020

2,081,849

DEPRECIATION

At 1 September 2019

1,242,255

Charge for year

192,599

At 31 August 2020

1,434,854

NET BOOK VALUE

At 31 August 2020

646,995

At 31 August 2019

665,126

The amount of assets held for use in operating leases to third parties was as follows:-

2020

2019

£

£

Cost

1,551,008

1,387,828

Accumulated depreciation

(1,236,253)

(1,073,377)

Net book value

314,755

314,451

6.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

57,463

54,369

Deferred

tax

£

Balance at 1 September 2019

54,369

Accelerated capital allowances

3,094

Balance at 31 August 2020

57,463

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10,200

Ordinary

£1

10,200

10,200

100

A Ordinary

£1

100

100

10,300

10,300

8.	RELATED PARTY DISCLOSURES

2020

2019

£

£

Amounts owed to directors

16,000

16,000

No interest has been charged