Essex Memorials Limited Filleted accounts for Companies House (small and micro)

ESSEX MEMORIALS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04604917

Essex Memorials Limited

Filleted Unaudited Financial Statements

31 December 2021

Essex Memorials Limited

Statement of Financial Position

31 December 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	6		9,012		14,458

Current assets

Debtors	7	842	7,152
Cash at bank and in hand		8,377	1,765
		-------	-------
		9,219	8,917

Creditors: amounts falling due within one year	8	23,708		22,545
		--------		--------
Net current liabilities			14,489		13,628
			--------		--------
Total assets less current liabilities			( 5,477)		830
			-------		----
Net (liabilities)/assets			( 5,477)		830
			-------		----

Capital and reserves

Called up share capital	9	1	1
Capital redemption reserve		1	1
Profit and loss account		( 5,479)	828
		-------	----
Shareholders (deficit)/funds		( 5,477)	830
		-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Essex Memorials Limited

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 20 May 2022 , and are signed on behalf of the board by:

Mr P J King
Director

Company registration number: 04604917

Essex Memorials Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Causeway House, 37-39 The Causeway, Maldon, Essex, CM9 4LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which is dependent on the continued support of the parent undertaking. The directors of the parent undertaking have indicated their willingness for the parent company to support the company for the foreseeable future. The director has considered the impact of the covid-19 pandemic in his assessment of the company's ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the company and its customers, but having taken all the factors into account, the director is of the opinion that the company has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	4% straight line
Plant and machinery	-	10% - 25% Straight Line
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Average number of employees

During the year the average number of employees was 1 (2020: 1) which consisted of the director only.

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2021 and 31 December 2021	50,000
	--------
Amortisation
At 1 January 2021 and 31 December 2021	50,000
	--------
Carrying amount
At 31 December 2021	–
	--------
At 31 December 2020	–
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2021 and 31 December 2021	62,846	8,203	850	40,468	112,367
	--------	-------	----	--------	---------
Depreciation
At 1 January 2021	58,362	5,505	850	33,192	97,909
Charge for the year	1,966	1,661	–	1,819	5,446
	--------	-------	----	--------	---------
At 31 December 2021	60,328	7,166	850	35,011	103,355
	--------	-------	----	--------	---------
Carrying amount
At 31 December 2021	2,518	1,037	–	5,457	9,012
	--------	-------	----	--------	---------
At 31 December 2020	4,484	2,698	–	7,276	14,458
	--------	-------	----	--------	---------

7. Debtors

	2021	2020
	£	£
Trade debtors	261	7,152
Prepayments and accrued income	581	–
	----	-------
	842	7,152
	----	-------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	1,444	785
Amounts owed to group undertakings	19,941	18,887
Accruals and deferred income	1,730	1,700
Social security and other taxes	593	1,173
	--------	--------
	23,708	22,545
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

10. Related party transactions

The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with PJK Funeral Directors Limited.

11. Controlling party

The ultimate parent undertaking of Essex Memorials Ltd is PJK Funeral Directors Ltd, a company incorporated in England and Wales. Registered office address: Causeway House, 37-39 The Causeway, Maldon, Essex, CM9 4LJ.