Emtec Building Services North Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC522691 (Scotland)

Financial Statements for the Period 1 June 2021 to 31 December 2021

for

EMTEC BUILDING SERVICES NORTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S P Stevenson

S Barclay

A D Crozier

B Falcus

M J Clinch

A T McKenzie

W Ottilinger

REGISTERED OFFICE:

29 Brandon Street

Hamilton

ML3 6DA

REGISTERED NUMBER:

SC522691 (Scotland)

AUDITORS:

Sharles Audit Limited

Statutory Auditors

29 Brandon Street

Hamilton

ML3 6DA

FIXED ASSETS

Tangible assets

5

1,314

1,989

CURRENT ASSETS

Debtors

6

2,184,812

2,769,986

Cash at bank and in hand

601,221

659,324

2,786,033

3,429,310

CREDITORS

Amounts falling due within one year

7

2,179,809

2,693,511

NET CURRENT ASSETS

606,224

735,799

TOTAL ASSETS LESS CURRENT LIABILITIES

607,538

737,788

PROVISIONS FOR LIABILITIES

250

378

NET ASSETS

607,288

737,410

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

607,188

737,310

607,288

737,410

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 and authorised for issue on 9 September 2022 and were signed on its behalf by:

S P Stevenson - Director

1.	STATUTORY INFORMATION

Emtec Building Services North Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition

Turnover is derived from the various activities of the company operating as a contractor.

Turnover therefore represents the fair value of work done and service supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and Straight line over 5 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £5,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Taxation

Taxation for the period 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 period 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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 46 (2021 - 55 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

and 31 December 2021

52,803

DEPRECIATION

At 1 June 2021

50,814

Charge for period

675

At 31 December 2021

51,489

NET BOOK VALUE

At 31 December 2021

1,314

At 31 May 2021

1,989

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/5/21

£

£

Trade debtors

8,878

12,045

Amounts recoverable on contracts

1,644,790

2,747,687

Other debtors

531,144

10,254

2,184,812

2,769,986

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/5/21

£

£

Trade creditors

1,500,798

2,332,795

Amounts owed to group undertakings

506,760

29,910

Taxation and social security

120,648

282,224

Other creditors

51,603

48,582

2,179,809

2,693,511

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/21

31/5/21

£

£

Within one year

64,900

-

Between one and five years

221,208

-

286,108

-

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

The Report of the Auditors was unqualified.

Keith Edwards (Senior Statutory Auditor)

for and on behalf of Sharles Audit Limited

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2021 and the year ended 31 May 2021:

31/12/21

31/5/21

£

£

A D Crozier

Balance outstanding at start of period

100

-

Amounts advanced

-

100

Amounts repaid

(100

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

100

B Falcus

Balance outstanding at start of period

(268

)

-

Amounts advanced

268

-

Amounts repaid

-

(268

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

(268

)

The above balances were unsecured and interest free.

11.	RELATED PARTY DISCLOSURES

The company has an intercompany loan balance with Emtec Group Ltd and its subsidiary undertakings. This loan is unsecured, interest free and has no fixed repayment terms. At the period end the company owed £506,760 (31 May 2021 - £29,910) to Emtec Group Ltd and its subsidiary undertakings.

12.	CONTROLLING PARTY

The controlling party is Emtec Group Ltd.

The ultimate controlling party is Fr. Sauter Ag.