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

REGISTERED NUMBER: SC541869 (Scotland)

Financial Statements for the Year Ended 31 May 2021

for

EMTEC BUILDING SERVICES MIDLANDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M McCabe

A McCabe

J G Workman

S P Stevenson

REGISTERED OFFICE:

29 Brandon Street

Hamilton

ML3 6DA

REGISTERED NUMBER:

SC541869 (Scotland)

AUDITORS:

Sharles Audit Limited

Statutory Auditors

29 Brandon Street

Hamilton

ML3 6DA

CURRENT ASSETS

Debtors

5

535,587

1,481,469

Cash at bank

138,372

184,471

673,959

1,665,940

CREDITORS

Amounts falling due within one year

6

172,187

1,560,304

NET CURRENT ASSETS

501,772

105,636

TOTAL ASSETS LESS CURRENT LIABILITIES

501,772

105,636

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

501,771

105,635

SHAREHOLDERS' FUNDS

501,772

105,636

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 23 February 2022 and were signed on its behalf by:

S P Stevenson - Director

1.	STATUTORY INFORMATION

Emtec Building Services Midlands 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.

Grants

Grants which are considered to be revenue in nature are credited to the profit and loss account in the period to which they relate. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate.

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

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 year was 7 (2020 - 11 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Trade debtors

-

8,329

Amounts owed by group undertakings

1

-

Amounts recoverable on contracts

463,062

1,355,360

Other debtors

72,524

117,780

535,587

1,481,469

Included within amounts recoverable on contracts is a net balance of £226,533 outstanding in respect of contract which, following a successful adjudication process, the company has not yet been paid for. The directors are confident that this balance will be recovered in full. However, should some or all of this balance prove to be irrecoverable there would be a corresponding reduction in debtors and profits that could be material to the financial statements as a whole.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Trade creditors

170,375

1,177,629

Amounts owed to group undertakings

-

315,999

Taxation and social security

1,812

64,661

Other creditors

-

2,015

172,187

1,560,304

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

The Report of the Auditors was unqualified.

We draw attention to Note 5 of the financial statements, which describes a material uncertainty relating to the recoverability of a contract balance. Our opinion is not modified in respect of this matter.

Keith Edwards (Senior Statutory Auditor)

for and on behalf of Sharles Audit Limited

8.	RELATED PARTY DISCLOSURES

The company has an intercompany loan balance with Emtec Group Ltd and its subsidiary undertakings. The loan is unsecured, interest free and has no fixed repayment terms. At the year end the company was owed £1 (2020 - £315,999 creditor) by Emtec Group Ltd and its subsidiary undertakings.

During the year a debt of £389,000 (2020 - £-) which had been due by the company to Emtec Group Ltd and its subsidiary undertakings was written off.

9.	CONTROLLING PARTY

During the year the controlling party was Emtec Group Limited. On 1 June 2021 the company was sold by Emtec Group Limited and from that date there is no controlling party.