EML Business Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09167530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

EML BUSINESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V D Medina Lorenzo

C J Medina Lorenzo

SECRETARY:

C J Medina Lorenzo

REGISTERED OFFICE:

167 Staplehurst Road

Sittingbourne

Kent

ME10 1SY

REGISTERED NUMBER:

09167530 (England and Wales)

ACCOUNTANTS:

Williams Giles Professional Services Ltd

Chartered Accountants

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

FIXED ASSETS

Tangible assets

4

1,186

833

Investments

5

70,500

143,146

71,686

143,979

CURRENT ASSETS

Debtors

6

82,223

71,844

Cash at bank

20,669

44,478

102,892

116,322

CREDITORS

Amounts falling due within one year

7

101,321

86,328

NET CURRENT ASSETS

1,571

29,994

TOTAL ASSETS LESS CURRENT LIABILITIES

73,257

173,973

CREDITORS

Amounts falling due after more than one year

8

(58,720

)

(119,549

)

PROVISIONS FOR LIABILITIES

-

(322

)

NET ASSETS

14,537

54,102

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,437

54,002

14,537

54,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

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 5 May 2022 and were signed on its behalf by:

V D Medina Lorenzo - Director

C J Medina Lorenzo - Director

1.	STATUTORY INFORMATION

EML Business 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.

Preparation of consolidated financial statements

The financial statements contain information about EML Business Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or from the rendering of services.

Turnover from the rendering of computer consultancy services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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.

Computer equipment

-

25% on reducing balance

Government grants

Grants that becomes receivable as compensation for expenses or losses already incurred or for the purpose of

giving immediate financial support to the company are recognised as income in the period in which it becomes

receivable on an accruals basis and recognised immediately in profit and loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

3,109

Additions

599

At 31 December 2021

3,708

DEPRECIATION

At 1 January 2021

2,276

Charge for year

246

At 31 December 2021

2,522

NET BOOK VALUE

At 31 December 2021

1,186

At 31 December 2020

833

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

143,146

Additions

7,750

Impairments

(80,396

)

At 31 December 2021

70,500

NET BOOK VALUE

At 31 December 2021

70,500

At 31 December 2020

143,146

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aprium Limited

Registered office: 167 Staplehurst Road, Sittingbourne, England, ME10 1SY

Nature of business: Provision of IT Support

%

Class of shares:

holding

Ordinary

100.00

31/12/21

31/12/20

£

£

Aggregate capital and reserves

(2,512

)

3,450

Oregen Computer Training (U.K.) Limited

Registered office: 167 Staplehurst Road, Sittingbourne, England, ME10 1SY

Nature of business: Provision of IT training

%

Class of shares:

holding

Ordinary

100.00

31/12/21

31/12/20

£

£

Aggregate capital and reserves

(15,920

)

3,518

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Other debtors

23,757

3,842

Amounts falling due after more than one year:

Amounts owed by group undertakings

58,466

68,002

Aggregate amounts

82,223

71,844

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

361

212

Other creditors

100,960

86,116

101,321

86,328

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

4,332

4,617

Other creditors

54,388

114,932

58,720

119,549

9.	OTHER STRUCTURED LOANS

An analysis of the maturity of other structured loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Structured loan: due in 1 year

62,413

50,088

Amounts falling due between one and two years:

Structured loan: 1-5 years

54,388

114,932

10.	POST BALANCE SHEET EVENTS

After the reporting date, on 24 March 2022, the Company disposed of its 100% interest in Aprium Limited for total consideration of £35,500. The carrying value of the investment in this set of financial statements has been impaired to reflect the sale proceeds to be received.