EGM Products Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 10309176 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

EGM Products Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Yallop

A Yallop

H Yallop

REGISTERED OFFICE:

The Oaks

Snipe Farm Road

Clopton

Woodbridge

Suffolk

IP13 6SL

REGISTERED NUMBER:

10309176 (England and Wales)

ACCOUNTANTS:

ALS Accountancy Services

Rivendell

Church Road

Battisford

Stowmarket

Suffolk

IP14 2HE

FIXED ASSETS

Tangible assets

4

38,282

45,606

CURRENT ASSETS

Stocks

69,636

67,765

Debtors

1,000

9,461

Cash at bank

42,427

17,669

113,063

94,895

CREDITORS

Amounts falling due within one year

96,107

83,920

NET CURRENT ASSETS

16,956

10,975

TOTAL ASSETS LESS CURRENT LIABILITIES

55,238

56,581

PROVISIONS FOR LIABILITIES

7,274

8,665

NET ASSETS

47,964

47,916

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

47,864

47,816

47,964

47,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 October 2023 and were signed on its behalf by:

J Yallop - Director

1.	STATUTORY INFORMATION

EGM Products 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

87,626

DEPRECIATION

At 1 April 2022

42,020

Charge for year

7,324

At 31 March 2023

49,344

NET BOOK VALUE

At 31 March 2023

38,282

At 31 March 2022

45,606

5.	RELATED PARTY DISCLOSURES