EMEG Group Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03366961 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2023

for

EMEG GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Simmonite

Mrs S F Simmonite

M W Hawley

T R Burrell

SECRETARY:

J R Simmonite

REGISTERED OFFICE:

Unit 3 Dunston Place

Dunston Road

Whittington Moor

Chesterfield

Derbyshire

S41 8NL

REGISTERED NUMBER:

03366961 (England and Wales)

ACCOUNTANTS:

Brown McLeod Limited

Chartered Accountants

The Old Workshop

1 Ecclesall Road South

Sheffield

South Yorkshire

S11 9PA

FIXED ASSETS

Tangible assets

4

407,867

399,329

CURRENT ASSETS

Stocks

354,489

358,025

Debtors

5

4,179,707

2,582,993

Cash at bank

679,141

1,166,661

5,213,337

4,107,679

CREDITORS

Amounts falling due within one year

6

3,355,647

2,660,480

NET CURRENT ASSETS

1,857,690

1,447,199

TOTAL ASSETS LESS CURRENT LIABILITIES

2,265,557

1,846,528

CREDITORS

Amounts falling due after more than one year

7

(582,438

)

(890,420

)

PROVISIONS FOR LIABILITIES

(79,817

)

(52,016

)

NET ASSETS

1,603,302

904,092

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,602,302

903,092

SHAREHOLDERS' FUNDS

1,603,302

904,092

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

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

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 26 February 2024 and were signed on its behalf by:

J R Simmonite - Director

1.	STATUTORY INFORMATION

EMEG Group 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

-

50% on cost, 33% on cost, 20% on cost and 10% on cost

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 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2022

1,043,457

Additions

126,049

At 31 May 2023

1,169,506

DEPRECIATION

At 1 June 2022

644,128

Charge for year

117,511

At 31 May 2023

761,639

NET BOOK VALUE

At 31 May 2023

407,867

At 31 May 2022

399,329

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

3,635,356

2,302,004

Other debtors

544,351

280,989

4,179,707

2,582,993

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans and overdrafts

290,343

275,000

Hire purchase contracts

2,296

1,977

Trade creditors

2,362,898

1,679,488

Taxation and social security

223,139

378,634

Other creditors

476,971

325,381

3,355,647

2,660,480

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans

581,814

887,500

Hire purchase contracts

624

2,920

582,438

890,420

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.23

31.5.22

£

£

Hire purchase contracts

2,920

4,897

9.	ULTIMATE CONTROLLING PARTY

The controlling party is J R Simmonite.