Emgem Enterprises Limited - Period Ending 2015-06-30

Registration number: 08093693

Emgem Enterprises Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

MG Associates
Chartered Accountants & Business Advisors
36 Victoria Road
Dartmouth
Devon
TQ6 9SB

Emgem Enterprises Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Emgem Enterprises Limited
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Emgem Enterprises Limited for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Emgem Enterprises Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Emgem Enterprises Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emgem Enterprises Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Emgem Enterprises Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Emgem Enterprises Limited. You consider that Emgem Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Emgem Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MG Associates
Chartered Accountants & Business Advisors
36 Victoria Road
Dartmouth
Devon
TQ6 9SB

22 March 2016

Page 1

Emgem Enterprises Limited
(Registration number: 08093693)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					30,400			45,600
Tangible fixed assets					8,973			10,772
					39,373			56,372
Current assets
Debtors					2,986			1,866
Cash at bank and in hand					16,406			13,775
					19,392			15,641
Creditors: Amounts falling due within one year					(9,745)			(1,741)
Net current assets					9,647			13,900
Total assets less current liabilities					49,020			70,272
Creditors: Amounts falling due after more than one year					(81,209)			(90,459)
Net liabilities					(32,189)			(20,187)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(32,191)			(20,189)
Shareholders' deficit					(32,189)			(20,187)

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 19 March 2016 and signed on its behalf by:

.........................................
Mr Jonathan Charles Greaves
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Emgem Enterprises Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicle	25% reducing balance
Plant and machinery	20% reducing balance

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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Emgem Enterprises Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		76,000			17,219			93,219
Additions		-			639			639
At 30 June 2015		76,000			17,858			93,858
Depreciation
At 1 July 2014		30,400			6,447			36,847
Charge for the year		15,200			2,438			17,638
At 30 June 2015		45,600			8,885			54,485
Net book value
At 30 June 2015		30,400			8,973			39,373
At 30 June 2014		45,600			10,772			56,372

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 4