Emmerson and Co (Fishing) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04585717 (England and Wales)

Emmerson and Co (Fishing) Limited

Unaudited Financial Statements

For The Year Ended 31 December 2016

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R Emmerson Esq

Mrs J L Emmerson

SECRETARY:

Mrs J L Emmerson

REGISTERED OFFICE:

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

REGISTERED NUMBER:

04585717 (England and Wales)

ACCOUNTANTS:

Charles A Wood & Co.

Chartered Accountants

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

BANKERS:

HSBC Bank Plc

7 Westgate

Bridlington

East Yorkshire

YO16 4QD

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Emmerson and Co (Fishing) Limited for the year ended 31 December 2016 which comprise the

Income Statement, Abridged Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Emmerson and Co (Fishing) Limited, as a body, in accordance with the terms of our engagement letter dated 16 June 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Emmerson and Co (Fishing) Limited and state those matters that we have agreed to state to the Board of Directors of Emmerson and Co (Fishing) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emmerson and Co (Fishing) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Emmerson and Co (Fishing) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Emmerson and Co (Fishing) Limited. You consider that Emmerson and Co (Fishing) 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 financial statements of Emmerson and Co (Fishing) 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 financial statements.

Charles A Wood & Co.

Chartered Accountants

15 Prospect Street

Bridlington

East Yorkshire

YO15 2AE

22 June 2017

FIXED ASSETS

Tangible assets

4

8,255

10,519

CURRENT ASSETS

Debtors

976

1,325

Cash at bank

39,205

31,158

40,181

32,483

CREDITORS

Amounts falling due within one year

45,778

41,732

NET CURRENT LIABILITIES

(5,597

)

(9,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,658

1,270

PROVISIONS FOR LIABILITIES

(1,550

)

(1,980

)

ACCRUALS AND DEFERRED INCOME

5

(144

)

(170

)

NET ASSETS/(LIABILITIES)

964

(880

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

962

(882

)

SHAREHOLDERS' FUNDS

964

(880

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 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 on 22 June 2017 and were signed on its behalf by:

R Emmerson Esq - Director

1.	STATUTORY INFORMATION

Emmerson and Co (Fishing) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Government grant

The government grant received is released to the profit and loss account at an annual rate of 15% on reducing

balance over the estimated useful life of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

24,624

DEPRECIATION

At 1 January 2016

14,105

Charge for year

2,264

At 31 December 2016

16,369

NET BOOK VALUE

At 31 December 2016

8,255

At 31 December 2015

10,519

5.	ACCRUALS AND DEFERRED INCOME

2016

2015

£

£

Deferred government grants

733

733

Released to profit and loss account

(589

)

(563

)

144

170

6.	RELATED PARTY DISCLOSURES

During the year the company paid interest of £1,863 (2015 - £Nil) and dividends of £1,000 (2015 - £Nil) to Mr

and Mrs R Emmerson.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs R Emmerson.