Emeg Electrical Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03366961 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

EMEG ELECTRICAL 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

51 Clarkegrove Road

Sheffield

South Yorkshire

S10 2NH

FIXED ASSETS

Tangible assets

4

115,410

70,135

CURRENT ASSETS

Stocks

296,964

200,000

Debtors

5

1,346,590

1,472,432

Cash at bank and in hand

152,099

1,012,425

1,795,653

2,684,857

CREDITORS

Amounts falling due within one year

6

1,272,781

2,081,476

NET CURRENT ASSETS

522,872

603,381

TOTAL ASSETS LESS CURRENT LIABILITIES

638,282

673,516

CREDITORS

Amounts falling due after more than one year

7

(149,348

)

(234,668

)

PROVISIONS FOR LIABILITIES

(20,774

)

(12,624

)

NET ASSETS

468,160

426,224

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

468,060

426,124

SHAREHOLDERS' FUNDS

468,160

426,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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.

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 27 February 2018 and were signed on its behalf by:

T R Burrell - Director

1.	STATUTORY INFORMATION

Emeg Electrical 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 23 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

274,595

Additions

79,465

At 31 May 2017

354,060

DEPRECIATION

At 1 June 2016

204,460

Charge for year

34,190

At 31 May 2017

238,650

NET BOOK VALUE

At 31 May 2017

115,410

At 31 May 2016

70,135

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

26,500

DEPRECIATION

At 1 June 2016

and 31 May 2017

21,531

NET BOOK VALUE

At 31 May 2017

4,969

At 31 May 2016

4,969

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

1,208,514

1,331,146

Other debtors

138,076

141,286

1,346,590

1,472,432

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

-

283,400

Hire purchase contracts

-

3,681

Trade creditors

728,526

746,441

Taxation and social security

205,989

562,979

Other creditors

338,266

484,975

1,272,781

2,081,476

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Other creditors

149,348

234,668

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.17

31.5.16

£

£

Other loans

234,680

320,000

Hire purchase contracts

-

3,681

234,680

323,681

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is directors acting in concert.