Emerak Consulting Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07327511 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

EMERAK CONSULTING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C P Nolan

REGISTERED OFFICE:

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

REGISTERED NUMBER:

07327511 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Chartered Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

FIXED ASSETS

Tangible assets

4

2,249

3,722

CURRENT ASSETS

Debtors

5

24,408

18,571

Cash at bank

2,701

152

27,109

18,723

CREDITORS

Amounts falling due within one year

6

41,640

19,280

NET CURRENT LIABILITIES

(14,531

)

(557

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,282

)

3,165

CREDITORS

Amounts falling due after more than one year

7

(17,833

)

-

PROVISIONS FOR LIABILITIES

8

-

(458

)

NET (LIABILITIES)/ASSETS

(30,115

)

2,707

CAPITAL AND RESERVES

Called up share capital

9

500

500

Retained earnings

(30,615

)

2,207

SHAREHOLDERS' FUNDS

(30,115

)

2,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 1 May 2018 and were signed by:

C P Nolan - Director

1.	STATUTORY INFORMATION

Emerak Consulting Services 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.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that

affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policy adopted for the recognition of turnover is as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

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 cost

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.

Pension costs and other post-retirement benefits

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or asset's cash generating unit, is estimated and

compared to its carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in the profit and loss, unless it's carried at a revalued amount, where the impairment loss is a revaluation

decrease.

Short-term employees benefits

Short-term employees' benefits are recognised as an expense in the period in which they are incurred.

Going concern

The company has prepared it's accounts on a going concern basis as the director has confirmed they will continue to

support the entity for a period of twelve months from the date the financial statements are signed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

9,342

DEPRECIATION

At 1 April 2016

5,620

Charge for year

1,473

At 31 March 2017

7,093

NET BOOK VALUE

At 31 March 2017

2,249

At 31 March 2016

3,722

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

24,408

18,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,001

5,090

Trade creditors

2,303

9,193

Taxation and social security

2,016

-

Other creditors

35,320

4,997

41,640

19,280

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

17,833

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

7,828

-

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

-

458

Deferred

tax

£

Balance at 1 April 2016

458

Decelerated capital allowances

(458

)

Balance at 31 March 2017

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

500

Ordinary

£1

500

500

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and 31 March 2016:

2017

2016

£

£

C P Nolan

Balance outstanding at start of year

8,780

20,286

Amounts advanced

-

4,994

Amounts repaid

(8,780

)

(16,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

8,780

11.	RELATED PARTY DISCLOSURES

At the year end, the company owed key management personnel £9,570 (2016 - £nil).

12.	FIRST YEAR ADOPTION

This is the first year that the Company had presented its financial statements under Financial Reporting Standards 102

Section 1A (FRS 102) issued by Financial Reporting Council. The last financial statements prepared under the previous UK

GAAP were for the year ended 31 March 2016 and the date of transition is therefore 1 April 2015. As a consequence of

adopting FRS 102 the director is of the opinion that no changes need to be made upon transition to this accounting

standard as the effect of any changes are not material.