EML Business Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09167530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

EML BUSINESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V D Medina Lorenzo

C J Medina Lorenzo

SECRETARY:

C J Medina Lorenzo

REGISTERED OFFICE:

167 Staplehurst Road

Sittingbourne

Kent

ME10 1SY

REGISTERED NUMBER:

09167530 (England and Wales)

ACCOUNTANTS:

Williams Giles Limited

Chartered Accountants

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

FIXED ASSETS

Tangible assets

4

1,349

75

Investments

5

118,146

-

119,495

75

CURRENT ASSETS

Debtors

6

70,605

540

Cash at bank

22,416

49,228

93,021

49,768

CREDITORS

Amounts falling due within one year

7

53,507

15,856

NET CURRENT ASSETS

39,514

33,912

TOTAL ASSETS LESS CURRENT LIABILITIES

159,009

33,987

CREDITORS

Amounts falling due after more than one year

8

(97,000

)

-

PROVISIONS FOR LIABILITIES

(164

)

-

NET ASSETS

61,845

33,987

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

61,745

33,887

61,845

33,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 12 December 2018 and were signed on its behalf by:

V D Medina Lorenzo - Director

C J Medina Lorenzo - Director

1.	STATUTORY INFORMATION

EML Business 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.

Preparation of consolidated financial statements

The financial statements contain information about EML Business Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover from the rendering of computer consultancy services is recognised by reference to the stage of

completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred

for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of

recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair

value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not

financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or

less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income

Statement and are measured subsequently at amortised cost.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate

method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not

capitalised.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 September 2017

1,125

Additions

1,724

At 31 August 2018

2,849

DEPRECIATION

At 1 September 2017

1,050

Charge for year

450

At 31 August 2018

1,500

NET BOOK VALUE

At 31 August 2018

1,349

At 31 August 2017

75

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

118,146

At 31 August 2018

118,146

NET BOOK VALUE

At 31 August 2018

118,146

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aprium Limited

Registered office: 167 Staplehurst Road, Sittingbourne, England, ME10 1SY

Nature of business: Provision of IT Support

%

Class of shares:

holding

Ordinary

85.00

31/12/17

31/12/16

£

£

Aggregate capital and reserves

23,030

33,630

On 1st December 2018, EML Business Limited acquired the remaining 15% of the share capital of Aprium

Limited, taking their shareholding to 100%.

Oregen Computer Training (U.K.) Limited

Registered office: 167 Staplehurst Road, Sittingbourne, England, ME10 1SY

Nature of business: Provision of IT training

%

Class of shares:

holding

Ordinary

100.00

28/2/18

28/2/17

£

£

Aggregate capital and reserves

12,683

19,189

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

-

540

Amounts falling due after more than one year:

Amounts owed by group undertakings

70,605

-

Aggregate amounts

70,605

540

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

13,322

14,683

Other creditors

40,185

1,173

53,507

15,856

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

97,000

-

9.	OTHER STRUCTURED LOANS

An analysis of the maturity of other structured loans is given below:

2018

2017

£

£

Amounts falling due within one year or on demand:

Structured loan: due in 1 year

31,800

-

Amounts falling due between one and two years:

Structured loan: 1-5 years

97,000

-