Emtec Building Services North Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC522691 (Scotland)

Financial Statements for the Year Ended 31 May 2018

for

EMTEC BUILDING SERVICES NORTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M McCabe

A McCabe

J G Workman

S P Stevenson

A D Crozier

B Falcus

REGISTERED OFFICE:

29 Brandon Street

Hamilton

ML3 6DA

REGISTERED NUMBER:

SC522691 (Scotland)

AUDITORS:

Sharles Audit Limited

Statutory Auditors

29 Brandon Street

Hamilton

ML3 6DA

FIXED ASSETS

Tangible assets

5

36,655

-

CURRENT ASSETS

Debtors

6

1,465,643

753,594

Cash at bank and in hand

778,442

882,605

2,244,085

1,636,199

CREDITORS

Amounts falling due within one year

7

1,475,133

1,552,038

NET CURRENT ASSETS

768,952

84,161

TOTAL ASSETS LESS CURRENT LIABILITIES

805,607

84,161

PROVISIONS FOR LIABILITIES

6,964

-

NET ASSETS

798,643

84,161

CAPITAL AND RESERVES

Called up share capital

100

200

Retained earnings

798,543

83,961

798,643

84,161

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 29 January 2019 and were signed on its behalf by:

S P Stevenson - Director

1.	STATUTORY INFORMATION

Emtec Building Services North Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition

Turnover is derived from the various activities of the company operating as a contractor.

Turnover therefore represents the fair value of work done and service supplied, net of discounts and excluding

value added tax, and is recognised at the point that the company obtains the right to consideration.

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.

Plant and machinery etc

-

25% on reducing balance and Straight line over 5 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is

not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of

the cash-generating unit to which the asset belongs.

Expenditure of £5,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets

below this threshold is charged directly to the income statement in the period it is incurred.

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.

Taxation

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2017 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

48,508

At 31 May 2018

48,508

DEPRECIATION

Charge for year

11,853

At 31 May 2018

11,853

NET BOOK VALUE

At 31 May 2018

36,655

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

36,965

Amounts recoverable on contracts

1,453,996

714,930

Other debtors

11,647

1,699

1,465,643

753,594

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,030,408

1,060,603

Amounts owed to group undertakings

233,994

374,820

Taxation and social security

161,393

95,024

Other creditors

49,338

21,591

1,475,133

1,552,038

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Keith Edwards (Senior Statutory Auditor)

for and on behalf of Sharles Audit Limited

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2018 and the period

ended 31 May 2017:

2018

2017

£

£

A D Crozier

Balance outstanding at start of year

127

-

Amounts advanced

30

127

Amounts repaid

(127

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30

127

B Falcus

Balance outstanding at start of year

96

-

Amounts advanced

19

96

Amounts repaid

(96

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19

96

The above advances were repaid shortly after the year end.

10.	RELATED PARTY DISCLOSURES

The company has an intercompany loan balance with Emtec Group Ltd and its subsidiary undertakings. This

loan is unsecured, interest free and has no fixed repayment terms. At the year end the company owed Emtec

Group Ltd and its subsidiary undertakings £233,994 (2017 - £374,820).

11.	CONTROLLING PARTY

The controlling party is Emtec Group Ltd.