EMC_INVESTMENT - Accounts

EMC INVESTMENT LIMITED - Company Information

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Company Registration No. 04720201 (England and Wales)

EMC INVESTMENT

A PRIVATE UNLIMITED COMPANY

HAVING A SHARE CAPITAL

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

EMC INVESTMENT

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

EMC INVESTMENT

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

645,000

Current assets

Debtors

2,787

Cash at bank and in hand

1,495

11,221

4,282

11,221

Creditors: amounts falling due within one year

(108,955)

(103,532)

Net current liabilities

(104,673)

(92,311)

Total assets less current liabilities

540,327

552,689

Capital and reserves

Called up share capital

100,000

Share premium account

265,002

Revaluation reserve

180,000

Profit and loss account

(4,675)

7,687

Shareholders' funds

540,327

552,689

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 May 2016

Mrs B M Holloway

Mr M Holloway

Director

Company Registration No. 04720201

EMC INVESTMENT

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for property rent. Income is recognised as rent falls due and the company is not registered for VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 February 2015 & at 31 January 2016

645,000

At 31 January 2015

645,000

Share capital

2016

2015

Allotted, called up and fully paid

100,000 Ordinary shares of £1 each

100,000

Related party relationships and transactions

Other transactions

The director, Mrs B. M. Holloway advanced funds to the company during the year, and as at 31 January 2016 the balance owed to her was £6,740 (2015 - £511) which is included within creditors due within one year. No interest is payable on this balance.