Embedded Monitoring Systems Limited Small abridged accounts
Embedded Monitoring Systems Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
NI046580
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Abridged Financial Statements |
Year ended 31 May 2017
Contents |
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Officers and professional advisers |
1 |
Directors' report |
3 |
Abridged statement of income and retained earnings |
4 |
Abridged statement of financial position |
5 |
Accounting policies |
6 |
Notes to the abridged financial statements |
9 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Accountants |
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Chartered accountant |
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54 Lisburn Road |
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Belfast |
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BT9 6AF |
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Bankers |
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PO Box 183 |
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Donegall Square West |
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BELFAST |
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BT1 6JS |
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PO Box 250 |
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Skelmerdale |
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WN8 6WT |
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34-36 Market Square |
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Lisburn |
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Co Antrim |
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BT28 1AG |
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Western House |
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Lynch Wood |
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Peterborough |
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PE2 6FZ |
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Ulster Bank |
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18 Bow Street |
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Lisburn |
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BT28 1EN |
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Santander Business Banking |
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1 Maze Meadow |
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Belfast |
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BT1 3PH |
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Nationwide Building Society |
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PO Box 3 |
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Kingspark Road |
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Moulton Park |
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Northampton |
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NN3 6NW |
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Solicitors |
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21 Arthur Street |
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Belfast |
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BT1 4GA |
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Directors' Report |
Year ended 31 May 2017
The directors present their report and the unaudited abridged financial statements of the company for the year ended
31 May 2017
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Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
27 July 2017
and signed on behalf of the board by:
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Director |
Company Secretary |
Registered office: |
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Abridged Statement of Income and Retained Earnings |
Year ended 31 May 2017
2017 |
2016 |
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Note |
£ |
£ |
Gross profit |
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Distribution costs |
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Administrative expenses |
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Operating profit |
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Other interest receivable and similar income |
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Profit before taxation |
4 |
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Tax on profit |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
(
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(
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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All the activities of the company are from continuing operations.
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Share premium account |
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Profit and loss account |
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Members funds |
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Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
27 July 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
NI046580
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Accounting Policies |
Year ended 31 May 2017
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Foreign currencies
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Financial instruments
Defined contribution plans
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Notes to the Abridged Financial Statements |
Year ended 31 May 2017
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Suite 103, Lisburn Enterprise Centre, Enterprise Crescent, Ballinderry Road, Lisburn, BT28 2BP.
2.
Statement of compliance
3.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to
8
(2016:
8
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4.
Profit before taxation
Profit before taxation is stated after (crediting)/charging:
2017 |
2016 |
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£ |
£ |
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Depreciation of tangible assets |
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------- |
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5.
Tangible assets
£ |
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Cost |
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At 1 June 2016 and 31 May 2017 |
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Depreciation |
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At 1 June 2016 |
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Charge for the year |
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At 31 May 2017 |
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Carrying amount |
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At 31 May 2017 |
449 |
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At 31 May 2016 |
1,377 |
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Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
£ |
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At 31 May 2017 |
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Aggregate cost |
16,770 |
Aggregate depreciation |
(15,392) |
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Carrying value |
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At 31 May 2016 |
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Aggregate cost |
– |
Aggregate depreciation |
– |
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Carrying value |
– |
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6.
Financial instruments at fair value
7.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the year.