REGISTERED NUMBER:
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ADAPT EMS LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2019 |
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REGISTERED NUMBER:
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ADAPT EMS LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2019 |
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ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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Company Information | 1 |
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Accountants' Report | 2 |
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Abridged Statement of Financial Position | 3 | to | 4 |
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Notes to the Financial Statements | 5 | to | 8 |
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ADAPT EMS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ADAPT EMS LTD |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required |
to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Director are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Adapt ems Ltd for the year ended 30th June 2019 which comprise the Income |
Statement, Abridged Statement of Financial Position, Statement of Changes in Equity and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Adapt ems Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Adapt ems Ltd and state those matters that we have agreed to state to the director of Adapt ems Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adapt ems Ltd and its director for our work or for this report. |
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It is your duty to ensure that Adapt ems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Adapt ems Ltd. You consider that Adapt ems Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Adapt ems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
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ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
30TH JUNE 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Property, plant and equipment | 6 |
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CURRENT ASSETS |
Inventories |
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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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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
30TH JUNE 2019 |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
signed by: |
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ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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1. | STATUTORY INFORMATION |
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Adapt ems Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements are prepared on a going concern basis and under the historical cost |
convention. |
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Significant judgements and estimates |
No significant judgements or estimates have had to be made by the directors in preparing these |
financial statements. |
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Revenue |
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other |
taxes of sales made during the year. |
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Revenue recognition |
Revenue is recognised when goods have been delivered to customers such that risks and rewards of |
ownership have transferred to them. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Property, plant and equipment |
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Plant and machinery etc | - |
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Inventories |
Inventories and work in progress are valued at the lower of cost and net realisable value, after making |
due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing inventories to their present location and condition. |
ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes |
recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter |
at fair value with changes recognised in profit or loss. |
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Tax |
Tax 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. |
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Current or deferred tax assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not |
reversed at the statement of financial position date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the statement of financial position date. Transactions in foreign currencies are translated into sterling |
at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in |
arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over |
the period of the lease. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
Cost |
At 1st July 2018 |
and 30th June 2019 |
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Amortisation |
At 1st July 2018 |
and 30th June 2019 |
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Net book value |
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At 30th June 2019 |
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At 30th June 2018 |
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6. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
£ |
Cost |
At 1st July 2018 |
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Additions |
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At 30th June 2019 |
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Depreciation |
At 1st July 2018 |
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Charge for year |
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At 30th June 2019 |
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Net book value |
At 30th June 2019 |
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At 30th June 2018 |
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The obligations under finance leases are secured against the items of plant and machinery to which |
they relate that have a carrying amount of £7,954 (2018 : £90,257). |
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7. | LEASING AGREEMENTS |
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Contractual commitments for the acquisition of property, plant and equipment amounted to £130,000 |
at the year end (2018 : £132,705). |
ADAPT EMS LTD (REGISTERED NUMBER: 01973147) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2019 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdrafts |
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Hire purchase contracts | 5,122 | 47,671 |
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The bank overdraft, factoring facilities and hire purchase contracts are secured by a fixed and floating |
charge over the company's assets. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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10. | ULTIMATE PARENT AND CONTROLLING PARTY |
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The ultimate parent company and controlling party is Incatronix Limited. The company's registered |
office is Richmond House, Walkern Road, Stevenage, Hertfordshire, SG1 3QP. |