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REGISTERED NUMBER:
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EMR DEVELOPMENTS LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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REGISTERED NUMBER:
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EMR DEVELOPMENTS LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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EMR DEVELOPMENTS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 New Mill Court |
Swansea Enterprise Park |
Swansea |
SA7 9FG |
EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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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 Board of Directors on
its behalf by: |
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EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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EMR Developments Ltd is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the pound sterling (£) and have been rounded |
to the nearest pound. |
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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 |
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Going concern |
During the year ended 31 December 2018, the company has made a profit, but has net liabilities of |
£11,454 as at 31 December 2018. |
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The company is reliant on the support of its directors. If this support were to be withdrawn, it would |
cast significant doubt on the company's ability to continue as a going concern. The financial |
statements do not include the adjustments that would result if the company was unable to continue as |
a going concern. |
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The directors have indicated their willingness to provide such support for the foreseeable future and as |
such believe the going concern basis is appropriate. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, |
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily |
apparent from other sources. The estimates and associated assumptions are based on historical |
experience and other factors which are considered to be relevant. Actual results may differ from these |
estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised if the revision only effects that |
period, or in the period of the revision and future periods if the revision affects both current and future |
periods. |
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The following are the critical judgements that the directors have made in the process of applying the |
company's accounting policies and that have the most significant effect on the amounts recognised in |
the financial statements. |
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Impairment of assets |
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective |
evidence of impairment, an impairment loss is recognised in the income statement. |
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Provisions and contingencies |
Provisions are recognised when the company has a present obligation as a result of a past event and a |
reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities |
are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only |
disclosed if an inflow of economic benefits is probable. |
EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Turnover |
Turnover relates to rent receivable excluding value added tax and is recognised over the period to |
which it relates. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment properties are included in the balance sheet at their open market or fair value, with the |
change recognised in the income statement in accordance with the requirements of FRS 102. |
Surpluses or deficits are transferred from Retained Earnings to the fair value reserve. |
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Stocks |
Stocks represent land and property in the course of construction or, in respect of completed |
construction, that which is held with the intention of resale. |
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Stocks are stated at the lower of cost and net realisable value (the estimated open market value). |
Where cost exceeds the value of the property, then adjustments are made to write down the carrying |
value accordingly. |
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Financial instruments |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially |
measured at transaction price unless the arrangement constitutes a financing transaction, where the |
transaction is measured at the present value of the future receipts discounted at a market rate of |
interest. |
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Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price |
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at |
the present value of the future receipts discounted at a market rate of interest. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax |
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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet 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. |
EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Investment | and |
properties | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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9. | RELATED PARTY DISCLOSURES |
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Included in creditors is a loan of £275,488 (2018-£275,475) due to the directors. This represents a loan |
which is unsecured, interest free and the directors have agreed not to withdraw £260,488 (2018:- |
£260,475) within the next 12 months. |
EMR DEVELOPMENTS LTD (REGISTERED NUMBER: 09306277) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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10. | POST BALANCE SHEET EVENTS |
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Subsequent to the balance sheet date, the company disposed of its stock of development land to a |
pension scheme. |