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REGISTERED NUMBER:
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Emerson Office Supplies Limited |
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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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Emerson Office Supplies Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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Emerson Office Supplies Limited (Registered number: NI059037) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company information | 1 |
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Statement of financial position | 2 |
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Notes to the financial statements | 3 | to | 5 |
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Emerson Office Supplies Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Armagh Business Centre |
2 Loughgall Road |
Armagh |
BT61 7NH |
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Solicitors: |
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12-14 Mandeville Street |
Portadown |
Co Armagh |
BT62 3NZ |
Emerson Office Supplies Limited (Registered number: NI059037) |
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Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ |
Fixed assets |
Property, plant and equipment | 4 |
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Current assets |
Inventories | 5 |
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Receivables | 6 |
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Cash at bank and in hand |
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Payables |
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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Provisions for liabilities | 8 | ( |
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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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The directors acknowledge their responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Emerson Office Supplies Limited (Registered number: NI059037) |
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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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Emerson Office Supplies Limited is a
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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 (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Property, plant and equipment |
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Fixtures, fittings and equipment | - |
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Motor vehicles | - |
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Inventories |
Inventories 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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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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 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 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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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of |
the future payments is treated as a liability. |
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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. |
Emerson Office Supplies Limited (Registered number: NI059037) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | Accounting policies - continued |
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Receivables |
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method, less any impairment. |
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Payables |
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Property, plant and equipment |
Fixtures, |
fittings |
and | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 January 2018 |
and 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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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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Cost |
At 1 January 2018 |
and 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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Emerson Office Supplies Limited (Registered number: NI059037) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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5. | Inventories |
2018 | 2017 |
£ | £ |
Finished goods |
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6. | Receivables: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade receivables |
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7. | Payables: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Trade payables |
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Amounts owed to group companies |
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VAT | 1,309 | 2,621 |
Accruals |
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8. | Provisions for liabilities |
2018 | 2017 |
£ | £ |
Deferred tax | 1,825 | 1,825 |
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Deferred tax |
£ |
Balance at 1 January 2018 |
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Balance at 31 December 2018 |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares | 1 | 1 | 1 |
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10. | Related party disclosures |
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The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group |
companies. |
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The Emerson Special Pension Fund is regarded to be a related party as defined by FRS 102. |
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The company rents premises at Annaloiste Road, Lurgan from The Emerson Special Pension Fund. Normal |
commercial terms including the current rent payable of £1,000 per month apply to the rental agreements. |