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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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EMC-ENERGY MARKET CONSULTANTS (UK) LTD |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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EMC-ENERGY MARKET CONSULTANTS (UK) LTD |
EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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EMC-ENERGY MARKET CONSULTANTS (UK) LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
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BANKERS: |
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Oxford Circus Branch |
15 Great Portland Street |
London |
W1A 4TR |
EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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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Capital contribution reserve | 10 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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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
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EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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EMC-Energy Market Consultants (UK) Ltd is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover 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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Goodwill and intangible fixed assets |
Goodwill and intellectual property, being the amounts paid in connection with the acquisition of a business in |
2006, are being amortised evenly over their estimated useful life of ten years. |
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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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Tangible fixed assets |
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Leasehold Improvements | - |
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Fixtures, fittings & equipment | - |
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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 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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet 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. |
EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Intellectual |
Goodwill | property | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | fittings |
Improvements | & equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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6. | DEBTORS |
2016 | 2015 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Net wages | - | 634 |
Prepayments and accrued income |
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Amounts falling due after more than one year: |
Prepayments and accrued income |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Fees received in advance |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £10 | 150,000 | 150,000 |
EMC-ENERGY MARKET CONSULTANTS (UK) LTD (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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10. | RESERVES |
Capital |
Retained | contribution |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 January 2016 | ( |
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(44,393 | ) |
Profit for the year |
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At 31 December 2016 |
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26,647 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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During the year EMC- Energy Market Consultants (UK) Limited provided consultancy services in the sum of |
£750,000 (2015: £720,000) to EWIC PTE Limited (Singapore). Energy Market Consultants (UK) Limited is |
connected to EWIC PTE Limited (Singapore) by virtue of common control. |
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EMC- Energy Market Consultants (UK) Limited has received a long term interest free loan from Energy |
International Limited (a company registered in the British Virgin Islands). During the year the company made |
loan repayments of £72,000 (2015: £72,000) . |
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As at 31 December 2016 EMC - Energy Market Consultants (UK) Limited owed £88,584 (2015: £160,584) to |
Energy International Limited, fair value of the loan payable at 31.12.2016 is £57,202. |
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Energy International Limited holds the head lease on the building that EMC- Energy Market Consultants (UK) |
Limited occupies. There is no formal lease in place between the two parties, however there is an understanding |
that EMC- Energy Market Consultants (UK) Limited will pay for all the facilities costs, including ground rent on |
behalf of Energy International Limited as it occupies the building. |
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EMC- Energy Market Consultants (UK) and Energy International Limited are related by virtue of having a |
common director. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is MAAT Estates Corporation Limited, a company which is incorporated in the |
British Virgin islands. |