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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED |
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
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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 |
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Notes to the Financial Statements | 3 |
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EMC - ENERGY MARKET CONSULTANTS (UK) |
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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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) |
LIMITED (REGISTERED NUMBER: 05633579) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income 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) |
LIMITED (REGISTERED NUMBER: 05633579) |
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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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EMC - Energy Market Consultants (UK) Limited is a
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and Wales. 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 (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and |
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or |
receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also |
be met before revenue is recognised: |
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Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably |
- it is probable that the company will receive the consideration due under the contract |
- the stage of completion of the contract at the end of the reporting period can be measured reliably and |
- the costs incurred and the costs to complete the contract can be measured reliably |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Leasehold Improvements - over the expected life of the lease |
Fixtures, fittings & equipment - 20% reducing balance |
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Until December 2016 leasehold improvements were amortised at an annual rate of 2% on a reducing balance |
basis. The directors have now revised their estimate of the useful economic life of the leasehold improvements. |
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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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EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
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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 |
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. |
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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. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | fittings |
Improvements | & equipment | 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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EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Fees received in advance |
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Trade creditors |
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Amounts owed to group undertakings | - | 16,584 |
Corporation Tax payable |
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Social security and other taxes |
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VAT | 7,096 | 6,935 |
Other creditors |
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Credit card | (463 | ) | 1,654 |
Net wages | - | 75,753 |
Director's current account | - | 46,409 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £10 | 150,000 | 150,000 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2018 |
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Profit for the year |
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At 31 December 2018 |
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9. | 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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EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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10. | RELATED PARTY DISCLOSURES |
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During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services in the sum of £nil |
(2017: £560,000) to EWCI PTE Limited (Singapore). |
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As at 31 December 2018 EMC-Energy Market Consultants (UK) Ltd was owed £nil (2017: £75,000) by EWCI |
PTE Ltd (Singapore). |
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EMC-Energy Market Consultants (UK) Ltd is connected to EWCI PTE Ltd (Singapore) by virtue of common |
control. |
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EMC-Energy Market Consultants (UK) Ltd 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 £nil (2017: 72,000). |
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As at 31 December 2018 EMC-Energy Market Consultants (UK) Ltd owed £nil (2017: 16,584) to Energy |
International Limited. |
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Energy International Limited holds the head lease on the building that EMC-Energy Market Consultants (UK) |
Ltd occupies. There is no formal lease in place between the two parties, however there is an understanding that |
EMC-Energy Market Consultants (UK) Ltd 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) Ltd and Energy International Limited are related by virtue of having a |
common director. |
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During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services in the sum of |
£340,766 (2017: 200,000) to Facts Global Energy Ltd (Hong Kong). |
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As at 31 December 2018 EMC-Energy Market Consultants (UK) Ltd was owed £144,568 by Facts Global |
Energy Ltd (Hong Kong). |
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EMC-Energy Market Consultants (UK) Ltd is connected to Facts Global Energy Ltd (Hong Kong) by virtue of |
common contact. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is MAAT Estates Corporation Limited, OMC Chambers, PO Box 3152, Road |
Town, Tortola, British Virgin Islands |