REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
FOR |
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
FOR |
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED |
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: |
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
AUDITORS: |
|
Chartered Accountants |
and Statutory Auditors |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
|
|
BANKERS: |
|
Oxford Circus Branch |
15 Great Portland Street |
London |
W1A 4TR |
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
BALANCE SHEET |
31 DECEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) |
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
1. | STATUTORY INFORMATION |
|
EMC - Energy Market Consultants (UK) Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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: |
|
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 |
|
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
|
Leasehold Improvements - over the expected life of the lease |
Fixtures, fittings & equipment - 20% reducing balance |
|
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. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
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. |
|
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. |
|
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. |
|
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. |
|
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. |
|
Going concern |
The financial statements are prepared on a going concern basis. |
|
The net current liabilities position of the company and its impact of the basis of preparation is discussed in Note 6. |
|
The directors consider the going basis remains appropriate. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | fittings |
Improvements | & equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
|
|
|
Additions |
|
|
|
At 31 December 2021 |
|
|
|
DEPRECIATION |
At 1 January 2021 |
|
|
|
Charge for year |
|
|
|
At 31 December 2021 |
|
|
|
NET BOOK VALUE |
At 31 December 2021 |
|
|
|
At 31 December 2020 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
VAT |
|
|
Deferred tax asset |
|
|
Prepayments and accrued income |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Fees received in advance |
|
|
Trade creditors |
|
|
Social security and other taxes |
|
|
VAT | - | 26,041 |
Other creditors |
|
( |
) |
Credit card | (717 | ) | (620 | ) |
Net wages | 756 | - |
Accrued expenses |
|
|
|
|
EMC - ENERGY MARKET CONSULTANTS (UK) |
LIMITED (REGISTERED NUMBER: 05633579) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
8. | RELATED PARTY DISCLOSURES |
|
Energy International Limited (BVI) 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 (BVI) as it occupies the building. |
|
EMC-Energy Market Consultants (UK) Ltd and Energy International Limited (BVI) are related by virtue of having a common director. |
|
During the year EMC-Energy Market Consultants (UK) Ltd provided consultancy services worth £685,922 (2020: £458,259) to Facts Global Energy Ltd (Hong Kong). |
|
During the year EMC-Energy Market Consultants (UK) Ltd recharged administrative costs of £Nil (2020: £247,259) to Facts Global Energy Ltd (Hong Kong). These recharged costs are presented within other income. |
|
As at 31 December 2021 EMC-Energy Market Consultants (UK) Ltd was owed £283,182 (2020: £675,480) by Facts Global Energy Ltd (Hong Kong). |
|
EMC-Energy Market Consultants (UK) Ltd is connected to Facts Global Energy Ltd (Hong Kong) by virtue of both companies being subsidiaries of the Facts Global Energy group of companies and having a common director. |
|
9. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is MAAT Estates Corporation Limited, OMC Chambers, PO Box 3152, Road Town, Tortola, British Virgin Islands |