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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2018 | 2017 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 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 assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 7 | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital | 8 |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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S Wardlaw | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Going concern | ||||||||
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Investments | ||||||||
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Debtors | ||||||||
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Financial instruments | ||||||||
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors , loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. | ||||||||
Creditors | ||||||||
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Interest income | ||||||||
Interest income is recognised in the profit and loss account using the effective interest method. | ||||||||
Taxation | ||||||||
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted at the reporting date. |
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2 | Employees | 2018 | 2017 | |||||
Number | Number | |||||||
Average number of persons employed by the company, including directors |
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3 | Taxation | 2018 | 2017 | |||||
£ | £ | |||||||
Current tax | 2,751 | - | ||||||
2,751 | - | |||||||
Pre-trading expenses of approximately £135,750 (2017: £135,750) are being carried forward for relief against future trading profits. The company has not recognised a deferred tax asset in respect of these pre-trading expenses due to the uncertainty as to their utisation. | ||||||||
4 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 September 2017 |
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At 31 August 2018 |
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The company holds 83.27% of the Ordinary shares and A shares of Emerald Life Limited, a company incorporated in England. The principal activity of Emerald Life Limited is the provision of general insurance in the United Kingdom. | ||||||||
5 | Debtors | 2018 | 2017 | |||||
£ | £ | |||||||
Amounts owed by group undertakings |
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Other debtors | - |
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Amounts due after more than one year included above |
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6 | Creditors: amounts falling due within one year | 2018 | 2017 | |||||
£ | £ | |||||||
Corporation tax |
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Other creditors |
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7 | Creditors: amounts falling due after one year | 2018 | 2017 | |||||
£ | £ | |||||||
Other creditors |
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8 | Share capital | 2018 | 2017 | |||||
£ | £ | |||||||
Allotted, called up and fully paid | ||||||||
10,000 Ordinary shares of £1 each | 10,000 | 10,000 | ||||||
10,000 | 10,000 | |||||||
9 | Related party transactions | |||||||
At the balance sheet date, H McCormack held 4,000 Ordinary £1 shares in the company and S Wardlaw held 6,000 Ordinary £1 shares in the company. At 31 August 2018, debtors due in more than one year represent loans owed by the company's subsidiary, Emerald Life Limited and include accrued interest to date of £136,586 (2017: £61,184). The loans attract interest at an annual rate of 10%. |
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10 | Controlling party | |||||||
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11 | Other information | |||||||
Emerald Village Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
LF 2.4 The Leathermarket | ||||||||
11-13 Weston Street | ||||||||
London | ||||||||
SE1 3ER |