REGISTERED NUMBER: |
EMERALD LIFE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
REGISTERED NUMBER: |
EMERALD LIFE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EMERALD LIFE LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 August 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
ABRIDGED BALANCE SHEET |
31 August 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | 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. |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
ABRIDGED BALANCE SHEET - continued |
31 August 2022 |
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 |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2022 |
1. | STATUTORY INFORMATION |
Emerald Life Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax, from the provision of agency sales during the period. Turnover is recognised according to the stage of completion of the contract to which it relates. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
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. |
Tangible fixed assets |
Office equipment | - |
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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2021 |
Additions |
At 31 August 2022 |
AMORTISATION |
At 1 September 2021 |
Amortisation for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2021 |
and 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31/8/22 | 31/8/21 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 1,105 |
EMERALD LIFE LIMITED (REGISTERED NUMBER: 07201151) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2022 |
7. | RELATED PARTY DISCLOSURES |
Emerald IP Limited, a company in which Ms H McCormack and Mr S Wardlaw are directors and shareholders, owed the company £2,458 as at 31 August 2022 (2021: £2,211) in respect of business expenses incurred by the company on its behalf. |
At the balance sheet date the total aggregate loans from shareholders amounted to £2,350,505 (2021: £2,201,644) including interest. The loans are unsecured, repayable in more than one year from the balance sheet date and attract a non-compounding interest rate of 5%. Included in these loans is an amount due to Emerald Village Holdings Limited, the parent company, of £1,239,084 (2021: £1,019,908) including interest. |
During the year the company paid management charges to its parent company, Emerald Village Holdings Limited, of £7,923 (2021: £26,352) for the provision of staff. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |