Emerald IP Limited
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Notes to the Accounts |
for the year ended 31 August 2018
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Going concern |
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The directors consider the going concern basis to be appropriate as they will provide financial support to the company as required to enable it to meets its liabilities. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2 |
Intangible fixed assets |
£ |
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Development: |
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Cost |
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At 1 September 2017 |
9,946 |
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At 31 August 2018 |
9,946 |
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Amortisation |
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At 1 September 2017 |
9,946 |
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At 31 August 2018 |
9,946 |
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Net book value |
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At 31 August 2018 |
- |
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3 |
Creditors: amounts falling due within one year |
2018 |
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2017 |
£ |
£ |
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Directors' loan accounts |
9,846 |
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9,846 |
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4 |
Controlling party |
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The company is under the control of Mr S Wardlaw by virtue of his majority shareholding.
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5 |
Other information |
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Emerald IP Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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LF2.4 The Leathermarket |
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11-13 Weston Street |
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London |
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SE1 3ER |