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REGISTERED NUMBER: 01148931 (England and Wales)















ELBMAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021






ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


ELBMAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: Mr K Rich
Mr S B Jones
Mrs P Owen
Mr C J A Comens
Mrs V A Comens



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 01148931 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Barclays Bank Plc
28 Regent Street
SWINDON
Wiltshire
SN1 1QB

ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 626,837 578,812

CURRENT ASSETS
Stocks 418,011 364,334
Debtors 5 383,557 355,282
Cash at bank and in hand 99,235 24,069
900,803 743,685
CREDITORS
Amounts falling due within one year 6 494,982 427,410
NET CURRENT ASSETS 405,821 316,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,032,658

895,087

CREDITORS
Amounts falling due after more than
one year

7

(207,379

)

(191,590

)

PROVISIONS FOR LIABILITIES (52,247 ) (42,431 )
NET ASSETS 773,032 661,066

CAPITAL AND RESERVES
Called up share capital 9 800 800
Capital redemption reserve 200 200
Retained earnings 772,032 660,066
SHAREHOLDERS' FUNDS 773,032 661,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2022 and were signed on its behalf by:





Mr K Rich - Director


ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021


1. STATUTORY INFORMATION

Elbmar Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01148931

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - depreciated to residual value
Plant and machinery - 20% on reducing balance and 10% on cost
Fixtures, fittings, office equipment and
furniture

-
20% on reducing balance and Over the term of the lease
Computer equipment - 33% on cost

Freehold property was not depreciated during the year because the residual value is considered to be the same as or more than the carrying value in the balance sheet.

Government grants
During the previous year, the company became entitled to grants under the Coronavirus Job Retention Scheme (CJRS). The amount receivable was £75,645 and was accounted for under the accruals basis.

ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2020 - 29 ) .

ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2021 352,087 1,210,316 1,562,403
Additions - 105,658 105,658
Disposals - (216,870 ) (216,870 )
At 31st December 2021 352,087 1,099,104 1,451,191
DEPRECIATION
At 1st January 2021 - 983,591 983,591
Charge for year - 56,069 56,069
Eliminated on disposal - (215,306 ) (215,306 )
At 31st December 2021 - 824,354 824,354
NET BOOK VALUE
At 31st December 2021 352,087 274,750 626,837
At 31st December 2020 352,087 226,725 578,812


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 372,563 336,183
Other debtors 10,994 19,099
383,557 355,282

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 11,692 11,692
Hire purchase contracts 26,167 25,692
Trade creditors 268,123 242,988
Taxation and social security 134,068 100,967
Other creditors 54,932 46,071
494,982 427,410

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 130,565 142,258
Hire purchase contracts 76,814 49,332
207,379 191,590

ELBMAR LIMITED (REGISTERED NUMBER: 01148931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 142,257 153,950
Hire purchase contracts 102,981 75,024
245,238 228,974

Barclays Bank Plc hold a floating charge over the assets of the company in respect of the bank overdraft and the bank loan is secured against Unit 6 Oppenheimer Centre.

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
800 Ordinary £1 800 800