Company Registration No. 07293682 (England and Wales)
Elm Solutions Group Ltd
Unaudited financial statements
for the year ended 31 December 2022
Pages for filing with the registrar
Elm Solutions Group Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Elm Solutions Group Ltd
Statement of financial position
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
21,241
21,241
Current assets
Debtors
4
1,000
1,000
Creditors: amounts falling due within one year
5
(21,241)
(21,241)
Net current liabilities
(20,241)
(20,241)
Net assets
1,000
1,000
Capital and reserves
Called up share capital
6
667
667
Capital redemption reserve
333
333
Total equity
1,000
1,000

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Elm Solutions Group Ltd
Statement of financial position (continued)
As at 31 December 2022
Page 2
The financial statements were approved by the board of directors and authorised for issue on 19 October 2023 and are signed on its behalf by:
Nicholas Elliott
Director
Company Registration No. 07293682
Elm Solutions Group Ltd
Notes to the financial statements
For the year ended 31 December 2022
Page 3
1
Accounting policies
Company information

Elm Solutions Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Genesis Centre, Garrett Field, Birchwood, Warrington, Cheshire, WA3 7BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Elm Solutions Group Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2022
1
Accounting policies (continued)
Page 4
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
-
0
-
0
Elm Solutions Group Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2022
Page 5
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
21,241
21,241
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
1,000
1,000
5
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
21,241
21,241
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
667
667
667
667
7
Related party transactions

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due to related parties
£
£
Entities over which the shareholders have control
21,241
21,241

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due from related parties
£
£
Key management personnel
667
667
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