Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01false44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01293689 2022-05-01 2023-04-30 01293689 2021-05-01 2022-04-30 01293689 2023-04-30 01293689 2022-04-30 01293689 c:Director1 2022-05-01 2023-04-30 01293689 d:Buildings 2022-05-01 2023-04-30 01293689 d:Buildings 2023-04-30 01293689 d:Buildings 2022-04-30 01293689 d:Buildings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01293689 d:MotorVehicles 2022-05-01 2023-04-30 01293689 d:FurnitureFittings 2022-05-01 2023-04-30 01293689 d:FurnitureFittings 2023-04-30 01293689 d:FurnitureFittings 2022-04-30 01293689 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01293689 d:ComputerEquipment 2022-05-01 2023-04-30 01293689 d:ComputerEquipment 2023-04-30 01293689 d:ComputerEquipment 2022-04-30 01293689 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01293689 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01293689 d:CurrentFinancialInstruments 2023-04-30 01293689 d:CurrentFinancialInstruments 2022-04-30 01293689 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01293689 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 01293689 d:ShareCapital 2023-04-30 01293689 d:ShareCapital 2022-04-30 01293689 d:RetainedEarningsAccumulatedLosses 2023-04-30 01293689 d:RetainedEarningsAccumulatedLosses 2022-04-30 01293689 c:OrdinaryShareClass1 2022-05-01 2023-04-30 01293689 c:OrdinaryShareClass1 2023-04-30 01293689 c:OrdinaryShareClass1 2022-04-30 01293689 c:FRS102 2022-05-01 2023-04-30 01293689 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 01293689 c:FullAccounts 2022-05-01 2023-04-30 01293689 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01293689 2 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01293689









ELM INVESTMENTS (WESTERN) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
ELM INVESTMENTS (WESTERN) LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 7


 
ELM INVESTMENTS (WESTERN) LIMITED
REGISTERED NUMBER:01293689

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
209,459
210,182

Current assets
  

Stocks
 5 
528,159
366,401

Debtors: amounts falling due within one year
 6 
24,157
12,718

Cash at bank and in hand
  
1,296,445
1,411,421

  
1,848,761
1,790,540

Creditors: amounts falling due within one year
 7 
(43,356)
(25,517)

Net current assets
  
 
 
1,805,405
 
 
1,765,023

Total assets less current liabilities
  
2,014,864
1,975,205

Provisions for liabilities
  

Deferred tax
  
(1,442)
(1,024)

  
 
 
(1,442)
 
 
(1,024)

Net assets
  
2,013,422
1,974,181


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
2,003,422
1,964,181

  
2,013,422
1,974,181


Page 1

 
ELM INVESTMENTS (WESTERN) LIMITED
REGISTERED NUMBER:01293689
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S D Stowell
Director

Date: 1 November 2023

Page 2

 
ELM INVESTMENTS (WESTERN) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Elm Investments (Western) Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The address of the registered office is Portwall Place, Portwall Lane, Bristol, BS1 6NA and its registered number is 01293689.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Companies Act 2006.
The accounts have been prepared on a going concern basis. The directors are satisfied that the company can continue as a going concern for the foreseeable future and have agreed to continue to support the company for at least the next 12 months.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue from the sale of precious metals is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax. The following criteria must also be met before revenue is recognised:
 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15% reducing balance
Computer equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold property is not depreciated as it is principally in respect of land.

Page 3

 
ELM INVESTMENTS (WESTERN) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the company’s cash management.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

 
2.6

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 4

 
ELM INVESTMENTS (WESTERN) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
ELM INVESTMENTS (WESTERN) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Freehold property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2022
214,124
25,830
4,730
244,684



At 30 April 2023

214,124
25,830
4,730
244,684



Depreciation


At 1 May 2022
7,756
22,804
3,942
34,502


Charge for the year on owned assets
-
462
261
723



At 30 April 2023

7,756
23,266
4,203
35,225



Net book value



At 30 April 2023
206,368
2,564
527
209,459



At 30 April 2022
206,368
3,026
788
210,182


5.


Stocks

2023
2022
£
£

Goods for resale
528,159
366,401


Page 6

 
ELM INVESTMENTS (WESTERN) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Debtors

2023
2022
£
£


Trade debtors
13,032
500

Other debtors
235
-

Prepayments
10,890
12,218

24,157
12,718



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
28,726
2,958

VAT payable
4,852
13,805

Accruals
9,778
8,754

43,356
25,517



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



9.


Related party transactions

During the year, dividends of £60,000 (2022 - £60,000) were paid to directors of the company.

 
Page 7