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REGISTERED NUMBER: 01835570 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ELSFAL LIMITED

ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Report of the Director 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


ELSFAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr I Smith



REGISTERED OFFICE: 23 Abbey Park Road
Grimsby
North East Lincs
DN32 0HJ



REGISTERED NUMBER: 01835570 (England and Wales)



ACCOUNTANTS: Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL



BANKERS: Nationwide
53 Victoria Street West
GRIMSBY
DN31 1UU

ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 28 FEBRUARY 2023


The director presents his report with the financial statements of the company for the year ended 28 February 2023.

DIRECTOR
Mr M B Smith held office from 1 March 2022 until after 28 February 2023 but prior to the date of this report.
Mr I Smith was appointed as a director after 28 February 2023 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr I Smith - Director


17 November 2023

ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 210
Investment property 5 230,000 315,000
230,000 315,210

CURRENT ASSETS
Debtors 1,400 1,087
Cash at bank 1,258 1,920
2,658 3,007
CREDITORS
Amounts falling due within one year 19,167 95,514
NET CURRENT LIABILITIES (16,509 ) (92,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,491

222,703

PROVISIONS FOR LIABILITIES - 40
NET ASSETS 213,491 222,663

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 3,042 3,042
Revaluation reserve 6 63,318 92,758
Profit and loss account 147,131 126,863
SHAREHOLDERS' FUNDS 213,491 222,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 17 November 2023 and were signed by:





Mr I Smith - Director


ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Elsfal Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of rents receivable and services provided during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% Straight Line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ELSFAL LIMITED (REGISTERED NUMBER: 01835570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022
and 28 February 2023 250
DEPRECIATION
At 1 March 2022 40
Charge for year 210
At 28 February 2023 250
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 210

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 315,000
Disposals (85,000 )
Revaluations 10,000
Impairments (10,000 )
At 28 February 2023 230,000
NET BOOK VALUE
At 28 February 2023 230,000
At 28 February 2022 315,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 230,000

If the investment properties had not been revalued they would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 166,682 222,242

The investment properties were valued on an open market basis on 26 March 2023 by Jackson Green Preston .

6. RESERVES
Revaluation
reserve
£   
At 1 March 2022 92,758
Revaluation of investment
property (29,440 )

At 28 February 2023 63,318