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REGISTERED NUMBER: 09603842 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

ELS Futures Limited

ELS Futures Limited (Registered number: 09603842)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ELS Futures Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: I C Milburn





REGISTERED OFFICE: Sunnycroft
Tarvin Road
Manley
Cheshire
WA6 9EW





REGISTERED NUMBER: 09603842 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

ELS Futures Limited (Registered number: 09603842)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 10,334 15,476
Investments 6 81,708 87,946
Investment property 7 500,000 423,803
592,042 527,225

CURRENT ASSETS
Debtors: amounts falling due within one year 8 1,147 629
Debtors: amounts falling due after more than
one year

8

-

14,500
Cash at bank 169,587 148,992
170,734 164,121
CREDITORS
Amounts falling due within one year 9 (85,395 ) (93,991 )
NET CURRENT ASSETS 85,339 70,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

677,381

597,355

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 677,278 597,252
SHAREHOLDERS' FUNDS 677,381 597,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

ELS Futures Limited (Registered number: 09603842)

Statement of Financial Position - continued
31 March 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





I C Milburn - Director


ELS Futures Limited (Registered number: 09603842)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

ELS Futures Limited ('The Company') is an investment company.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and the registered office is Sunnycroft, Tarvin Road, Manley, Cheshire, WA6 9EW. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting polices
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director.

Therefore the director considers it appropriate to prepare the financial statements on the going concern 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Investment property
Investment property is shown at fair value, the fair value is reviewed annually by the director. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. The cumulative fair value surplus on the investment property is highlighted in the notes to the financial statements as non-distributable reserves. Rentals are recognised on a straight line basis over the period of the lease or to the date of the next rent review. Rental income is included in turnover.


ELS Futures Limited (Registered number: 09603842)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 end of the financial year.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year.

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.

Fixed asset investments
Listed investments are shown at fair value, the fair value is reviewed annually by the director. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income.

Unlisted investments are shown at cost less any impairment loss.

Investment income from both listed investments and unlisted investments is included in other income.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset may be impaired. If such indications exist, the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

ELS Futures Limited (Registered number: 09603842)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,845 24,727 989 27,561
Additions - 2,003 - 2,003
At 31 March 2023 1,845 26,730 989 29,564
DEPRECIATION
At 1 April 2022 461 10,635 989 12,085
Charge for year 462 6,683 - 7,145
At 31 March 2023 923 17,318 989 19,230
NET BOOK VALUE
At 31 March 2023 922 9,412 - 10,334
At 31 March 2022 1,384 14,092 - 15,476

6. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 86,945 1,001 87,946
Additions 3,995 - 3,995
Profit/(loss) on investments (10,233 ) - (10,233 )
At 31 March 2023 80,707 1,001 81,708
NET BOOK VALUE
At 31 March 2023 80,707 1,001 81,708
At 31 March 2022 86,945 1,001 87,946

Cost or valuation at 31 March 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Cost 80,707 1,001 81,708

ELS Futures Limited (Registered number: 09603842)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 423,803
Revaluations 76,197
At 31 March 2023 500,000
NET BOOK VALUE
At 31 March 2023 500,000
At 31 March 2022 423,803

In the opinion of the director, the fair value of the investment property at 31 March 2023 is £500,000.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 76,197
Cost 423,803
500,000

8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 1,147 629

Amounts falling due after more than one year:
Other debtors - 14,500

Aggregate amounts 1,147 15,129

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,191 478
Taxation and social security 2,649 3,728
Other creditors 77,555 89,785
85,395 93,991

ELS Futures Limited (Registered number: 09603842)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

10. RELATED PARTY DISCLOSURES

During the year an amount of £14,716 (2022: £nil) due from a related party has been written off.

At 31 March 2023 there were amounts of £68,030 (2022: £77,838) and £4,000 (2022: £2,000) outstanding to persons connected to the director and these are included within other creditors: amounts falling due within one year.

During the year interest payable of £4,380 (2022: £8,033) has been incurred by the company in respect of the above amounts. At 31 March 2023 this remains unpaid and is included with accruals: amounts falling due within one year. Rents charged to the director and a person connected to the director during the year amounted to £3,432 (2022: £10,201).