Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312MOBILE HOME PARK OPERATORSThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01falsetrue2true 01140657 2022-02-01 2023-01-31 01140657 2021-02-01 2022-01-31 01140657 2023-01-31 01140657 2022-01-31 01140657 2021-02-01 01140657 c:Director2 2022-02-01 2023-01-31 01140657 d:Buildings 2022-02-01 2023-01-31 01140657 d:Buildings 2023-01-31 01140657 d:Buildings 2022-01-31 01140657 d:Buildings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 01140657 d:PlantMachinery 2022-02-01 2023-01-31 01140657 d:PlantMachinery 2023-01-31 01140657 d:PlantMachinery 2022-01-31 01140657 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 01140657 d:FurnitureFittings 2022-02-01 2023-01-31 01140657 d:FurnitureFittings 2023-01-31 01140657 d:FurnitureFittings 2022-01-31 01140657 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 01140657 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 01140657 d:FreeholdInvestmentProperty 2022-02-01 2023-01-31 01140657 d:FreeholdInvestmentProperty 2023-01-31 01140657 d:FreeholdInvestmentProperty 2022-01-31 01140657 d:CurrentFinancialInstruments 2023-01-31 01140657 d:CurrentFinancialInstruments 2022-01-31 01140657 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01140657 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 01140657 d:ShareCapital 2023-01-31 01140657 d:ShareCapital 2022-01-31 01140657 d:InvestmentPropertiesRevaluationReserve 2022-02-01 2023-01-31 01140657 d:InvestmentPropertiesRevaluationReserve 2023-01-31 01140657 d:InvestmentPropertiesRevaluationReserve 2022-01-31 01140657 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 01140657 d:RetainedEarningsAccumulatedLosses 2023-01-31 01140657 d:RetainedEarningsAccumulatedLosses 2022-01-31 01140657 c:OrdinaryShareClass1 2022-02-01 2023-01-31 01140657 c:OrdinaryShareClass1 2023-01-31 01140657 c:OrdinaryShareClass1 2022-01-31 01140657 c:OrdinaryShareClass2 2022-02-01 2023-01-31 01140657 c:OrdinaryShareClass2 2023-01-31 01140657 c:OrdinaryShareClass2 2022-01-31 01140657 c:OrdinaryShareClass3 2022-02-01 2023-01-31 01140657 c:OrdinaryShareClass3 2023-01-31 01140657 c:OrdinaryShareClass3 2022-01-31 01140657 c:FRS102 2022-02-01 2023-01-31 01140657 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 01140657 c:FullAccounts 2022-02-01 2023-01-31 01140657 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 01140657 2 2022-02-01 2023-01-31 01140657 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01140657 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01140657









ELMS CARAVAN COMPANY LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
ELMS CARAVAN COMPANY LIMITED
REGISTERED NUMBER: 01140657

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
666,922
721,706

Investment property
 5 
847,539
844,889

  
1,514,461
1,566,595

Current assets
  

Debtors: amounts falling due within one year
 6 
20,733
16,404

Cash at bank and in hand
 7 
109,069
40,518

  
129,802
56,922

Creditors: amounts falling due within one year
 8 
(417,596)
(463,450)

Net current liabilities
  
 
 
(287,794)
 
 
(406,528)

Total assets less current liabilities
  
1,226,667
1,160,067

Provisions for liabilities
  

Deferred tax
 9 
(54,429)
(41,366)

Net assets
  
1,172,238
1,118,701


Capital and reserves
  

Called up share capital 
 10 
202
202

Investment property reserve
 11 
180,113
193,176

Profit and loss account
 11 
991,923
925,323

  
1,172,238
1,118,701


Page 1

 
ELMS CARAVAN COMPANY LIMITED
REGISTERED NUMBER: 01140657
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 comprehensive income 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 on 20 November 2023.




Dr C Zabell
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Elms Caravan Company Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Ludgate House, Hornbeam Lane, Bury Road, Sewardstonebury, London, E4 7QT. The principal place of business is the same as the registered office. The principal activity of the company was that of mobile home park operators. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.



The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 3

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.5

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:

Site improvements
-
15 years straight line
Plant and machinery
-
20%
Fixtures and fittings
-
20%

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.

Page 4

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. 
 

 
2.7

Debtors

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

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

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

 
2.12

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.

Page 5

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Tangible fixed assets





Site Improvements
Plant and Machinery
Fixtures and Fittings
Total

£
£
£
£



Cost


At 1 February 2022
814,608
151,284
53,657
1,019,549


Additions
-
2,661
670
3,331



At 31 January 2023

814,608
153,945
54,327
1,022,880



Depreciation


At 1 February 2022
108,614
140,917
48,312
297,843


Charge for the year on owned assets
54,307
2,605
1,203
58,115



At 31 January 2023

162,921
143,522
49,515
355,958



Net book value



At 31 January 2023
651,687
10,423
4,812
666,922



At 31 January 2022
705,994
10,367
5,345
721,706

Page 6

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
844,889


Additions at cost
2,650



At 31 January 2023
847,539

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
612,997
610,347


6.


Debtors

2023
2022
£
£


Other debtors
480
419

Prepayments and accrued income
20,253
15,985

20,733
16,404



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
109,069
40,518


Page 7

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,731
-

Corporation tax
29,369
21,085

Other creditors
364,213
425,167

Accruals and deferred income
18,283
17,198

417,596
463,450



9.


Deferred taxation




2023
2022


£

£






At beginning of year
(41,366)
(38,041)


Charged to profit or loss
(13,063)
(3,325)



At end of year
(54,429)
(41,366)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Investment property revaluation
(54,429)
(41,366)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 -2) Ordinary shares of £1.00 each
2
2
100 (2022 -100) Ordinary 'A' shares of £1.00 each
100
100
100 (2022 -100) Ordinary 'B' shares of £1.00 each
100
100

202

202


Ordinary 'A' and Ordinary 'B' shares are non voting and non participating in the event of a winding up.


Page 8

 
ELMS CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Reserves

Investment property revaluation reserve

Investment property reserve relating to the unrealised gain or loss on fair value adjustment of investment properties. Deferred tax has been provided on the revaluation of investment properties.

Profit and loss account

Includes all current and prior period retained profits and losses.


12.


Related party transactions

The company paid rents amounting to £14,500 (2022 - £12,000) to its directors. 

 
Page 9