Company registration number 05616209 (England and Wales)
ELPHINSTONE BRABANT LIMITED
Unaudited Financial Statements
For The Year Ended 30 March 2023
Pages For Filing With Registrar
Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Accountants' Report To The Director On The Preparation Of The Unaudited Statutory Financial Statements Of Elphinstone Brabant Limited For The Year Ended 30 March 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elphinstone Brabant Limited for the year ended 30 March 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Elphinstone Brabant Limited, as a body, in accordance with the terms of our engagement letter dated 15 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Elphinstone Brabant Limited and state those matters that we have agreed to state to the board of directors of Elphinstone Brabant Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elphinstone Brabant Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Elphinstone Brabant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elphinstone Brabant Limited. You consider that Elphinstone Brabant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elphinstone Brabant Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chavereys Limited
22 December 2023
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Balance Sheet
As At 30 March 2023
30 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,157
6,955
Investments
4
100,000
100,000
103,157
106,955
Current assets
Debtors
1,857
1,135
Investments
5
2,013,449
1,770,615
Cash at bank and in hand
1,673
2,021
2,016,979
1,773,771
Creditors: amounts falling due within one year
6
(519,844)
(476,415)
Net current assets
1,497,135
1,297,356
Net assets
1,600,292
1,404,311
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
1,500,292
1,304,311
Total equity
1,600,292
1,404,311

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

The financial statements were approved and signed by the director and authorised for issue on 22 December 2023
N E Holmes
Director
Company Registration No. 05616209
Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Notes To The Financial Statements
For The Year Ended 30 March 2023
- 3 -
1
Accounting policies
Company information

Elphinstone Brabant Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Penstock Hall, East Brabourne, Ashford, Kent, England, TN25 5LL.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 March 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

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

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 31 March 2022 and 30 March 2023
41,312
Depreciation and impairment
At 31 March 2022
34,357
Depreciation charged in the year
3,798
At 30 March 2023
38,155
Carrying amount
At 30 March 2023
3,157
At 30 March 2022
6,955
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
100,000
100,000
Elphinstone Brabant Limited
ELPHINSTONE BRABANT LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 March 2023
- 5 -
5
Current asset investments
2023
2022
£
£
Shares in group undertakings
2,013,449
1,770,615
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
43,465
36
Other creditors
474,877
474,877
Accruals and deferred income
1,502
1,502
519,844
476,415
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2023
2022
Balances:
£
£
Accelerated capital allowances
(600)
(1,322)
Tax losses
2,457
2,457
1,857
1,135
2023
Movements in the year:
£
Asset at 31 March 2022
(1,135)
Credit to profit or loss
(722)
Asset at 30 March 2023
(1,857)

The deferred tax asset set out above is expected to reverse within [12 months] and relates to the utilisation of tax losses against future expected profits of the same period.

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