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Company No: 08282931 (England and Wales)

ELM DEVELOPMENTS HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

ELM DEVELOPMENTS HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

ELM DEVELOPMENTS HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
ELM DEVELOPMENTS HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Mrs I Rosser
Mrs K Rosser
REGISTERED OFFICE Hawthorn House Emperor Way
Exeter Business Park
Exeter
EX1 3QS
United Kingdom
COMPANY NUMBER 08282931 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
ELM DEVELOPMENTS HOLDINGS LIMITED

BALANCE SHEET

As at 31 January 2024
ELM DEVELOPMENTS HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 6,074,116 6,074,116
6,074,116 6,074,116
Current assets
Cash at bank and in hand 9,096 10,203
9,096 10,203
Creditors: amounts falling due within one year 4 ( 3,475,614) ( 3,586,397)
Net current liabilities (3,466,518) (3,576,194)
Total assets less current liabilities 2,607,598 2,497,922
Net assets 2,607,598 2,497,922
Capital and reserves
Called-up share capital 5 15,714 15,714
Capital redemption reserve 1,229,932 1,118,120
Profit and loss account 1,361,952 1,364,088
Total shareholders' funds 2,607,598 2,497,922

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Elm Developments Holdings Limited (registered number: 08282931) were approved and authorised for issue by the Board of Directors on 03 April 2024. They were signed on its behalf by:

Mrs K Rosser
Director
ELM DEVELOPMENTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
ELM DEVELOPMENTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elm Developments Holdings Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The principal and registered address of the Company is:

Hawthorn House
Emperor Way
Exeter
United Kingdom

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Interest income

Interest income is recognised over time based on the amount outstanding and the effective interest rate.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 6,074,116
At 31 January 2024 6,074,116
Carrying value at 31 January 2024 6,074,116
Carrying value at 31 January 2023 6,074,116

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 231,864 230,864
Accruals 1,200 1,171
Other creditors 3,242,550 3,354,362
3,475,614 3,586,397

Other Creditors includes £3,242,550 (2023: £3,354,362) in relation to redeemable £1 Preference Shares.

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
15,714 Ordinary shares of £ 1.00 each 15,714 15,714
3,242,550 Preference cumulative redeemable shares of £ 1.00 each (2023: 3,354,362 shares of £ 1.00 each) 3,242,550 3,354,362
3,258,264 3,370,076

During the year, 111,812 (2023 - 111,812 ) preference shares were redeemed at par.

6. Loans and borrowings

Current loans and borrowings

2024 2023
£ £
Redeemable preference shares 3,242,550 3,354,362

Borrowings

Included in the total amount of preference shares at the year end is £3,242,550 (2023 - £3,354,362).

The preference shares are redeemable at anytime at par by the company by giving a minimum of 20 days and a maximum of 60 days' notice in writing or by the preference shareholders by serving the company a shareholder redemption notice. Any redemption of preference shares is subject to a minimum redemption of £100,000 per annum.

In the event of a winding up, the preference shareholders are entitled to the repayment of the amounts paid on their shares and payment of any arrears of preference dividend.

The preference shares will be redeemable in full in the event of a change of control.

The preference shares carry a coupon rate of 2%.