Company Registration No. 04522881 (England and Wales)
Elwood Developments Limited
Unaudited accounts
for the year ended 29 February 2024
Elwood Developments Limited
Unaudited accounts
Contents
Elwood Developments Limited
Company Information
for the year ended 29 February 2024
Directors
Sean Michael Elwood
Tina Elwood
Company Number
04522881 (England and Wales)
Registered Office
49 Cypress Point
Links Road
Poole
BH14 9QS
England
Accountants
Infinity Financial Solutions Limited
29-31 High Street
Fordingbridge
SP6 1AS
Elwood Developments Limited
Statement of financial position
as at 29 February 2024
Tangible assets
5,407
7,209
Cash at bank and in hand
271,032
406,917
Creditors: amounts falling due within one year
(43,431)
(67,208)
Net current assets
338,309
360,233
Total assets less current liabilities
343,716
367,442
Creditors: amounts falling due after more than one year
(23,235)
(34,167)
Net assets
320,481
333,275
Called up share capital
2
2
Profit and loss account
320,479
333,273
Shareholders' funds
320,481
333,275
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by
Tina Elwood
Director
Company Registration No. 04522881
Elwood Developments Limited
Notes to the Accounts
for the year ended 29 February 2024
Elwood Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 04522881. The registered office is 49 Cypress Point, Links Road, Poole, BH14 9QS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Computer equipment
25% Reducing Balance
Elwood Developments Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
18,990
9,745
28,735
At 29 February 2024
18,990
9,745
28,735
At 1 March 2023
12,982
8,544
21,526
Charge for the year
1,502
300
1,802
At 29 February 2024
14,484
8,844
23,328
At 29 February 2024
4,506
901
5,407
At 28 February 2023
6,008
1,201
7,209
Work in progress
108,008
5,000
Inventories has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Amounts falling due within one year
Accrued income and prepayments
1,667
7,236
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,932
10,932
Taxes and social security
14,126
14,954
Loans from directors
9,873
10,369
8
Creditors: amounts falling due after more than one year
2024
2023
Elwood Developments Limited
Notes to the Accounts
for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).