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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
Page
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Elwood Developments Limited Company Information for the year ended 29 February 2024
Directors
Sean Michael Elwood Tina Elwood
Secretary
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
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Elwood Developments Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,407 
7,209 
Current assets
Inventories
108,008 
5,000 
Debtors
2,700 
15,524 
Cash at bank and in hand
271,032 
406,917 
381,740 
427,441 
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 
Capital and reserves
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
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Elwood Developments Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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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 
Depreciation
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 
Net book value
At 29 February 2024
4,506 
901 
5,407 
At 28 February 2023
6,008 
1,201 
7,209 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
108,008 
5,000 
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.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,033 
6,593 
Accrued income and prepayments
1,667 
7,236 
Other debtors
- 
1,695 
2,700 
15,524 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,932 
10,932 
Trade creditors
- 
27,391 
Taxes and social security
14,126 
14,954 
Loans from directors
9,873 
10,369 
Accruals
3,500 
3,562 
Deferred income
5,000 
- 
43,431 
67,208 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,235 
34,167 
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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).
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