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REGISTERED NUMBER: 00786786 (England and Wales)











THE ELMS RESIDENTS COMPANY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2023






THE ELMS RESIDENTS COMPANY LIMITED (REGISTERED NUMBER: 00786786)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


THE ELMS RESIDENTS COMPANY LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: G Roe
A R Whitehouse
K E Martin
K Holdsworth
K E E A Schaper
A J Madden





SECRETARY: P A Cheatle





REGISTERED OFFICE: Lygon House
50 London Road
Bromley
Kent
BR1 3RA





REGISTERED NUMBER: 00786786 (England and Wales)





AUDITORS: Berringers LLP
Chartered Accountants
and Statutory Auditors
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

THE ELMS RESIDENTS COMPANY LIMITED (REGISTERED NUMBER: 00786786)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1

CURRENT ASSETS
Debtors 5 18,770 2,720
Cash at bank and in hand 27,501 28,523
46,271 31,243
CREDITORS
Amounts falling due within one year 6 23,975 9,439
NET CURRENT ASSETS 22,296 21,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,297

21,805

CAPITAL AND RESERVES
Called up share capital 350 350
Other reserves 45 45
Retained earnings 21,902 21,410
SHAREHOLDERS' FUNDS 22,297 21,805

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





K E Martin - Director


THE ELMS RESIDENTS COMPANY LIMITED (REGISTERED NUMBER: 00786786)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023

1. STATUTORY INFORMATION

The Elms Residents Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period.

Going concern
It is the directors' opinion that the company is a going concern for the foreseeable future.

Turnover
Turnover represents resident's contributions towards the expenses incurred in the year.


Tangible fixed assets
Plant and machinery has been written down to its true carrying value and no further depreciation is to be charged.

Taxation
The company is a mutual trading company, so it is only liable for tax on interest received. This is below the de-minimus level.

Debtors
Short term debtors are measures 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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts, when applicable are shown within borrowings in current liabilities.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

THE ELMS RESIDENTS COMPANY LIMITED (REGISTERED NUMBER: 00786786)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 30 September 2023 350
DEPRECIATION
At 1 October 2022
and 30 September 2023 349
NET BOOK VALUE
At 30 September 2023 1
At 30 September 2022 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 18,770 2,720

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,862 2,104
Other creditors 20,113 7,335
23,975 9,439

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Paul Allan BSocSc FCA (Senior Statutory Auditor)
for and on behalf of Berringers LLP

8. RELATED PARTY DISCLOSURES

The secretary, treasurer, chairperson and gardening director do not pay the service charge of £600 (£504 - 2022) each, due to the work carried out on behalf of and for the mutual benefit of all the shareholders.

The total secretary's, treasurer's, chairperson's and gardening director's service charge cost of £3,000 (£2,016 - 2022) in expenditure is not an actual cost to the company and no cash is paid directly to the directors.

9. CASH BALANCE

The cash balance representing service charge monies received by a residential management company in accordance with the terms of The Scheme are held in a statutory trust under Section 42 of the Landlord and Tenant Act 1987. It is not an asset of the company, however, until the overall correct accounting treatment of residential management companies has been finalised via FRED 50, draft FRC Abstract 1, it remains in the balance sheet.