Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30false2022-05-01truetrueNo description of principal activity00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11176168 2022-05-01 2023-04-30 11176168 2021-05-01 2022-04-30 11176168 2023-04-30 11176168 2022-04-30 11176168 c:Director1 2022-05-01 2023-04-30 11176168 c:Director1 2023-04-30 11176168 c:Director2 2022-05-01 2023-04-30 11176168 c:Director2 2023-04-30 11176168 c:Director3 2022-05-01 2023-04-30 11176168 c:Director3 2023-04-30 11176168 c:RegisteredOffice 2022-05-01 2023-04-30 11176168 d:CurrentFinancialInstruments 2023-04-30 11176168 d:CurrentFinancialInstruments 2022-04-30 11176168 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11176168 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 11176168 d:ShareCapital 2023-04-30 11176168 d:ShareCapital 2022-04-30 11176168 d:RetainedEarningsAccumulatedLosses 2023-04-30 11176168 d:RetainedEarningsAccumulatedLosses 2022-04-30 11176168 c:FRS102 2022-05-01 2023-04-30 11176168 c:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11176168 c:FullAccounts 2022-05-01 2023-04-30 11176168 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11176168 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 11176168









MICHAEL ELLIS DEVELOPMENTS LTD







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
MICHAEL ELLIS DEVELOPMENTS LTD
 
 
COMPANY INFORMATION


Directors
J E Ellis (resigned 8 January 2024)
S E Lindup (appointed 26 March 2024)
Dr J Duffey (appointed 26 March 2024)




Registered number
11176168



Registered office
The Manor House
Thorpe

Ashbourne

England

DE6 2AW




Accountants
Grant Thornton UK LLP
Chartered Accountants

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU





 
MICHAEL ELLIS DEVELOPMENTS LTD
 

CONTENTS



Page
Accountant's report
 
1
Statement of financial position
 
2 - 3
Notes to the financial statements
 
4 - 6


  
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Report to the directors on the preparation of the unaudited statutory financial statements of Michael Ellis Developments Ltd for the year ended 30 April 2023 

We have compiled the accompanying financial statements of Michael Ellis Developments Ltd (the ‘Company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of Michael Ellis Developments Ltd as at 30 April 2023, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors in accordance with the terms of our engagement letter dated 19 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of the Company and state those matters that we have agreed to state to the Company's directors in this report in accordance with our engagement letter dated 19 March 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its directors for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Milton Keynes

17 April 2024
Page 1

 
MICHAEL ELLIS DEVELOPMENTS LTD
REGISTERED NUMBER: 11176168

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
111,000
111,000

Debtors: amounts falling due within one year
 6 
-
3,258

Cash at bank and in hand
  
1,828
2,869

  
112,828
117,127

Creditors: amounts falling due within one year
 7 
(357,644)
(363,628)

Net current liabilities
  
 
 
(244,816)
 
 
(246,501)

Total assets less current liabilities
  
(244,816)
(246,501)

  


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(244,818)
(246,503)

  
(244,816)
(246,501)


Page 2

 
MICHAEL ELLIS DEVELOPMENTS LTD
REGISTERED NUMBER: 11176168
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






S E Lindup
Dr J Duffey
Director
Director


Date: 17 April 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
MICHAEL ELLIS DEVELOPMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The company is a private company, limited by shares, and is registered in England and Wales.
Registered Number: 11176168.
Registered Office: 
The Manor House
Thorpe
Ashbourne
England
DE6 2AW

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied: 

 
2.2

Going concern

Michael Ellis Developments Limited intends to cease trading once the remaining property has been sold. Therefore, the financial statements have been prepared on a basis other than that of a going concern as the Company is not expected to continue in existence for at least 12 months from the date of approval of the financial statements. This basis includes writing down the Company's assets to net realisable value where applicable. There has been no changes to the value of the Company's assets as a result of preparing the financial statements on this basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase plus legal and renovation costs. Stock of property includes labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured 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.

Page 4

 
MICHAEL ELLIS DEVELOPMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

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.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees during the year was 0 (2022: 0).


4.


Fixed asset investments

Michael Ellis Developments Ltd is a legal member of Oakhampton (Hilton) Management Company Limited.

Page 5

 
MICHAEL ELLIS DEVELOPMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Stocks

2023
2022
£
£

Property held for re-sale
111,000
111,000



6.


Debtors

2023
2022
£
£


Other debtors
-
3,258



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
200
200

Other creditors
353,644
358,353

Accruals and deferred income
3,800
5,075

357,644
363,628



8.


Post balance sheet events

After the year-end, the Company sold the remaining property held in stock.


9.


Related party transactions

Mrs Ellis is a director. Included within other creditors is £nil (2021: £382,998), which is owed to Mrs Ellis
via her directors loan account. This balance was interest free and repayable upon demand.
During the year the balance owed to Mrs Ellis was transferred to the shareholdes: J Duffey and S Lindup.
Included within other creditors is £231,616 and £126,737 which was owed to J Duffey and S Lindup
respectively via their shareholder loan accounts (2021: £nil and £nil respectively). The balances are
interest free and repayable on demand.

 
Page 6