Company registration number 03282040 (England and Wales)
ELLAM HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ELLAM HOMES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
The following pages do not form part of the statutory financial statements
ELLAM HOMES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,203
26,937
Investment property
5
335,076
335,076
Investments
6
4,447
10,677
359,726
372,690
Current assets
Stocks
460,519
460,519
Debtors
7
2,714
2,629
Cash at bank and in hand
22,755
73,575
485,988
536,723
Creditors: amounts falling due within one year
8
(207,970)
(254,729)
Net current assets
278,018
281,994
Total assets less current liabilities
637,744
654,684
Creditors: amounts falling due after more than one year
9
(18,238)
Provisions for liabilities
(5,100)
(6,800)
Net assets
632,644
629,646
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
631,644
628,646
Total equity
632,644
629,646
The notes on pages 3 to 7 form part of these financial statements.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ELLAM HOMES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 August 2024
..............................................
Mr C A Ellam
Director
Company registration number 03282040 (England and Wales)
ELLAM HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Ellam Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Valley Mill, Park Road, Elland, Halifax, HX5 9GY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Any tangible fixed assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that assets as follows:
Plant and machinery
25% reducing balance
Equipment
25% reducing balance
Motor vehicle
25% reducing balance
In the year of acquisition tangible fixed assets are depreciated from 1 January.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is recognised at cost, which includes the purchase cost and any directly attributable expenditure.
FRS102 requires that investment property whose fair value can be measured reliably without undue cost or effort and on an on-going basis be measured at fair value in accordance with section 16 of FRS 102.
The director considers that to measure investment property held by the company at fair value on an on-going basis would involve undue cost. Investment properties are therefore continued to be stated at cost.
1.4
Fixed asset investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
ELLAM HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
1.6
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.8
Leases
Assets held under finance leases are hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ELLAM HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Employees
The average monthly number of persons (including director) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery
Equipment
Motor vehicle
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
60,658
8,491
39,883
109,032
Depreciation and impairment
At 1 January 2023
60,104
7,658
14,333
82,095
Depreciation charged in the year
139
208
6,387
6,734
At 31 December 2023
60,243
7,866
20,720
88,829
Carrying amount
At 31 December 2023
415
625
19,163
20,203
At 31 December 2022
554
833
25,550
26,937
5
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
335,076
The director considers that to measure investment property held by the company at fair value on an on-going basis would involve undue cost. Investment properties are therefore continued to be stated at cost.
6
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
4,347
10,577
4,447
10,677
ELLAM HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2023
100
10,577
10,677
Valuation changes
-
(6,230)
(6,230)
At 31 December 2023
100
4,347
4,447
Carrying amount
At 31 December 2023
100
4,347
4,447
At 31 December 2022
100
10,577
10,677
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,781
1,781
Prepayments and accrued income
933
848
2,714
2,629
8
Creditors: amounts falling due within one year
2023
2022
£
£
Obligations under finance leases
18,238
3,233
Amounts owed to group undertakings
100
100
Corporation tax
9,950
7,700
Other taxation and social security
128
Other creditors
175,324
239,466
Accruals and deferred income
4,230
4,230
207,970
254,729
9
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Obligations under finance leases
18,238
10
Secured liabilities
Aggregate amount of secured liabilities £18,238 (2022: £21,471).
ELLAM HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
11
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
5,100
6,800
2023
Movements in the year:
£
Liability at 1 January 2023
6,800
Credit to profit or loss
(1,700)
Liability at 31 December 2023
5,100
12
Related party transactions
Transactions with the director
Included in other creditors is a loan from the director in the amount of £175,324 (2022: £239,466). This loan is unsecured, repayable on demand and currently interest free.
The director has occupied property owned by the company during the year and rent of £9,000 (2022: £9,000) has been charged to him.
13
Parent company
The company is a subsidiary of Ellam Holdings Limited.
Ellam Holdings Limited is controlled by Mr C A Ellam.