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REGISTERED NUMBER: 12311611 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

ELMS HOMES LIMITED

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELMS HOMES LIMITED

COMPANY INFORMATION
for the Year Ended 31st August 2023







DIRECTOR: E J G Shoreman-Lawson





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 12311611 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

BALANCE SHEET
31st August 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,000 -
Investment property 5 946,636 835,000
956,636 835,000

CURRENT ASSETS
Debtors 6 4,327 53,282
Cash at bank 2,829 1,807
7,156 55,089
CREDITORS
Amounts falling due within one year 7 301,006 234,814
NET CURRENT LIABILITIES (293,850 ) (179,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

662,786

655,275

CREDITORS
Amounts falling due after more than one year 8 (568,345 ) (480,220 )

PROVISIONS FOR LIABILITIES 9 (30,603 ) (32,393 )
NET ASSETS 63,838 142,662

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 63,738 142,562
SHAREHOLDERS' FUNDS 63,838 142,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

BALANCE SHEET - continued
31st August 2023


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 director and authorised for issue on 29th August 2024 and were signed by:





E J G Shoreman-Lawson - Director


ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023

1. STATUTORY INFORMATION

Elms Homes 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - None as not yet in use

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable 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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 10,000
At 31st August 2023 10,000
NET BOOK VALUE
At 31st August 2023 10,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2022 835,000
Additions 122,636
Revaluations (11,000 )
At 31st August 2023 946,636
NET BOOK VALUE
At 31st August 2023 946,636
At 31st August 2022 835,000

Fair value at 31st August 2023 is represented by:
£   
Valuation in 2021 74,069
Valuation in 2022 96,419
Valuation in 2023 (10,999 )
Cost 787,147
946,636

If investment property had not been revalued it would have been included at the following historical cost:

31/8/23 31/8/22
£    £   
Cost 787,147 664,511

Investment property was valued on an open market basis on 31st August 2023 by the directors .

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Other debtors 200 50,144
Prepayments 4,127 3,138
4,327 53,282

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Tax - 1,094
Other creditors 2,691 190
Directors' current accounts 297,259 232,116
Accrued expenses 1,056 1,414
301,006 234,814

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/8/23 31/8/22
£    £   
Bank loans more 5 yrs non-inst 568,345 480,220

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 568,345 480,220

9. PROVISIONS FOR LIABILITIES
31/8/23 31/8/22
£    £   
Deferred tax 30,603 32,393

Deferred
tax
£   
Balance at 1st September 2022 32,393
Credit to Statement of Income and Retained Earnings during year (1,790 )
Balance at 31st August 2023 30,603

ELMS HOMES LIMITED (REGISTERED NUMBER: 12311611)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/23 31/8/22
value: £    £   
100 Ordinary £1 100 100