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REGISTERED NUMBER: 11073000 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ELMSDOWN HOUSE LTD

ELMSDOWN HOUSE LTD (REGISTERED NUMBER: 11073000)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


ELMSDOWN HOUSE LTD (REGISTERED NUMBER: 11073000)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 295,362 295,362

CURRENT ASSETS
Debtors 5 1,932,454 1,936,794
Cash at bank and in hand 2,935 2,330
1,935,389 1,939,124
CREDITORS
Amounts falling due within one year 6 1,827,092 1,819,933
NET CURRENT ASSETS 108,297 119,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,659

414,553

CREDITORS
Amounts falling due after more than one
year

7

203,856

210,513
NET ASSETS 199,803 204,040

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 199,703 203,940
199,803 204,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr S T Savage - Director


ELMSDOWN HOUSE LTD (REGISTERED NUMBER: 11073000)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Elmsdown House Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11073000

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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
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 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.


There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rent receivable during the year in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


ELMSDOWN HOUSE LTD (REGISTERED NUMBER: 11073000)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 295,362
NET BOOK VALUE
At 30 November 2023 295,362
At 30 November 2022 295,362

Investment property has been recorded at the following historical cost:

2023 2022
£ £
Cost 295,362 295,362

The director considers the market value of the investment property at the year end to be as stated in the accounts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,558,692 1,521,891
Other debtors 373,762 414,903
1,932,454 1,936,794

ELMSDOWN HOUSE LTD (REGISTERED NUMBER: 11073000)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,656 2,773
Trade creditors 6,579 3,660
Amounts owed to group undertakings 1,811,659 1,811,209
Other creditors 2,198 2,291
1,827,092 1,819,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 203,856 210,513

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 162,660 162,660

Repayable by instalments
Bank loans more 5 yr by instal 14,571 21,228

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 162,600 162,660

Bank loan is secured by way of fixed and floating charge on the investment properties of the company and contains a negative pledge.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors less than one year is an amount of £268,578 (2022: £189,567) due from connected companies with the common directorship and shareholdings.The loans remain interest free and repayable on demand.