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REGISTERED NUMBER: 03900658 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Elmsvyne Limited

Elmsvyne Limited (Registered number: 03900658)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Elmsvyne Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G C Bridgewater





SECRETARY: Mrs P A Bridgewater





REGISTERED OFFICE: 1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL





REGISTERED NUMBER: 03900658 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Elmsvyne Limited (Registered number: 03900658)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 509,289 516,543

CURRENT ASSETS
Stocks 1,556,990 1,274,357
Debtors 519,226 612,758
Cash at bank 2,921 92,224
2,079,137 1,979,339
CREDITORS
Amounts falling due within one year 3,689,555 3,367,215
NET CURRENT LIABILITIES (1,610,418 ) (1,387,876 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,101,129

)

(871,333

)

CREDITORS
Amounts falling due after more than one year 15,000 25,000
NET LIABILITIES (1,116,129 ) (896,333 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,116,229 ) (896,433 )
SHAREHOLDERS' FUNDS (1,116,129 ) (896,333 )

Elmsvyne Limited (Registered number: 03900658)

Abridged Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 August 2024 and were signed by:





G C Bridgewater - Director


Elmsvyne Limited (Registered number: 03900658)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Elmsvyne 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.

The company is insolvent and the director has been advised to seek specialist professional advice on this matter.

The director has pledged his continuing support to the company and has agreed not to withdraw his directors loan account of £867,319, however there is a shortfall in available funds amounting to £248,810.

The company meets it day to day working capital requirements through overdraft and loan facilities.

Turnover
Turnover represents net sales of properties excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


Elmsvyne Limited (Registered number: 03900658)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 629,091
DEPRECIATION
At 1 January 2023 112,548
Charge for year 7,254
At 31 December 2023 119,802
NET BOOK VALUE
At 31 December 2023 509,289
At 31 December 2022 516,543

Elmsvyne Limited (Registered number: 03900658)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,378,318 1,157,573

Legal charges are as follows:

Together Commercial Finance Limited: A fixed charge was created on 10th September 2018 on land at the back of 26 Worcester Road and 24 Worcester Road, Bromsgrove, B61 7AE together with a floating charge covering all the property or undertaking of the company.

Together Commercial Finance Limited: A Debenture was created on 10th September 2018 on Freehold land at 24-26 Worcester Road, Bromsgrove together with a floating charge covering all the property or undertaking of the company.

Building Finance Limited: A fixed charge was created on 1st July 2020 on all freehold property known as The Gables, Worcester Road, Great Witley, WR6 6HP.

Building Finance Limited: A Debenture was created on 1st July 2020 containing a fixed and floating charge covering all the property or undertaking of the company.

Together Commercial Finance Limited: A fixed charge was created on 18th June 2021 on all freehold property at The Gables, Worcester Road, Great Witley,WR6 6HP.

Together Commercial Finance Limited: A Debenture was created on 18th June 2021 on property known as The Gables, Worcester Road, Great Witley, WR6 6HP containing a fixed and floating charge covering all the property or undertaking of the company.

Together Commercial Finance Limited: A fixed charge was created on 2nd February 2022 on all freehold land and property at The Gables, Worcester Road, Great Witley,WR6 6HP, 24-26 Worcester Road, Bromsgrove, B61 7AE and Blue Shot Bungalow, Pound Lane, Clifton-On-Teme, Worcester, WR6 6DE.

Together Commercial Finance Limited: A fixed charge was created on 2nd February 2022 on all property or undertakings of the company, Elmsvyne Limited.

6. CONTINGENT LIABILITIES

There were no material contingent liabilities at the year end.


7. POST BALANCE SHEET EVENTS

There are no material post balance sheet events.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Elmsvyne Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elmsvyne Limited for the year ended 31 December 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Elmsvyne Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elmsvyne Limited and state those matters that we have agreed to state to the director of Elmsvyne Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elmsvyne Limited and its director for our work or for this report.

It is your duty to ensure that Elmsvyne Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elmsvyne Limited. You consider that Elmsvyne Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elmsvyne Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


12 August 2024