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REGISTERED NUMBER: 13298161 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ELM FARM PROPERTY MANAGEMENT LTD

ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ELM FARM PROPERTY MANAGEMENT LTD

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: T D Atkin
Mrs J A Atkin



REGISTERED OFFICE: Elm Farmhouse
The Lane
Frankton
Nr Rugby
Warwickshire
CV23 9PJ



REGISTERED NUMBER: 13298161 (England and Wales)



BANKERS: Barclays Bank Plc
48-50 The Parade
Leamington Spa
Warwickshire
CV32 4DD

ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,048 2,095
Investment property 5 1,556,530 1,556,530
1,557,578 1,558,625

CURRENT ASSETS
Debtors 1,680 13,515
Cash at bank 155 2,138
1,835 15,653
CREDITORS
Amounts falling due within one year 734,598 746,554
NET CURRENT LIABILITIES (732,763 ) (730,901 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

824,815

827,724

CREDITORS
Amounts falling due after more than one
year

6

853,151

853,151
NET LIABILITIES (28,336 ) (25,427 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (28,436 ) (25,527 )
SHAREHOLDERS' FUNDS (28,336 ) (25,427 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)

ABRIDGED BALANCE SHEET - continued
29 February 2024


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 Balance Sheet for the year ended 29 February 2024 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 Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:




T D Atkin - Director



Mrs J A Atkin - Director


ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Elm Farm Property Management Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

At the balance sheet date the company had net current liabilities of £732,763 (2023 - £730,901) and total net liabilities of £28,336 (2023 - £25,427). The directors have expressed their willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on cost

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 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.

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 (2023 - NIL).

ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 4,191
DEPRECIATION
At 1 March 2023 2,096
Charge for year 1,047
At 29 February 2024 3,143
NET BOOK VALUE
At 29 February 2024 1,048
At 28 February 2023 2,095

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 1,556,530
NET BOOK VALUE
At 29 February 2024 1,556,530
At 28 February 2023 1,556,530

The directors do not believe there has been any material change to the fair value as at 29 February 2024.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans - more than 5 years 853,151 853,151

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 853,151 853,151

The loans are secured by personal guarantees given by the directors.

ELM FARM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 13298161)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
T D Atkin
Balance outstanding at start of year 13,200 -
Amounts advanced 15,500 13,200
Amounts repaid (28,700 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 13,200