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REGISTERED NUMBER: 09630489 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Element Estates Limited

Element Estates Limited (Registered number: 09630489)

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










Page

Chartered accountants' report 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 6


Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Element Estates 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 Statement of financial position. Readers are cautioned that the 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 Element Estates Limited for the year ended 31 July 2023 which comprise the Income statement, Statement of financial position 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 Element Estates Limited in accordance with the terms of our engagement letter dated 7 March 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Element Estates Limited and state those matters that we have agreed to state to the director of Element Estates 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 Element Estates Limited and its director for our work or for this report.

It is your duty to ensure that Element Estates 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 Element Estates Limited. You consider that Element Estates 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 Element Estates 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.






Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambridgeshire
PE6 8EA


21 October 2024

Element Estates Limited (Registered number: 09630489)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 171,610 260,165

Current assets
Stocks 6 156,507 309,415
Debtors 7 120,198 618,106
Cash at bank 33,078 80,656
309,783 1,008,177
Creditors
Amounts falling due within one year 8 567,709 863,506
Net current (liabilities)/assets (257,926 ) 144,671
Total assets less current liabilities (86,316 ) 404,836

Creditors
Amounts falling due after more than one
year

9

(205,400

)

(281,582

)

Provisions for liabilities - (38,978 )

Accruals and deferred income (5,095 ) (4,625 )
Net (liabilities)/assets (296,811 ) 79,651

Capital and reserves
Called up share capital 2 2
Retained earnings (296,813 ) 79,649
(296,811 ) 79,651

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

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

Element Estates Limited (Registered number: 09630489)

Statement of Financial Position - continued
31 July 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:





A Sewell - Director


Element Estates Limited (Registered number: 09630489)

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


1. Statutory information

Element Estates Limited 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: 09630489

Registered office: 27 Market Place
Market Deeping
Peterborough
Cambs
PE6 8EA

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Plant and machinery - 20% on a straight line basis
Fixtures and fittings - 20% on a straight line basis
Motor vehicles - 20% on a straight line basis

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 statement of financial position date.


Element Estates Limited (Registered number: 09630489)

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


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
These accounts have been prepared under the going concern basis on the understanding that the directors and shareholders continue to financially support the company.

4. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 August 2022
and 31 July 2023 4,412 311,152 6,200 169,637 491,401
Depreciation
At 1 August 2022 - 104,062 5,789 121,385 231,236
Charge for year - 62,230 411 25,914 88,555
At 31 July 2023 - 166,292 6,200 147,299 319,791
Net book value
At 31 July 2023 4,412 144,860 - 22,338 171,610
At 31 July 2022 4,412 207,090 411 48,252 260,165

6. Stocks
2023 2022
£    £   
Work-in-progress 156,507 309,415

Element Estates Limited (Registered number: 09630489)

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


7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 31,071 610,119
Amounts owed by group undertakings 28,148 7,987
Other debtors 60,979 -
120,198 618,106

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 45,466 50,449
Trade creditors 156,117 379,822
Taxation and social security 263,831 307,525
Other creditors 102,295 125,710
567,709 863,506

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 92,642 136,059
Other creditors 112,758 145,523
205,400 281,582

10. Related party disclosures

As at the balance sheet date £28,804 (2022: £7,987) remains due from Element Joinery Limited and £375 (2022: £nil) is due from Element Estates Construction Limited.