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Registration number: 13290590

Elmsley Homes (Development Services) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Elmsley Homes (Development Services) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Elmsley Homes (Development Services) Limited

Company Information

Directors

Mr Lee Taylor

Mrs Nadia Taylor

Registered office

The Hewletts
Aggs Hill
Cheltenham
GL54 4ET

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Elmsley Homes (Development Services) Limited

(Registration number: 13290590)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

260,644

221,241

Cash at bank and in hand

 

873

28,303

 

261,517

249,544

Creditors: Amounts falling due within one year

5

(274,942)

(256,902)

Net liabilities

 

(13,425)

(7,358)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(13,525)

(7,458)

Shareholders' deficit

 

(13,425)

(7,358)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
Mr Lee Taylor
Director

 

Elmsley Homes (Development Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Hewletts
Aggs Hill
Cheltenham
GL54 4ET
England

These financial statements were authorised for issue by the Board on 30 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Elmsley Homes (Development Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Elmsley Homes (Development Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 4).

4

Debtors

Current

2023
£

2022
£

Amounts owed by related parties

100

100

Prepayments and accrued income

260,544

206,003

Other debtors

-

15,138

260,644

221,241

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

12,350

39,534

Taxation and social security

3,220

1,460

Accruals and deferred income

1,500

1,500

Other creditors

257,872

214,408

274,942

256,902

 

Elmsley Homes (Development Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Other payments made to company by director
£

At 31 October 2023
£

Mr Lee Taylor

Amounts owed to director

213,245

44,629

257,873

       
     

 

2022

At 1 November 2021
£

Other payments made to company by director
£

At 31 October 2022
£

Mr Lee Taylor

Amounts owed to director

-

213,245

213,245

       
     

 

8

Parent and ultimate parent undertaking

The ultimate parent is Elmsley Homes (Holdings) Limited, incorporated in England and Wales.

 The ultimate controlling party is Lee and Nadia Taylor.