REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 September 2024 |
for |
Elmvine Properties Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 September 2024 |
for |
Elmvine Properties Limited |
Elmvine Properties Limited (Registered number: 03380451) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Elmvine Properties Limited |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
Elmvine Properties Limited (Registered number: 03380451) |
Statement of Financial Position |
30 September 2024 |
30/9/24 | 30/9/23 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 8 |
Capital redemption reserve | 8 |
Fair value reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
Elmvine Properties Limited (Registered number: 03380451) |
Statement of Financial Position - continued |
30 September 2024 |
The financial statements were approved by the director and authorised for issue on |
Elmvine Properties Limited (Registered number: 03380451) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Elmvine Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for its investment property as specified in the accounting policies below. |
Turnover and rent receivable |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rental income from investment properties leased out under operating leases is recognised in the profit and loss account on an accruals basis over the term of the lease. The effect of rent reviews is only recognised when such reviews have been agreed with the tenants. |
Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value whilst a reliable measure of fair value is available without undue cost or effort. Changes in fair value are 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 statement of financial position date. |
For investment properties measured at fair value deferred tax is measured using the tax rates and allowances that will apply on the eventual sale of the property. |
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. |
Elmvine Properties Limited (Registered number: 03380451) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 October 2023 |
and 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
The investment property was valued an fair value basis at the year end date by the company's director. If there had been no fair value adjustment to the investment property, it would have been shown at its original cost price of £435,398. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/24 | 30/9/23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/24 | 30/9/23 |
£ | £ |
Taxation and social security |
Other creditors |
Elmvine Properties Limited (Registered number: 03380451) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
8. | RESERVES |
Capital | Fair |
Retained | Share | redemption | value |
earnings | premium | reserve | reserve | Totals |
£ | £ | £ | £ | £ |
At 1 October 2023 | 889,746 |
Profit for the year |
At 30 September 2024 | 926,992 |
Reserves of the company represent the following: |
Retained earnings: |
Cumulative profit and loss net of distributions to owners. |
Fair value reserve: |
Cumulative net revaluation gains on the company's investment property. |
Share premium: |
Cumulative additional amounts paid by shareholders paid for their issued shares in excess of the par value of those shares |
Capital redemption reserve: |
A statutory, non-distributable reserve transferred following the purchase of shares by the company. |