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REGISTERED NUMBER: 02328867 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Elstream Developments Ltd

Elstream Developments Ltd (Registered number: 02328867)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Elstream Developments Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs A Torjussen
D Matthews
T M Torjussen
Ms A L Torjussen-Bate





REGISTERED OFFICE: Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP





REGISTERED NUMBER: 02328867 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

Elstream Developments Ltd (Registered number: 02328867)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 255 319
Investment property 5 2,305,524 2,300,000
2,305,779 2,300,319

CURRENT ASSETS
Debtors 6 4,020 12,546
Cash at bank 278,122 292,954
282,142 305,500
CREDITORS
Amounts falling due within one year 7 193,130 178,868
NET CURRENT ASSETS 89,012 126,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,394,791

2,426,951

PROVISIONS FOR LIABILITIES 293,571 293,571
NET ASSETS 2,101,220 2,133,380

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 1,433,418 1,433,418
Retained earnings 666,802 698,962
SHAREHOLDERS' FUNDS 2,101,220 2,133,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 Board of Directors and authorised for issue on 13 October 2024 and were signed on its behalf by:





Mrs A Torjussen - Director


Elstream Developments Ltd (Registered number: 02328867)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Elstream Developments 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income net of VAT. Income is recognised when due under the terms of leases.

Investment property
Investment property is not depreciated and shown at fair value less deferred tax. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current tax 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 fair value adjustments to the valuation of investment properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2023
and 31 March 2024 624
DEPRECIATION
At 1 April 2023 305
Charge for year 64
At 31 March 2024 369
NET BOOK VALUE
At 31 March 2024 255
At 31 March 2023 319

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,300,000
Additions 5,524
At 31 March 2024 2,305,524
NET BOOK VALUE
At 31 March 2024 2,305,524
At 31 March 2023 2,300,000

Elstream Developments Ltd (Registered number: 02328867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 980,988
Valuation in 2023 746,000
Cost 578,536
2,305,524

If investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 573,012 573,012

Investment property was valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,490 -
Other debtors 530 12,546
4,020 12,546

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,051 2,033
Amounts owed to group undertakings 161,548 144,567
Taxation and social security 11,905 15,176
Other creditors 18,626 17,092
193,130 178,868

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 1,433,418

9. RELATED PARTY DISCLOSURES

Bridges Trading Company Limited, a company controlled by the the directors, occupies rent-free one of the properties owned by this company.