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Registered number: 02616843
F. R. Elswood Limited
Unaudited ABRIDGED Financial Statements
For the Period 1 September 2022 to 28 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 02616843
28 February 2024 31 August 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,225 28,500
24,225 28,500
CURRENT ASSETS
Stocks 28,597 -
Debtors 158,448 129,453
Cash at bank and in hand 2,509 83,657
189,554 213,110
Creditors: Amounts Falling Due Within One Year (71,087 ) (86,900 )
NET CURRENT ASSETS (LIABILITIES) 118,467 126,210
TOTAL ASSETS LESS CURRENT LIABILITIES 142,692 154,710
Creditors: Amounts Falling Due After More Than One Year (24,061 ) (38,228 )
NET ASSETS 118,631 116,482
CAPITAL AND RESERVES
Called up share capital 5 1,001 1,001
Profit and Loss Account 117,630 115,481
SHAREHOLDERS' FUNDS 118,631 116,482
Page 1
Page 2
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Martin Elswood
Director
28/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
F. R. Elswood Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02616843 . The registered office is Foxdenton Hall Farm, Foxdenton Lane, Middleton, Manchester, M24 1QW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles Reducing Balance @ 15%
Fixtures & Fittings Reducing Balance @ 15%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2022: 2)
1 2
4. Tangible Assets
Total
£
Cost
As at 1 September 2022 124,763
As at 28 February 2024 124,763
Depreciation
As at 1 September 2022 96,263
Provided during the period 4,275
As at 28 February 2024 100,538
Net Book Value
As at 28 February 2024 24,225
As at 1 September 2022 28,500
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Page 4
5. Share Capital
28 February 2024 31 August 2022
£ £
Allotted, Called up and fully paid 1,001 1,001
Page 4