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REGISTERED NUMBER: 04461839 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

ELM Building Service Engineers Ltd

ELM Building Service Engineers Ltd (Registered number: 04461839)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


ELM Building Service Engineers Ltd (Registered number: 04461839)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,288 92,882

CURRENT ASSETS
Stocks 10,048 27,942
Debtors 5 3,124,543 2,589,759
Cash at bank and in hand 1,312,956 1,506,098
4,447,547 4,123,799
CREDITORS
Amounts falling due within one year 6 2,443,371 1,875,681
NET CURRENT ASSETS 2,004,176 2,248,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,096,464

2,341,000

PROVISIONS FOR LIABILITIES 8 13,733 414,338
NET ASSETS 2,082,731 1,926,662

CAPITAL AND RESERVES
Called up share capital 95 95
Capital redemption reserve 5 5
Retained earnings 2,082,631 1,926,562
SHAREHOLDERS' FUNDS 2,082,731 1,926,662

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 22 January 2025 and were signed on its behalf by:





N A Munday - Director


ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

ELM Building Service Engineers Ltd 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: 04461839

Registered office: Unit E1
Nepshaw Lane South
Gildersome
Leeds
West Yorkshire
LS27 7JQ

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


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.

Turnover
Turnover represents value of work undertaken in respect of building engineering services during the financial year.

In respect of sales directly invoiced to customers on completion of the works, the company recognises turnover when the invoice is issued to the customer. In respect of contractual works for which the company submits applications for payment in respect of the agreed stage of completion of the works, or where stage payments are agreed, the company recognises turnover based upon the agreed stage of completion of the works.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

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.

ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments:

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loan receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash at bank
Cash at bank and in hand and deposits held with banks are measured at transaction price.

Trade and other creditors
Short term debtors are measured at transaction price, less any impairment. Loan receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company makes employer contributions into the personal pension schemes of directors and employees at its discretion. Contributions paid are charged in the profit and loss account.

Short term employee benefits
Short term employee benefit costs are recognised in the period in which they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 30,457 3,811 65,059
Additions - - -
Disposals - - -
At 30 April 2024 30,457 3,811 65,059
DEPRECIATION
At 1 May 2023 21,419 2,259 49,067
Charge for year 3,045 233 2,399
Eliminated on disposal - - -
At 30 April 2024 24,464 2,492 51,466
NET BOOK VALUE
At 30 April 2024 5,993 1,319 13,593
At 30 April 2023 9,038 1,552 15,992

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 135,512 57,887 292,726
Additions 40,090 - 40,090
Disposals (30,377 ) - (30,377 )
At 30 April 2024 145,225 57,887 302,439
DEPRECIATION
At 1 May 2023 84,920 42,179 199,844
Charge for year 20,657 2,357 28,691
Eliminated on disposal (18,384 ) - (18,384 )
At 30 April 2024 87,193 44,536 210,151
NET BOOK VALUE
At 30 April 2024 58,032 13,351 92,288
At 30 April 2023 50,592 15,708 92,882

ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 1,712,525 1,522,652
Amounts owed by group undertakings 1,110,833 -
Amounts recoverable on contract 111,431 798,036
Other debtors 139,754 219,071
3,074,543 2,539,759

Amounts falling due after more than one year:
Other debtors 50,000 50,000

Aggregate amounts 3,124,543 2,589,759

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 1,093,599 1,311,835
Taxation and social security 184,657 80,899
Other creditors 1,165,115 482,947
2,443,371 1,875,681

7. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Loan from director 436,624 -

The cash loan provided by the director is secured by way of the NAM Composite Debenture as entered into by ELM Building Service Engineers Limited and EBSE Holdings Limited.

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 13,733 12,274
Provision for onerous contract - 402,064
13,733 414,338

ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 May 2023 12,274 402,064
Provided during year 1,459 -
Utilised during year - (402,064 )
Balance at 30 April 2024 13,733 -

Deferred tax
The whole of the deferred taxation balances arises as a result of short term timing differences between the writing off of fixed asset balances in the company's financial statements and the tax allowances being claimed thereon.

Onerous contracts
In 2023 the company made provision for a foreseen loss on an onerous customer contract due to the liquidation of the customer in 2024. The provision has been released in full in 2024 to match against the financial activity on this contract in 2024. As a result of the onerous contract provision, the financial effect of the foreseen loss was recognised in full in 2023.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren John Metcalfe F.C.C.A. (Senior Statutory Auditor)
for and on behalf of Frank W Dobby & Co Limited

10. CONTINGENT LIABILITIES

In the financial years ended 30 April 2008 and 2009 the company used and employee benefit scheme with DOTAS number 84197992. Schemes such as this have been under enquiry by HM Revenue & Customs with many users of such schemes making payment to HM Revenue & Customs under accelerated payment notices (APNs). The company has made such payments to HM Revenue & Customs totalling £137,895.80 and is presented within 'other debtors' in these financial statements.

The company has not entered into a settlement arrangement with HM Revenue & Customs and has not recognised the potential amount due as a liability in its financial statements. Whilst HM Revenue & Customs continue to press for settlement, the transfer of economic benefits remains contingent upon uncertain future events.

The quantum of the potential liability which could be debited to equity is £180,641 comprising the tax and national insurance due along with interest for late payment. The tax and national insurance element has been paid (tax debtor £137,896) and therefore the company would only be required to actually settle any calculated interest deemed to be due, which on 21 March 2023 HM Revenue & Customs estimated to be £42,745.

ELM Building Service Engineers Ltd (Registered number: 04461839)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
N A Munday
Balance outstanding at start of year 2,000 -
Amounts advanced - 38,000
Amounts repaid (2,000 ) (36,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,000

12. RELATED PARTY DISCLOSURES

As permitted under FRS 102 transactions between group companies which are wholly owned have not been disclosed.

At the start of the financial year a loan existed to N Munday (director) in the sum of £2,000 which has been repaid in this financial year (see Directors advances, credits and guarantees).

On 21 September 2023 as part of the management buyout, the company entered into a secured loan agreement with N Munday (director) in respect of a cash loan provided to the company (up to a maximum balance of £750,000). Under the terms of the loan agreement interest accrues at 6%. The amount owed to the director at 30 April 2024 amounts to £436,624.

13. ULTIMATE PARENT UNDERTAKING

The immediate and ultimate parent undertaking is EBSE Holdings Limited.