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REGISTERED NUMBER: OC320727 (England and Wales)












ELMWOOD CONSTRUCTION LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 7,654 8,305
Investment property 5 1,690,000 1,868,000
1,697,654 1,876,305

Current assets
Debtors 6 395,726 230,446
Cash at bank 97,466 213,901
493,192 444,347
Creditors
Amounts falling due within one year 7 29,873 31,225
Net current assets 463,319 413,122
Total assets less current liabilities
and
Net assets attributable to members 2,160,973 2,289,427

Loans and other debts due to members 9 747,795 747,795

Members' other interests
Revaluation reserve 10 1,216,179 1,294,047
Fair value reserve 10 196,999 247,585
2,160,973 2,289,427

Total members' interests
Loans and other debts due to members 9 747,795 747,795
Members' other interests 1,413,178 1,541,632
Amounts due from members 6 (394,734 ) (215,959 )
1,766,239 2,073,468

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 January 2025 and were signed by:





Mr P A Noblett - Designated member

ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. Statutory information

Elmwood Construction LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC320727

Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a service to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% Straight line, 25% Reducing balance and 10% Straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. Employee information

The average number of employees during the year was 4 (2023 - 5 ) .

ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 May 2023 90,485
Additions 3,197
At 30 April 2024 93,682
Depreciation
At 1 May 2023 82,180
Charge for year 3,848
At 30 April 2024 86,028
Net book value
At 30 April 2024 7,654
At 30 April 2023 8,305

5. Investment property
Total
£   
Fair value
At 1 May 2023 1,868,000
Disposals (178,000 )
At 30 April 2024 1,690,000
Net book value
At 30 April 2024 1,690,000
At 30 April 2023 1,868,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2011 1,216,177
Valuation in 2019 197,000
Cost 276,823
1,690,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 8,997
Other debtors 395,726 221,449
395,726 230,446

ELMWOOD CONSTRUCTION LLP (REGISTERED NUMBER: OC320727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 3,371 7,745
Taxation and social security 7,121 2,603
Other creditors 19,381 20,877
29,873 31,225

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 18,745 22,494
Between one and five years - 18,745
18,745 41,239

9. Loans and other debts due to members
2024 2023
£    £   
Loans from members 747,795 747,795

Falling due within one year 747,795 747,795

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

10. Reserves
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 May 2023 1,294,047 247,585 1,541,632
Transfer (77,868 ) (50,586 ) (128,454 )
At 30 April 2024 1,216,179 196,999 1,413,178