Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Letting Propertytruefalse1false2023-07-011false 13478229 2023-07-01 2024-06-30 13478229 2022-07-01 2023-06-30 13478229 2024-06-30 13478229 2023-06-30 13478229 c:Director1 2023-07-01 2024-06-30 13478229 d:FreeholdInvestmentProperty 2024-06-30 13478229 d:FreeholdInvestmentProperty 2023-06-30 13478229 d:CurrentFinancialInstruments 2024-06-30 13478229 d:CurrentFinancialInstruments 2023-06-30 13478229 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13478229 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13478229 d:ShareCapital 2024-06-30 13478229 d:ShareCapital 2023-06-30 13478229 d:RetainedEarningsAccumulatedLosses 2024-06-30 13478229 d:RetainedEarningsAccumulatedLosses 2023-06-30 13478229 c:FRS102 2023-07-01 2024-06-30 13478229 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13478229 c:FullAccounts 2023-07-01 2024-06-30 13478229 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13478229 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 13478229









ELM SQUARED LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
ELM SQUARED LIMITED
REGISTERED NUMBER: 13478229

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,774,457
1,774,457

  
1,774,457
1,774,457

Current assets
  

Debtors: amounts falling due within one year
  
9,856
-

Cash at bank and in hand
 6 
8,707
30,469

  
18,563
30,469

Creditors: amounts falling due within one year
 7 
(1,754,502)
(1,790,189)

Net current liabilities
  
 
 
(1,735,939)
 
 
(1,759,720)

Total assets less current liabilities
  
38,518
14,737

  

Net assets
  
38,518
14,737


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
38,418
14,637

  
38,518
14,737


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Page 1

 
ELM SQUARED LIMITED
REGISTERED NUMBER: 13478229
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024



E Masterson
Director

Date: 20 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ELM SQUARED LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Elm Squared Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through a Directors loan. The Directors intend to continue to support the company. As a result they have adopted the going concern basis of accounting. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ELM SQUARED LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans 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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
ELM SQUARED LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,774,457



At 30 June 2024
1,774,457

The 2024 valuations were made by by the director, on an open market value for existing use basis.








5.


Debtors

2024
2023
£
£


Trade debtors
9,856
-

9,856
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,707
30,469

8,707
30,469


Page 5

 
ELM SQUARED LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
6,614
3,504

Other creditors
1,745,428
1,784,225

Accruals and deferred income
2,460
2,460

1,754,502
1,790,189



8.


Related party transactions

Included within other creditors is a directors loan of £1,745,428 (2023: £1,784,225) provided to the company. There is 1% (2023: 1%)  interest charged on this loan and it is repayable upon demand.

 
Page 6