Elmwood Education Limited 08641895 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of publishers Digita Accounts Production Advanced 6.30.9574.0 true true 08641895 2023-09-01 2024-08-31 08641895 2024-08-31 08641895 bus:OrdinaryShareClass1 bus:OtherShareType 2024-08-31 08641895 bus:OrdinaryShareClass2 bus:OtherShareType 2024-08-31 08641895 bus:OrdinaryShareClass3 bus:OtherShareType 2024-08-31 08641895 bus:OrdinaryShareClass4 bus:OtherShareType 2024-08-31 08641895 bus:OrdinaryShareClass5 bus:OtherShareType 2024-08-31 08641895 bus:OtherShareClass1 bus:OtherShareType 2024-08-31 08641895 core:FinanceLeases core:CurrentFinancialInstruments 2024-08-31 08641895 core:CurrentFinancialInstruments 2024-08-31 08641895 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 08641895 core:FurnitureFittingsToolsEquipment 2024-08-31 08641895 core:MotorVehicles 2024-08-31 08641895 core:OtherPropertyPlantEquipment 2024-08-31 08641895 bus:SmallEntities 2023-09-01 2024-08-31 08641895 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08641895 bus:FilletedAccounts 2023-09-01 2024-08-31 08641895 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08641895 bus:RegisteredOffice 2023-09-01 2024-08-31 08641895 bus:Director1 2023-09-01 2024-08-31 08641895 bus:Director2 2023-09-01 2024-08-31 08641895 bus:OrdinaryShareClass1 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:OrdinaryShareClass2 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:OrdinaryShareClass3 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:OrdinaryShareClass4 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:OrdinaryShareClass5 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:OtherShareClass1 bus:OtherShareType 2023-09-01 2024-08-31 08641895 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08641895 core:FurnitureFittings 2023-09-01 2024-08-31 08641895 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 08641895 core:MotorVehicles 2023-09-01 2024-08-31 08641895 core:OfficeEquipment 2023-09-01 2024-08-31 08641895 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 08641895 countries:AllCountries 2023-09-01 2024-08-31 08641895 2023-08-31 08641895 core:FurnitureFittingsToolsEquipment 2023-08-31 08641895 core:MotorVehicles 2023-08-31 08641895 core:OtherPropertyPlantEquipment 2023-08-31 08641895 2022-09-01 2023-08-31 08641895 2023-08-31 08641895 bus:OrdinaryShareClass1 bus:OtherShareType 2023-08-31 08641895 bus:OrdinaryShareClass2 bus:OtherShareType 2023-08-31 08641895 bus:OrdinaryShareClass3 bus:OtherShareType 2023-08-31 08641895 bus:OrdinaryShareClass4 bus:OtherShareType 2023-08-31 08641895 bus:OrdinaryShareClass5 bus:OtherShareType 2023-08-31 08641895 bus:OtherShareClass1 bus:OtherShareType 2023-08-31 08641895 core:FinanceLeases core:CurrentFinancialInstruments 2023-08-31 08641895 core:CurrentFinancialInstruments 2023-08-31 08641895 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08641895 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-08-31 08641895 core:FurnitureFittingsToolsEquipment 2023-08-31 08641895 core:MotorVehicles 2023-08-31 08641895 core:OtherPropertyPlantEquipment 2023-08-31 08641895 core:PreviouslyStatedAmount 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08641895

Elmwood Education Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Elmwood Education Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Elmwood Education Limited

Company Information

Directors

Mrs Louise Michelle Gardner

Mr David John Gardner

Registered office

Unit 5 Mallow Park
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1GX

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Elmwood Education Limited

(Registration number: 08641895)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,738

36,782

Current assets

 

Stocks

5

348,205

399,318

Debtors

6

70,455

112,480

Cash at bank and in hand

 

220,058

261,070

 

638,718

772,868

Creditors: Amounts falling due within one year

7

(56,147)

(95,894)

Net current assets

 

582,571

676,974

Total assets less current liabilities

 

593,309

713,756

Provisions for liabilities

(2,040)

(6,989)

Net assets

 

591,269

706,767

Capital and reserves

 

Called up share capital

8

6

6

Profit and loss account

591,263

706,761

Total equity

 

591,269

706,767

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mrs Louise Michelle Gardner
Director

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 5 Mallow Park
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1GX
England

The principal place of business is:
Unit 5 Mallow Park
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1GX
England

These financial statements were authorised for issue by the Board on 13 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% of net book value

Office equipment

35% of net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

47,967

39,675

9,500

97,142

Disposals

-

(39,675)

-

(39,675)

At 31 August 2024

47,967

-

9,500

57,467

Depreciation

At 1 September 2023

40,737

16,743

2,880

60,360

Charge for the year

1,788

1,529

1,324

4,641

Eliminated on disposal

-

(18,272)

-

(18,272)

At 31 August 2024

42,525

-

4,204

46,729

Carrying amount

At 31 August 2024

5,442

-

5,296

10,738

At 31 August 2023

7,230

22,932

6,620

36,782

5

Stocks

2024
£

2023
£

Other inventories

348,205

399,318

6

Debtors

2024
£

2023
£

Trade debtors

37,306

86,894

Prepayments

4,558

4,261

Other debtors

28,591

21,325

70,455

112,480

 

Elmwood Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

387

427

Taxation and social security

19,986

29,095

Accruals and deferred income

14,826

22,436

Other creditors

448

448

Corporation tax

-

5,596

Hire Purchase under 1 year

-

17,392

Directors Loan Account

20,500

20,500

56,147

95,894

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

Ordinary E of £1 each

1

1

1

1

Ordinary F of £1 each

1

1

1

1

6

6

6

6

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

-

17,392