Company registration number 04055768 (England and Wales)
ELMTREE HOMES (MIDLANDS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ELMTREE HOMES (MIDLANDS) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ELMTREE HOMES (MIDLANDS) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ELMTREE HOMES (MIDLANDS) LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elmtree Homes (Midlands) Limited for the year ended 30 November 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Elmtree Homes (Midlands) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Elmtree Homes (Midlands) Limited and state those matters that we have agreed to state to the board of directors of Elmtree Homes (Midlands) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elmtree Homes (Midlands) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Elmtree Homes (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elmtree Homes (Midlands) Limited. You consider that Elmtree Homes (Midlands) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elmtree Homes (Midlands) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
7 April 2025
ELMTREE HOMES (MIDLANDS) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
84,467
37,110
Current assets
Stocks
42,561
21,883
Debtors
4
166,152
177,568
Cash at bank and in hand
48,990
49,082
257,703
248,533
Creditors: amounts falling due within one year
5
(293,504)
(244,645)
Net current (liabilities)/assets
(35,801)
3,888
Total assets less current liabilities
48,666
40,998
Creditors: amounts falling due after more than one year
6
(14,093)
(31,481)
Provisions for liabilities
(21,116)
(9,277)
Net assets
13,457
240
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
13,257
40
Total equity
13,457
240
ELMTREE HOMES (MIDLANDS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 3 -

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 April 2025 and are signed on its behalf by:
G H Holmes
Director
Company registration number 04055768 (England and Wales)
ELMTREE HOMES (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information

Elmtree Homes (Midlands) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the director not requiring the withdrawal of his monies owed to him until sufficient funds are available.

 

If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance
Office equipment
33% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ELMTREE HOMES (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
5
ELMTREE HOMES (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
89,706
5,294
97,397
192,397
Additions
680
999
61,933
63,612
Disposals
(15,000)
(2,667)
-
0
(17,667)
At 30 November 2024
75,386
3,626
159,330
238,342
Depreciation and impairment
At 1 December 2023
60,989
4,034
90,264
155,287
Depreciation charged in the year
4,309
467
11,006
15,782
Eliminated in respect of disposals
(14,528)
(2,666)
-
0
(17,194)
At 30 November 2024
50,770
1,835
101,270
153,875
Carrying amount
At 30 November 2024
24,616
1,791
58,060
84,467
At 30 November 2023
28,717
1,260
7,133
37,110
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,251
9,066
Other debtors
146,901
168,502
166,152
177,568
5
Creditors: amounts falling due within one year
2024
2023
£
£
Loans and borrowings
7,383
6,667
Trade creditors
87,776
87,078
Taxation and social security
25,642
30,167
Other creditors
172,703
120,733
293,504
244,645
ELMTREE HOMES (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loans and borrowings
14,093
556
Other creditors
-
30,925
14,093
31,481
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary A shares of £1 each
25
25
25
25
Ordinary B shares of £1 each
25
25
25
25
Ordinary C shares of £1 each
25
25
25
25
Ordinary D shares of £1 each
12
12
12
12
Ordinary E shares of £1 each
13
13
13
13
200
200
200
200
8
Events after the reporting date

After the balance sheet date, the following dividends have been voted;

 

Ordinary B shares - £3,200

Ordinary C shares - £2,400

Ordinary D shares - £2,600

Ordinary E shares - £2,000

9
Directors' transactions

At the balance sheet date amounts owed to directors amounted to £147,307 (2023 - £107,874).

 

2024-11-302023-12-01falsefalsefalse07 April 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activityG H HolmesP M ThorntonJ HolmesT HolmesA M Holmes040557682023-12-012024-11-30040557682024-11-30040557682023-11-3004055768core:PlantMachinery2024-11-3004055768core:ComputerEquipment2024-11-3004055768core:MotorVehicles2024-11-3004055768core:PlantMachinery2023-11-3004055768core:ComputerEquipment2023-11-3004055768core:MotorVehicles2023-11-3004055768core:CurrentFinancialInstrumentscore:WithinOneYear2024-11-3004055768core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3004055768core:Non-currentFinancialInstrumentscore:AfterOneYear2024-11-3004055768core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3004055768core:CurrentFinancialInstruments2024-11-3004055768core:CurrentFinancialInstruments2023-11-3004055768core:Non-currentFinancialInstruments2024-11-3004055768core:Non-currentFinancialInstruments2023-11-3004055768core:ShareCapital2024-11-3004055768core:ShareCapital2023-11-3004055768core:RetainedEarningsAccumulatedLosses2024-11-3004055768core:RetainedEarningsAccumulatedLosses2023-11-3004055768core:ShareCapitalOrdinaryShares2024-11-3004055768core:ShareCapitalOrdinaryShares2023-11-3004055768bus:Director12023-12-012024-11-3004055768core:PlantMachinery2023-12-012024-11-3004055768core:ComputerEquipment2023-12-012024-11-3004055768core:MotorVehicles2023-12-012024-11-30040557682022-12-012023-11-3004055768core:PlantMachinery2023-11-3004055768core:ComputerEquipment2023-11-3004055768core:MotorVehicles2023-11-30040557682023-11-3004055768core:WithinOneYear2024-11-3004055768core:WithinOneYear2023-11-3004055768bus:PrivateLimitedCompanyLtd2023-12-012024-11-3004055768bus:SmallCompaniesRegimeForAccounts2023-12-012024-11-3004055768bus:FRS1022023-12-012024-11-3004055768bus:AuditExemptWithAccountantsReport2023-12-012024-11-3004055768bus:Director22023-12-012024-11-3004055768bus:Director32023-12-012024-11-3004055768bus:Director42023-12-012024-11-3004055768bus:CompanySecretary12023-12-012024-11-3004055768bus:FullAccounts2023-12-012024-11-30xbrli:purexbrli:sharesiso4217:GBP