REGISTERED NUMBER: 11166961 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Elmcroft Construction Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

997,743

756,826

997,743

756,826

CURRENT ASSETS

Debtors

6

3,503,817

1,686,476

Cash at bank

2,182,884

2,649,797

5,686,701

4,336,273

CREDITORS

Amounts falling due within one year

7

(1,829,846

)

(930,646

)

NET CURRENT ASSETS

3,856,855

3,405,627

TOTAL ASSETS LESS CURRENT LIABILITIES

4,854,598

4,162,453

CREDITORS

Amounts falling due after more than one year

8

(221,492

)

(159,453

)

PROVISIONS FOR LIABILITIES

(234,885

)

(189,206

)

NET ASSETS

4,398,221

3,813,794

CAPITAL AND RESERVES

Called up share capital

100,400

100,400

Retained earnings

4,297,821

3,713,394

4,398,221

3,813,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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 4 September 2025 and were signed on its behalf by:

Mr C P Barnes - Director

1.	STATUTORY INFORMATION

Elmcroft Construction Ltd is a private company, limited by shares, domiciled in England, registration number 11166961. The registered office is 12 Greycaine Road, Watford, Hertfordshire, WD24 7GP.

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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

56,500

AMORTISATION

At 1 January 2024

and 31 December 2024

56,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,204,983

Additions

567,411

Disposals

(184,257

)

At 31 December 2024

1,588,137

DEPRECIATION

At 1 January 2024

448,157

Charge for year

255,132

Eliminated on disposal

(112,895

)

At 31 December 2024

590,394

NET BOOK VALUE

At 31 December 2024

997,743

At 31 December 2023

756,826

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

655,276

Additions

359,464

Transfer to ownership

(155,054

)

At 31 December 2024

859,686

DEPRECIATION

At 1 January 2024

186,322

Charge for year

142,808

Transfer to ownership

(90,456

)

At 31 December 2024

238,674

NET BOOK VALUE

At 31 December 2024

621,012

At 31 December 2023

468,954

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,648,074

1,247,189

Other debtors

1,855,743

439,287

3,503,817

1,686,476

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts and finance leases

173,024

170,998

Trade creditors

269,253

311,350

Taxation and social security

98,143

243,761

Other creditors

1,289,426

204,537

1,829,846

930,646

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts and finance leases

221,492

159,453

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts and finance leases

394,516

330,451

Amounts due on hire purchase agreements are secured against the assets to which they relate.

10.	RELATED PARTY DISCLOSURES

In the year, directors loan interest of £9,989 was paid (2023 - £19,934).

At the year end the company was owed £988,816 (2023 - £nil).

11.	ULTIMATE PARENT ENTITY

The controlling party is Newfoundland Holdings Ltd. Newfoundland Holdings Ltd is registered in England under registration number 15163478. The registered office is 12 Greycaine Road, Watford, England, WD24 7GP.