Company Registration No. 00749865 (England and Wales)
Elwell Investments Limited
Unaudited accounts
for the year ended 31 October 2024
Elwell Investments Limited
Unaudited accounts
Contents
Elwell Investments Limited
Company Information
for the year ended 31 October 2024
Directors
Robert Hunter Elwell
John Hunter Elwell
Company Number
00749865 (England and Wales)
Registered Office
380A NEW HYTHE LANE
LARKFIELD
AYLESFORD
KENT
ME20 6RZ
United Kingdom
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Elwell Investments Limited
Statement of financial position
as at 31 October 2024
Cash at bank and in hand
311,253
116,401
Creditors: amounts falling due within one year
(25,706)
(25,707)
Net current assets
375,366
460,102
Total assets less current liabilities
425,715
460,113
Creditors: amounts falling due after more than one year
(13,615)
(22,680)
Net assets
412,100
437,433
Called up share capital
60,000
60,000
Share premium
17,500
17,500
Revaluation reserve
92,040
92,040
Profit and loss account
242,560
267,893
Shareholders' funds
412,100
437,433
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by
Robert Hunter Elwell
Director
Company Registration No. 00749865
Elwell Investments Limited
Notes to the Accounts
for the year ended 31 October 2024
Elwell Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 00749865. The registered office is 380A NEW HYTHE LANE, LARKFIELD, AYLESFORD, KENT, ME20 6RZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investments in shares are included at fair value.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Elwell Investments Limited
Notes to the Accounts
for the year ended 31 October 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Computer equipment
5
Investments
Other investments
Valuation at 1 November 2023
1
Valuation at 31 October 2024
50,342
Amounts falling due within one year
Other debtors
89,819
369,408
Elwell Investments Limited
Notes to the Accounts
for the year ended 31 October 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,707
9,707
Other creditors
14,998
14,999
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
600,000 Ordinary shares of £0.10 each
60,000
60,000
10
Capital commitments
2024
2023
Elwell Investment Limited has an obligation to provide employment for the lifetime of Mrs V Elwell under a contractual agreement. Due to the sensitive nature of this agreement the amount is not disclosed.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
15,230
3,896
3,485
15,641
Directors Loan
8,214
-
-
8,214
23,444
3,896
3,485
23,855
12
Average number of employees
During the year the average number of employees was 0 (2023: 0).