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Registered number: 06431426
Elmgreen Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Elmgreen Properties Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4—6

Page 1
Elmgreen Properties Limited
Balance Sheet
As At 31 March 2025
Balance Sheet
Registered number: 06431426

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,550,000 |  | 1,575,000
|  |  | 1,550,000 |  | 1,575,000
CURRENT ASSETS
Debtors | 5 | 776 |  | 1,070 |
Cash at bank and in hand |  | 700 |  | 200 |
|  | 1,476 |  | 1,270 |
Creditors: Amounts Falling Due Within One Year | 6 | (249,467 ) |  | (252,374 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (247,991 ) |  | (251,104 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,302,009 |  | 1,323,896
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (152,812 ) |  | (157,562 )
NET ASSETS |  |  | 1,149,197 |  | 1,166,334
CAPITAL AND RESERVES
Called up share capital | 7 |  | 450,100 |  | 450,100
Fair value reserve | 8 |  | 651,463 |  | 671,713
Profit and Loss Account |  |  | 47,634 |  | 44,521
SHAREHOLDERS' FUNDS |  |  | 1,149,197 |  | 1,166,334

Page 1
Page 2
Elmgreen Properties Limited
Balance Sheet (continued)
As At 31 March 2025
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr S Ainsley Director
4 December 2025

The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Elmgreen Properties Limited
Statement of Changes in Equity
For The Year Ended 31 March 2025
Statement of Changes in Equity

| Share Capital | Fair value reserve | Profit and Loss Account | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
As at 1 April 2023 | 450,100 | 671,713 | 46,732 | 1,168,545
Profit for the year and total comprehensive income | - | - | 13,789 | 13,789
Dividends paid | - | - | (16,000) | (16,000)
As at 31 March 2024 and 1 April 2024 | 450,100 | 671,713 | 44,521 | 1,166,334
Loss for the year and total comprehensive income | - | - | (9,137 ) | (9,137)
Dividends paid | - | - | (8,000) | (8,000)
Movements in fair value reserve | - | (20,250) | - | (20,250)
Transfer to/from Fair value reserve | - | - | 20,250 | 20,250
As at 31 March 2025 | 450,100 | 651,463 | 47,634 | 1,149,197

Page 3
Page 4
Elmgreen Properties Limited
Notes to the Financial Statements
For The Year Ended 31 March 2025
Notes to the Financial Statements
1. General Information
Elmgreen Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06431426 . The registered office is 35a Bellemoor Road, Southampton, Hampshire, SO15 7QW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover shown in the profit and loss account represents rent receivable during the period.
2.3. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Creditors
Short term trade 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
Page 4
Page 5
Elmgreen Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets

| Investment Properties
--- | ---
| £
Cost or Valuation
As at 1 April 2024 | 1,575,000
Revaluation | (25,000 )
As at 31 March 2025 | 1,550,000
Net Book Value
As at 31 March 2025 | 1,550,000
As at 1 April 2024 | 1,575,000

Cost or valuation as at 31 March 2025 represented by:

| Investment Properties
--- | ---
| £
At cost | 745,725
At valuation | 804,275
| 1,550,000

The investment property was valued on an open market basis on 31 March 2025 by the director.
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Other debtors | 776 |  | 1,070

Page 5
Page 6
Elmgreen Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other creditors | 246,380 |  | 248,679
Taxation and social security | 3,087 |  | 3,695
| 249,467 |  | 252,374

7. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 450,100 |  | 450,100

8. Reserves

| Fair Value Reserve
--- | ---
| £
As at 1 April 2024 | 671,713
Movements in fair value reserve | (20,250)
As at 31 March 2025 | 651,463

Page 6