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

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Elosco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brampton Wood Lane, Desborough, Kettering, Northamptonshire, UK, NN14 2SJ.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

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 (where applicable) and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Following the directors' decision to cease the poultry farming activity a review was undertaken of all of the company's fixed assets. Where the value of assets were deemed to have been impaired as a result of the decision they were written down to their recoverable amount, which in the case of assets held for disposal is their fair value less anticipated costs of sale. Certain other assets, which in the future are likely to be held to earn rental income or for capital appreciation were reclassified as investment properties.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

An amount equivalent to the movement in the valuation, net of provision for deferred taxation, is transferred to a separate fair value reserve, except to the extent that it represents a permanent revaluation in value below cost.

The 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 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 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.

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

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

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

Investment properties represent land, encompassing a range of poultry buildings and a tied agricultural cottage, which became redundant following the cessation of the poultry farming activity on 31 March 2018. They were valued at that date by the directors at their open market value for existing use, which is considered to be approximately equivalent to their fair value, based on advice of property agents specialising in sales and letting of such properties. The directors consider that there was no material movement in the open market value of the property during the year ended 31 March 2025.

Other debtors include £8,060 (2024: £8,060) in respect of overdrawn directors' loan accounts (see Note 12).

During the current year and the preceding financial year the company paid £1,500 to Mrs C Lehmann in respect of rents for land and buildings. Although the lease for the premises expired on 2 June 1996, the property was made available to the company under the same terms on a month by month basis. No amounts were outstanding at the balance sheet date.

Neither director is required to pay interest on their loan from the company and the loans are repayable on demand.