| REGISTERED NUMBER: |
| ELMSROSE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
| REGISTERED NUMBER: |
| ELMSROSE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELMSROSE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor, One Hobbs House, |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| BALANCE SHEET |
| 31 JULY 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| BALANCE SHEET - continued |
| 31 JULY 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 1. | STATUTORY INFORMATION |
| Elmsrose Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Computer Equipment - Straight line over 4 years |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, based on expenditure incurred during the year towards the development of properties. |
| 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. |
| Going concern |
| The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that might result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2022 |
| and 31 July 2023 |
| DEPRECIATION |
| At 1 August 2022 |
| Charge for year |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 August 2022 |
| and 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Amounts owed by associates |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to associates | 342,689 | 223,722 |
| Other creditors |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more than 5 years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Other loans more than 5 years | 710,000 | 2,718,247 |
| Other Loans are secured by way of a fixed charge over the individual investment properties to which they relate. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 August 2022 | ( |
) |
| Profit for the year |
| At 31 July 2023 | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| At the year-end date, included within debtors, amounts falling due within one year is an amount of £1,034,525 (2022: £170,003) owed from related entities in which the director Mr U L Patel has beneficial interest. |
| These amounts are unsecured, interest-free and repayable on demand. |
| At the year-end date, included within creditors, amounts falling due within one year is an amount of £504,593 (2022: £380,227) owed to related entities in which the director Mr U L Patel has beneficial interest. |
| At the year-end date, included within debtors, amounts falling due within one year, is an amount of £109,539 (2022: £212,502) owed to the director Mr U L Patel. |
| These amounts are unsecured, interest free and payable on demand. |
| ELMSROSE LIMITED (REGISTERED NUMBER: 12126988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is U L Patel. |