Elgar Properties (Martley) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 15052123 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

ELGAR PROPERTIES (MARTLEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Harrison Jnr

REGISTERED OFFICE:

75 Lowesmoor

United Kingdom

Worcester

Worcestershire

WR1 2RS

REGISTERED NUMBER:

15052123 (England and Wales)

ACCOUNTANTS:

Hayward Wright Ltd

4 Clews Road

Redditch

Worcestershire

B98 7ST

CURRENT ASSETS

Stocks

4

-

2,229,589

Debtors

5

1,503,567

526,184

Cash at bank

4,274

5,585

1,507,841

2,761,358

CREDITORS

Amounts falling due within one year

6

1,516,561

2,766,372

NET CURRENT LIABILITIES

(8,720

)

(5,014

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,720

)

(5,014

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

(8,820

)

(5,114

)

SHAREHOLDERS' FUNDS

(8,720

)

(5,014

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th November 2025 and were signed by:

S Harrison Jnr - Director

1.	STATUTORY INFORMATION

Elgar Properties (Martley) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

STOCKS

31/3/25

31/3/24

£

Work-in-progress

-

2,229,589

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Amounts owed by group undertakings

1,476,468

498,659

Other debtors

27,099

27,100

VAT

-

425

1,503,567

526,184

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Bank loans and overdrafts (see note 7)

-

1,788,993

Trade creditors

2,250

-

Amounts owed to group undertakings

1,512,061

975,129

Accrued expenses

2,250

1,516,561

2,766,372

7.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

31/3/24

£

Amounts falling due within one year or on demand:

Bank loans

-

1,788,993

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

Bank loans

-

1,788,993

The bank loan is secured by way of a first legal charge over the land adjacent to Sandyfields, Kingswood, Martley, WR6 6PD.

The Director has also offered a personal guarantee for £768,000 plus interest, fees and expenses.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

100

Ordinary

£1

100