Year Ended
Registration number:
Elm Developments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Elm Developments Limited
Company Information
Directors |
Miss I C Rosser Mrs K J Rosser Mrs J M Kingdon |
Registered office |
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Accountants |
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Elm Developments Limited
Balance Sheet
31 January 2021
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2020 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Elm Developments Limited
Balance Sheet
31 January 2021
For the financial year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 00949328
Elm Developments Limited
Notes to the Financial Statements
Year Ended 31 January 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 section 1A, and the Companies Act 2006. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. There is no material impact on the reported financial position and financial performance.
Going concern
The financial statements have been prepared on a going concern basis and the directors have considered the impact of the COVID-19 pandemic. The directors are confident that the company will continue to trade as a going concern for the forseeable future.
Tax
Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Elm Developments Limited
Notes to the Financial Statements
Year Ended 31 January 2021
Investment property
Financial instruments
Classification
• Short term trade and other debtors and other creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Revenue recognition
Turnover comprises the fair value of rental income receivable in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue:
In the period to which it relates with accrued and deferred income being adjusted as necessary.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2021 |
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At 1 February 2020 and 31 January 2021 |
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No change in value of investment property has taken place over current period. The historic cost of the investment property is £3,181,551 (2020 - £3,181,551).
Elm Developments Limited
Notes to the Financial Statements
Year Ended 31 January 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Amounts due from group undertakings |
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Other debtors |
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Prepayments |
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Creditors |
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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500,000 |
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500,000 |
Reserves |
As at 31 January 2021 the profit and loss account included £1,138,456 (2020 £1,141,451) of non-distributable reserves. This relates to the revaluation surplus on investment properties.
Elm Developments Limited
Notes to the Financial Statements
Year Ended 31 January 2021
Parent and ultimate parent undertaking |
The company's immediate parent is
The address of its registered office is:
Hawthorn House
Emperor Way
Exeter Business Park
Exeter, EX1 3QS
United Kingdom
The group is exempt from preparing consolidated accounts.