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Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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ELM CONSOLIDATORS LIMITED |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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ELM CONSOLIDATORS LIMITED |
ELM CONSOLIDATORS LIMITED (REGISTERED NUMBER: 02573474) |
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Contents of the Financial Statements |
for the year ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ELM CONSOLIDATORS LIMITED |
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Company Information |
for the year ended 31 March 2018 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
ELM CONSOLIDATORS LIMITED (REGISTERED NUMBER: 02573474) |
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Abridged Balance Sheet |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
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Investments | 6 |
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Current assets |
Debtors |
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Cash at bank |
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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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Capital and reserves |
Called up share capital | 7 |
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Revaluation reserve | 8 |
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Other reserves |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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ELM CONSOLIDATORS LIMITED (REGISTERED NUMBER: 02573474) |
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Notes to the Financial Statements |
for the year ended 31 March 2018 |
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1. | Statutory information |
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Elm Consolidators Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The company's trading address is 25 Globe Industrial Estate, Rectory Road, Grays RM17 6ST. |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future event that are believed to be reasonable under the circumstances. |
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There are not considered to be any critical judgements in applying the company's accounting policies. |
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The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, |
by definition, seldom equal the related actual results. There are not considered to be any critical estimates used |
in preparing these financial statements. |
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Turnover |
The company acts as an agent for the arrangement of freight forwarding services for third parties. Its turnover |
represents commissions and fees receivable net of discounts and VAT. Where the services provided include |
delivery the revenue is recognised on delivery to the customer, if not revenue is recognised when customs |
clearance takes place. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
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Basic financial assets, including trade and other debtors, loans to fellow group companies and bank balances, |
are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where |
the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors that are classified as debt, are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is |
measured at the present value of the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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ELM CONSOLIDATORS LIMITED (REGISTERED NUMBER: 02573474) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2018 |
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3. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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4. | Employees and directors |
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The average number of employees during the year was
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5. | Tangible fixed assets |
Totals |
£ |
Cost |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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ELM CONSOLIDATORS LIMITED (REGISTERED NUMBER: 02573474) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2018 |
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6. | Fixed asset investments |
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Information on investments other than loans is as follows: |
Totals |
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Cost |
At 1 April 2017 |
and 31 March 2018 | 230 |
Net book value |
At 31 March 2018 | 230 |
At 31 March 2017 | 230 |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 900 | 900 |
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8. | Reserves |
Revaluation |
reserve |
£ |
At 1 April 2017 |
and 31 March 2018 |
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9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | Contingent liabilities |
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HSBC Bank plc hold a guarantee dated 24 August 1999 in favour of HM Revenue and Customs for a sum of |
£150,000 (2017 - £150,000). |
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11. | Related party transactions |
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A director of the company operates a loan account with the company, at the year end the company owed the |
director £8,102 (2017 - £7,236). The loan is interest free and repayable on demand. |