REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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for |
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Elmswell (Holdings) Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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for |
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Elmswell (Holdings) Limited |
Elmswell (Holdings) Limited (Registered number: 02704419) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 | to | 3 |
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Notes to the Abbreviated Accounts | 4 | to | 6 |
Elmswell (Holdings) Limited |
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Company Information |
for the Year Ended 31 December 2015 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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Elmswell (Holdings) Limited (Registered number: 02704419) |
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Abbreviated Balance Sheet |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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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 | 6 |
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Share premium |
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Revaluation reserve |
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Other distributable reserves |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Elmswell (Holdings) Limited (Registered number: 02704419) |
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Abbreviated Balance Sheet - continued |
31 December 2015 |
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The financial statements were approved by the Board of Directors on
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Elmswell (Holdings) Limited (Registered number: 02704419) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities |
(effective January 2015). |
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Preparation of consolidated financial statements |
The financial statements contain information about Elmswell (Holdings) Limited as an individual company and |
do not contain consolidated financial information as the parent of a group. The company has taken the option |
under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service |
contracts where turnover is recognised when the company obtains the right to consideration. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment properties |
Investment properties are included in the accounts at market value and are not depreciated, in accordance |
with the Financial Reporting Standard for Smaller Entities and Statement of Standard Accounting Practice 19. |
The revaluation amount is credited to the revaluation reserve. |
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This represents a departure from the Companies Act which requires that all assets are depreciated. The |
directors believe that this departure is necessary for the accounts to show a true and fair view. |
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The directors consider that the high net realisable value and long useful economic life is such that the |
corresponding depreciation would not be material. |
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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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Investments |
Fixed asset investments are stated at a valuation based on the most recent available accounts of the company. |
The revaluation is credited/debited to the revaluation reserve. |
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Impairment |
At each reporting date, tangible fixed assets and investments are assessed to determine whether there is an |
indication that the carrying amount of an asset may be more than its recoverable amount and that the asset |
should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which |
is the higher of its value in use and its net realisable value, is estimated and compared with its carrying |
amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated |
recoverable amount and an impairment loss is recognised in profit and loss. |
Elmswell (Holdings) Limited (Registered number: 02704419) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2015 |
and 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
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loans |
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COST OR VALUATION |
At 1 January 2015 |
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Revaluations | 10,753 |
At 31 December 2015 | 353,703 |
NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Country of incorporation: England and Wales |
Nature of business:
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Class of shares: | holding |
Ordinary | 100.00 |
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£ | £ |
Aggregate capital and reserves | 353,703 | 342,950 |
Profit for the year | 10,752 | 54,220 |
Elmswell (Holdings) Limited (Registered number: 02704419) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2015 |
and 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
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The aggregate total of debtors falling due after more than one year is £
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2015 and |
31 December 2014: |
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2015 | 2014 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Interest on this loan was charged by the company at the HM Revenue & Customs approved rate of 3.25% and |
amounted to £1,179 (2014: £1,779). |