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Unaudited Financial Statements |
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for the Period 1 April 2021 to 28 February 2022 |
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for |
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Elm Tree Property Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 April 2021 to 28 February 2022 |
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for |
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Elm Tree Property Ltd |
Elm Tree Property Ltd (Registered number: 10686183) |
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Contents of the Financial Statements |
for the Period 1 April 2021 to 28 February 2022 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Elm Tree Property Ltd |
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Company Information |
for the Period 1 April 2021 to 28 February 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Rectory |
Springhead Road |
Northfleet |
Kent |
DA11 8HN |
Elm Tree Property Ltd (Registered number: 10686183) |
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Abridged Balance Sheet |
28 February 2022 |
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28.2.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investment property | 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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
Elm Tree Property Ltd (Registered number: 10686183) |
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Abridged Balance Sheet - continued |
28 February 2022 |
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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 director and authorised for issue on
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Elm Tree Property Ltd (Registered number: 10686183) |
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Notes to the Financial Statements |
for the Period 1 April 2021 to 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Elm Tree Property Ltd is a
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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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Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
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The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows: |
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Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Taxation |
Taxation for the period 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 period 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. |
Elm Tree Property Ltd (Registered number: 10686183) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2021 to 28 February 2022 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2021 |
and 28 February 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for period |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 31 March 2021 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2021 |
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Additions |
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Revaluations | 50,000 |
At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 31 March 2021 |
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Fair value at 28 February 2022 is represented by: |
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Valuation in 2019 | 19,131 |
Valuation in 2022 | 50,000 |
Cost | 258,551 |
327,682 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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28.2.22 | 31.3.21 |
£ | £ |
Cost | 258,551 | 255,869 |
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Investment property was valued on an open market basis on 25 April 2022 by a director . |
Elm Tree Property Ltd (Registered number: 10686183) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2021 to 28 February 2022 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
28.2.22 | 31.3.21 |
£ | £ |
Repayable otherwise than by instalments |
Mortgage |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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28.2.22 | 31.3.21 |
£ | £ |
Mortgage | 220,000 | 220,000 |
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A loan of £220,000 is secured against investment property. |
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9. | RESERVES |
Fair |
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reserve |
£ |
At 1 April 2021 |
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Reserve transfer | 40,500 |
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At 28 February 2022 |
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10. | RELATED PARTY DISCLOSURES |
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During the period the company borrowed £163,511 from a director. The balance outstanding at the end of the period was £173,275 (2021: £9,764). |
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The loan is included within creditors due within one year, is free of interest and is repayable on demand. |