Elsmore Lettings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12551650 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ELSMORE LETTINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Mr T R Elsmore

Mr R B Elsmore

REGISTERED OFFICE:

Clarence House

Milford Road

Elstead

Surrey

GU8 6HP

REGISTERED NUMBER:

12551650 (England and Wales)

ACCOUNTANTS:

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

FIXED ASSETS

Tangible assets

4

1,390,000

1,390,000

CURRENT ASSETS

Cash at bank

2,666

3,000

CREDITORS

Amounts falling due within one year

5

12,877

32,674

NET CURRENT LIABILITIES

(10,211

)

(29,674

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,379,789

1,360,326

CREDITORS

Amounts falling due after more than one year

6

(1,243,186

)

(1,217,080

)

PROVISIONS FOR LIABILITIES

(26,600

)

(26,600

)

NET ASSETS

110,003

116,646

RESERVES

Fair value reserve

8

113,400

113,400

Retained earnings

(3,397

)

3,246

110,003

116,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:

Mr T R Elsmore - Director

1.	STATUTORY INFORMATION

Elsmore Lettings Ltd 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 January 2021

and 31 December 2021

1,390,000

NET BOOK VALUE

At 31 December 2021

1,390,000

At 31 December 2020

1,390,000

Cost or valuation at 31 December 2021 is represented by:

Land and

buildings

£

Valuation in 2020

140,000

Cost

1,250,000

1,390,000

The property was valued by Kempton Carr Croft an independent professionally qualified valuer.on 12 November 2020.

The directors' believe the residential property market is in a similar position therefore no revaluation in financial year.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,312

9,312

Taxation and social security

492

834

Other creditors

3,073

22,528

12,877

32,674

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

688,329

690,688

Amounts owed to group undertakings

449,857

306,392

Other creditors

105,000

220,000

1,243,186

1,217,080

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

697,641

700,000

The following legal charges were registered at Companies House:

Lloyds Bank PLC fixed and floating charge over the property and undertaking of the company. Charge no 1255 1650 0001.

Lloyds Bank PLC fixed and floating charge over the property at Armoury House, 13 Junction Place, Haslemere, GU27 1LE. Charge no 1255 1650 0002.

8.

RESERVES

Fair

value

reserve

£

At 1 January 2021

and 31 December 2021

113,400

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T R Elsmore.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elsmore Lettings Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Elsmore Lettings Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elsmore Lettings Ltd and state those matters that we have agreed to state to the Board of Directors of Elsmore Lettings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elsmore Lettings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elsmore Lettings Ltd. You consider that Elsmore Lettings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elsmore Lettings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

30 August 2022