| The Elmdene Partnership Limited |
| Registered number: |
08215225 |
| Balance Sheet |
| as at 30 June 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| as restated |
| Fixed assets |
| Tangible assets |
3 |
|
|
158,877 |
|
|
4,636 |
| Investments |
4 |
|
|
2,764,012 |
|
|
2,755,507 |
|
|
|
|
2,922,889 |
|
|
2,760,143 |
|
| Current assets |
| Debtors |
5 |
|
60,095 |
|
|
63,253 |
| Cash at bank and in hand |
|
|
66,618 |
|
|
9,655 |
|
|
|
126,713 |
|
|
72,908 |
|
| Creditors: amounts falling due within one year |
6 |
|
(104,772) |
|
|
(45,062) |
|
| Net current assets |
|
|
|
21,941 |
|
|
27,846 |
|
| Total assets less current liabilities |
|
|
|
2,944,830 |
|
|
2,787,989 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(2,610,846) |
|
|
(2,591,601) |
|
| Provisions for liabilities |
|
|
|
- |
|
|
(8,614) |
|
| Net assets |
|
|
|
333,984 |
|
|
187,774 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
333,884 |
|
|
187,674 |
|
| Shareholders' funds |
|
|
|
333,984 |
|
|
187,774 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| C Williams |
| Director |
| Approved by the board on 21 March 2023 |
|
| The Elmdene Partnership Limited |
| Notes to the Accounts |
| for the year ended 30 June 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
The results for the year ended 30 June 2021 were restated to record interest and dividend income as a component of turnover and to include the net gains /(losses) from investments within operating profit. There was no overall change in the profit for the year as a result of these amendments. The purpose of the restatement was to best reflect the dual purpose of the company as a provider of consultancy services and to make investments as stated in the company's principal activity included in the directors report. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services, dividend income received from investments and interest received from loan arrangements. Turnover from the rendering of services is recognised when the service is performed. Dividend income is recognised when dividends are declared and interest income is recognised on an accruals basis in accordance with the terms of the loan arrangement. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
over 3 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are recorded within net gains / losses on investment in the profit and loss account, net of any directly attributable expenses. |
|
|
Long term loans to participating interests and companies under common control are recorded in investments and accounted for in accordance with the debtors policy below. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and Buildings |
|
Office Equipment |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 July 2021 |
- |
|
6,427 |
|
6,427 |
|
Additions |
154,241 |
|
2,603 |
|
156,844 |
|
At 30 June 2022 |
154,241 |
|
9,030 |
|
163,271 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2021 |
- |
|
1,791 |
|
1,791 |
|
Charge for the year |
- |
|
2,603 |
|
2,603 |
|
At 30 June 2022 |
- |
|
4,394 |
|
4,394 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2022 |
154,241 |
|
4,636 |
|
158,877 |
|
At 30 June 2021 |
- |
|
4,636 |
|
4,636 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Investments |
|
|
Investments in |
Unlisted |
|
|
participating |
Loans |
investment |
|
|
interests |
(see below) |
funds |
Total |
|
|
At cost |
At cost |
At valuation |
| £ |
£ |
£ |
|
Cost |
|
At 1 July 2021 |
340,913 |
|
1,696,832 |
|
717,762 |
|
2,755,507 |
|
Additions |
- |
|
548,270 |
|
755,472 |
|
1,303,742 |
|
Revaluation |
- |
|
- |
|
(8,533) |
|
(8,533) |
|
Disposals |
- |
|
(1,128,000) |
|
(158,704) |
|
(1,286,704) |
|
At 30 June 2022 |
340,913 |
|
1,117,102 |
|
1,305,997 |
|
2,764,012 |
|
|
|
|
|
|
|
|
|
|
|
Loans comprise loans to participating interests and to companies under common control. |
|
|
During the year investments of £158,704 were sold resulting in a loss of £23,770. |
|
|
| 5 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
47,105 |
|
3,600 |
|
Deferred tax asset |
|
|
|
|
2,006 |
|
- |
|
Other debtors |
10,984 |
|
59,653 |
|
|
|
|
|
|
60,095 |
|
63,253 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
52,835 |
|
- |
|
Trade creditors |
- |
|
318 |
|
Taxation and social security costs |
48,081 |
|
43,870 |
|
Other creditors |
3,856 |
|
874 |
|
|
|
|
|
|
104,772 |
|
45,062 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Other creditors - Directors loan account |
2,610,846 |
|
2,591,601 |
|
|
|
|
|
|
2,610,846 |
|
2,591,601 |
|
|
|
|
|
|
|
|
|
|
The directors loan account balance is repayable on demand. However, this has been classified as falling due after one year as the director has confirmed he will not seek repayment in the foreseeable future. |
|
|
| 8 |
Controlling party |
|
|
The ultimate controlling party is Mr. C Williams, by virtue of his majority shareholding in the company. |
|
|
| 9 |
Other information |
|
|
The Elmdene Partnership Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
9 Park Place |
|
Newdigate Road |
|
Harefield |
|
Middlesex |
|
UB9 6EJ |
