Elmbury Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10042164 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2018

for

Elmbury Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Chandler

Mrs A J Clark

Mrs W R Odell

REGISTERED OFFICE:

Goodridge Court

Goodridge Avenue

Quedgeley

Gloucestershire

GL2 5EN

REGISTERED NUMBER:

10042164 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Investments

4

978

510,000

Investment property

5

475,421

-

476,399

510,000

CURRENT ASSETS

Debtors

6

797

-

Cash at bank

553,699

1,001,821

554,496

1,001,821

CREDITORS

Amounts falling due within one year

7

6,878

470,258

NET CURRENT ASSETS

547,618

531,563

TOTAL ASSETS LESS CURRENT LIABILITIES

1,024,017

1,041,563

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Share premium

-

1,083,250

Retained earnings

1,014,017

(51,687

)

SHAREHOLDERS' FUNDS

1,024,017

1,041,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 10 December 2018 and were signed on its behalf by:

C R Chandler - Director

1.	STATUTORY INFORMATION

Elmbury Properties Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Investments in associates

Investments in associate undertakings are recognised at cost less any provision for impairment.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party

to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised

cost using the effective interest method 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset

expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership

to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group

companies and preference shares 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. Trade creditors are classified as current liabilities if payment is due

within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors

are recognised initially at transaction price and subsequently measured at amortised cost using the

effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged,

cancelled, or they expire.

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 1 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

subsidiary

£

COST

At 1 April 2017

and 31 March 2018

1,098,720

PROVISIONS

At 1 April 2017

588,720

Impairments

509,022

At 31 March 2018

1,097,742

NET BOOK VALUE

At 31 March 2018

978

At 31 March 2017

510,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

475,421

At 31 March 2018

475,421

NET BOOK VALUE

At 31 March 2018

475,421

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

95

-

Other debtors

702

-

797

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Taxation and social security

-

983

Other creditors

6,878

469,275

6,878

470,258

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

10,000

Ordinary

£1

10,000

10,000