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REGISTERED NUMBER: 00497147 (England and Wales)














ELLIS BROTHERS (IRONMONGERS) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






ELLIS BROTHERS (IRONMONGERS) LTD (REGISTERED NUMBER: 00497147)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


ELLIS BROTHERS (IRONMONGERS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr M H Taylor
Mrs A E M Taylor





REGISTERED OFFICE: 1 High Street
Rye
East Sussex
TN31 7JE





REGISTERED NUMBER: 00497147 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

ELLIS BROTHERS (IRONMONGERS) LTD (REGISTERED NUMBER: 00497147)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 883,101 899,818

CURRENT ASSETS
Debtors 5 364 272
Cash at bank 49,099 25,087
49,463 25,359
CREDITORS
Amounts falling due within one year 6 310,595 297,378
NET CURRENT LIABILITIES (261,132 ) (272,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,969

627,799

PROVISIONS FOR LIABILITIES 139,111 137,950
NET ASSETS 482,858 489,849

CAPITAL AND RESERVES
Called up share capital 7 14,349 14,349
Share premium 9,751 9,751
Revaluation reserve 549,741 549,741
Retained earnings (90,983 ) (83,992 )
SHAREHOLDERS' FUNDS 482,858 489,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 11 September 2023 and were signed on its behalf by:



Mr M H Taylor - Director


ELLIS BROTHERS (IRONMONGERS) LTD (REGISTERED NUMBER: 00497147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Ellis Brothers (Ironmongers) 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.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Fixtures and fittings - 20% on cost and 10% on reducing balance

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 2 (2022 - 2 ) .

ELLIS BROTHERS (IRONMONGERS) LTD (REGISTERED NUMBER: 00497147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 February 2022 750,000 285,685 4,407 - 1,040,092
Additions - - 5,230 1,041 6,271
At 31 January 2023 750,000 285,685 9,637 1,041 1,046,363
DEPRECIATION
At 1 February 2022 110,000 28,571 1,703 - 140,274
Charge for year 15,000 5,714 1,927 347 22,988
At 31 January 2023 125,000 34,285 3,630 347 163,262
NET BOOK VALUE
At 31 January 2023 625,000 251,400 6,007 694 883,101
At 31 January 2022 640,000 257,114 2,704 - 899,818

Cost or valuation at 31 January 2023 is represented by:

Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
Cost 750,000 285,685 9,637 1,041 1,046,363

The fall in value in 2017 is due to a partial disposal of the revalued property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 364 272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,186 1,560
Other creditors 308,409 295,818
310,595 297,378

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,249 Ordinary £1 10,249 10,249
4,100 Deferred £1 4,100 4,100
14,349 14,349