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REGISTERED NUMBER: 08405320 (England and Wales)















C.S. ELLIS (HOLDINGS) LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4 to 6

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Statement of Financial Position 9

Company Statement of Financial Position 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Statement of Cash Flows 13

Notes to the Consolidated Statement of Cash Flows 14

Notes to the Consolidated Financial Statements 15 to 28


C.S. ELLIS (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: D J Clarke
Ms H E Cook
C S Ellis
T C Ellis





SECRETARY: C S Ellis





REGISTERED OFFICE: Wireless Hill
South Luffenham
Oakham
Rutland
LE15 8NF





REGISTERED NUMBER: 08405320 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023

The directors present their strategic report of the company and the group for the year ended 30 June 2023.

REVIEW OF BUSINESS
The Directors are pleased with what they consider to be an exceptionally good 90th year for the business. The three logistics related trading companies, C S Ellis Group Limited, Pacwolf Fulfilment Limited, Versatile Venues Limited all performed very well, securing new revenue streams and finding new ways to deliver the work efficiently.

The fourth trading company, Rutland Water Garden Nursery Limited, had a transitional year as it made a large investment in a new shop and restaurant on the south shore of Rutland Water. Whilst this impacted the results the enhanced site is now open and trading strongly.

On the last day of the financial year the trade and assets of the warehousing and fulfilment company, Pacwolf Fulfilment Limited, were transferred to CS Ellis (Group) Limited, incorporating both trading operations under a new ‘C S Ellis Logistics’ brand. This change was to ensure customers were provided with the best collective service offering, bringing the knowledge and experience from both businesses together as one efficient and cohesive entity.

The overall effect on turnover for the year was an consistent £27.4m to £27.4m, a 0% rise. The gross profit margin increased from 26.8% to 27.7%. Overheads saw a natural increase as a result of the growth, particularly in salaries as a result of the investment in people and due to inflationary impacts. With no revaluation movements this year net margin fell from 6.9% to 4.7%.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors have assessed the main risks facing the group as the adherence to best health and safety practices, along with recruiting and retaining staff and the volatility in both energy and fuel prices. These have all been reviewed and carefully managed with strong focuses from the management, facilities and HR teams.

ON BEHALF OF THE BOARD:





C S Ellis - Director


2 January 2024

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

DIVIDENDS
Interim dividends amounting to £251,000 (2021 - £140,000) were paid during the year between January and June 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

D J Clarke
Ms H E Cook
C S Ellis
T C Ellis

GOING CONCERN
The Directors consider that the Group has adequate resources to continue in operational existence for the foreseeable future. Cash has remained in a good position throughout the year and forecasts demonstrate there is sufficient headroom to continue operating for at least one year from approval of the financial statements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C S Ellis - Director


2 January 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C.S. ELLIS (HOLDINGS) LIMITED

Opinion
We have audited the financial statements of C.S. Ellis (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C.S. ELLIS (HOLDINGS) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C.S. ELLIS (HOLDINGS) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with directors and other management obtained as part of the work required by auditing standards. We have also discussed with the directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws and regulations as part of our financial statements audit. This included the identification and testing of unusual material journal entries and challenging management on key areas of uncertainty being the estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations, Haulage and operator regulations and Employment laws. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection. This inspection included a review of the external audits conducted in the year, confirmation of renewed relevant memberships and licenses and a detailed walkthrough of Health and Safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statements items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, international omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alistair Main FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

4 January 2024

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

TURNOVER 3 27,487,649 27,365,927

Cost of sales 19,863,844 20,056,742
GROSS PROFIT 7,623,805 7,309,185

Administrative expenses 6,164,151 6,441,509
OPERATING PROFIT 5 1,459,654 867,676

Income from fixed asset investments 11,892 19,110
1,471,546 886,786
Gain/loss on revaluation of investment property - 1,163,750
1,471,546 2,050,536

Interest payable and similar expenses 6 195,725 162,559
PROFIT BEFORE TAXATION 1,275,821 1,887,977

Tax on profit 7 159,496 540,054
PROFIT FOR THE FINANCIAL YEAR 1,116,325 1,347,923
Profit attributable to:
Owners of the parent 1,089,380 1,335,127
Non-controlling interests 26,945 12,796
1,116,325 1,347,923

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,116,325 1,347,923


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,116,325 1,347,923

Total comprehensive income attributable to:
Owners of the parent 1,089,380 1,335,127
Non-controlling interests 26,945 12,796
1,116,325 1,347,923

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 237,513 280,699
Tangible assets 11 14,581,723 11,534,507
Investments 12
Interest in joint venture - 1
Other investments 528,959 528,959
Investment property 13 4,177,542 4,200,599
19,525,737 16,544,765

CURRENT ASSETS
Stocks 14 440,495 459,358
Debtors 15 4,849,822 6,804,781
Cash at bank and in hand 801,466 1,576,042
6,091,783 8,840,181
CREDITORS
Amounts falling due within one year 16 6,343,995 7,123,589
NET CURRENT (LIABILITIES)/ASSETS (252,212 ) 1,716,592
TOTAL ASSETS LESS CURRENT LIABILITIES 19,273,525 18,261,357

CREDITORS
Amounts falling due after more than one year 17 (3,247,309 ) (3,336,726 )

PROVISIONS FOR LIABILITIES 21 (1,635,613 ) (1,384,353 )
NET ASSETS 14,390,603 13,540,278

CAPITAL AND RESERVES
Called up share capital 22 12,780 12,780
Revaluation reserve 23 337,516 337,516
Capital redemption reserve 23 3,043 3,043
Retained earnings 23 14,022,372 13,183,992
SHAREHOLDERS' FUNDS 14,375,711 13,537,331

NON-CONTROLLING INTERESTS 14,892 2,947
TOTAL EQUITY 14,390,603 13,540,278

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2024 and were signed on its behalf by:





C S Ellis - Director


C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

COMPANY STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 188,942 -
Investments 12 966,588 966,588
Investment property 13 13,334,058 13,357,115
14,489,588 14,323,703

CURRENT ASSETS
Debtors 15 4,960,801 2,486,564
Cash at bank and in hand 53,459 726,788
5,014,260 3,213,352
CREDITORS
Amounts falling due within one year 16 3,640,960 1,929,313
NET CURRENT ASSETS 1,373,300 1,284,039
TOTAL ASSETS LESS CURRENT LIABILITIES 15,862,888 15,607,742

CREDITORS
Amounts falling due after more than one year 17 (1,735,403 ) (1,829,597 )

PROVISIONS FOR LIABILITIES 21 (1,145,908 ) (1,133,383 )
NET ASSETS 12,981,577 12,644,762

CAPITAL AND RESERVES
Called up share capital 22 12,780 12,780
Retained earnings 23 12,968,797 12,631,982
SHAREHOLDERS' FUNDS 12,981,577 12,644,762

Company's profit for the financial year 587,815 1,406,729

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2024 and were signed on its behalf by:





C S Ellis - Director


C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 July 2021 12,780 11,988,865 337,516

Changes in equity
Dividends - (140,000 ) -
Total comprehensive income - 1,335,127 -
Balance at 30 June 2022 12,780 13,183,992 337,516

Changes in equity
Dividends - (251,000 ) -
Total comprehensive income - 1,089,380 -
Balance at 30 June 2023 12,780 14,022,372 337,516
Capital
redemption Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 July 2021 3,043 12,342,204 (9,849 ) 12,332,355

Changes in equity
Dividends - (140,000 ) - (140,000 )
Total comprehensive income - 1,335,127 12,796 1,347,923
Balance at 30 June 2022 3,043 13,537,331 2,947 13,540,278

Changes in equity
Dividends - (251,000 ) (15,000 ) (266,000 )
Total comprehensive income - 1,089,380 26,945 1,116,325
Balance at 30 June 2023 3,043 14,375,711 14,892 14,390,603

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 12,780 11,365,253 11,378,033

Changes in equity
Dividends - (140,000 ) (140,000 )
Total comprehensive income - 1,406,729 1,406,729
Balance at 30 June 2022 12,780 12,631,982 12,644,762

Changes in equity
Dividends - (251,000 ) (251,000 )
Total comprehensive income - 587,815 587,815
Balance at 30 June 2023 12,780 12,968,797 12,981,577

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,156,963 2,009,438
Interest paid (165,655 ) (127,809 )
Interest element of hire purchase payments paid (30,070 ) (34,750 )
Tax paid - (126,469 )
Taxation refund 71,928 -
Net cash from operating activities 4,033,166 1,720,410

Cash flows from investing activities
Purchase of tangible fixed assets (4,017,067 ) (2,687,069 )
Purchase of investment property - (7,506 )
Sale of tangible fixed assets 239,471 587,479
Dividends received 11,892 19,110
Net cash from investing activities (3,765,704 ) (2,087,986 )

Cash flows from financing activities
New loans in year - 1,157,245
Loan repayments in year (422,595 ) (320,469 )
Capital repayments in year (371,008 ) (565,575 )
Amount introduced by directors 2,985 -
Amount withdrawn by directors (420 ) -
Equity dividends paid (251,000 ) (140,000 )
Net cash from financing activities (1,042,038 ) 131,201

Decrease in cash and cash equivalents (774,576 ) (236,375 )
Cash and cash equivalents at beginning of year 2 1,576,042 1,812,417

Cash and cash equivalents at end of year 2 801,466 1,576,042

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit for the financial year 1,116,325 1,347,923
Depreciation charges 1,604,317 1,792,580
Profit on disposal of fixed assets (226,063 ) (286,068 )
Gain on revaluation of fixed assets - (1,163,750 )
Amortisation 43,186 43,186
Finance costs 195,725 162,559
Finance income (11,892 ) (19,110 )
Taxation 159,496 540,054
2,881,094 2,417,374
Decrease/(increase) in stocks 18,863 (167,367 )
Decrease/(increase) in trade and other debtors 1,948,416 (264,173 )
(Decrease)/increase in trade and other creditors (691,410 ) 23,604
Cash generated from operations 4,156,963 2,009,438

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 801,466 1,576,042
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 1,576,042 1,812,417


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.7.22 Cash flow changes At 30.6.23
£    £    £    £   
Net cash
Cash at bank
and in hand 1,576,042 (774,576 ) 801,466
1,576,042 (774,576 ) 801,466
Debt
Finance leases (1,101,784 ) 371,008 (756,878 ) (1,487,654 )
Debts falling due
within 1 year (1,176,446 ) 61,286 - (1,115,160 )
Debts falling due
after 1 year (2,635,095 ) 361,309 - (2,273,786 )
(4,913,325 ) 793,603 (756,878 ) (4,876,600 )
Total (3,337,283 ) 19,027 (756,878 ) (4,075,134 )

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

C.S. Ellis (Holdings) 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Directors consider that the Group has adequate resources to continue in operational existence for the foreseeable future. Cash has remained in a good position throughout the year and forecasts demonstrate there is sufficient headroom to continue operating for at least one year from approval of the financial statements.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The Group and Parent Company make estimates and assumptions concerning the future. The Directors are also required to exercise judgement in the process of applying the Group's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
In preparing these financial statements, the Directors have made the following judgements:

Property valuation

The Directors make judgements with regards to the market value of the property held for investment. A combination of factors are considered in determining this value including property yields, relevant price indices and levels of economic uncertainty, alongside application of the Directors industry knowledge. The proportion of the mixed use property is calculated based on estimated floor space.

Other sources of estimation uncertainty are as follows:

- Insurance provisions are based on amounts expected to be paid out in respect of insurance claims
- Bad debt provision is reviewed on a client by client basis and estimated based on the likelihood of debt being recovered.
- Depreciation and amortisation rates are based on estimates of the useful economic lives and residual values of the assets involved.

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from haulage and freight transport services is recognised in the period in which the services are provided.

Goods sales are recognised when ownership of the goods passes.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the consolidated profit and loss account over its useful economic life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on cost and 4% on cost
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful economic lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive income.

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.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the Statement of Comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issues costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 27,263,153 27,075,971
Europe 224,496 289,956
27,487,649 27,365,927

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 7,899,051 7,718,011
Social security costs 444,899 442,372
Other pension costs 118,750 106,313
8,462,700 8,266,696

The average number of employees during the year was as follows:
2023 2022

Haulage and storage 147 164
Administration 68 74
Nursery 32 33
247 271

The average number of employees by undertakings that were proportionately consolidated during the year was 246 (2022 - NIL ) .

2023 2022
£    £   
Directors' remuneration 425,097 461,112
Directors' pension contributions to money purchase schemes 43,930 25,421

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 155,295 166,078
Pension contributions to money purchase schemes 16,317 11,346

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 1,561,129 1,792,580
Profit on disposal of fixed assets (226,063 ) (249,072 )
Goodwill amortisation 43,186 43,186
Auditors' remuneration 27,750 28,500
Auditors' remuneration for non audit work - 20,006
Foreign exchange differences (458 ) (31,109 )
Operating lease rentals 294,528 294,528

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 165,655 127,809
Hire purchase interest 30,070 34,750
195,725 162,559

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax - 62,249
Adjustment re previous years (91,764 ) (98,955 )
Total current tax (91,764 ) (36,706 )

Deferred tax 251,260 576,760
Tax on profit 159,496 540,054

UK corporation tax has been charged at 25 % .

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,275,821 1,887,977
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2022 -
19 %)

318,955

358,716

Effects of:
Expenses not deductible for tax purposes - 60,530
Depreciation in excess of capital allowances - 13,397
Utilisation of tax losses - 11,422
Adjustments to tax charge in respect of previous periods (91,764 ) (98,955 )
Changes to tax rates (57,412 ) 95,592
Deferred tax not recognised - 122,626
Other timing differences (10,283 ) (23,274 )
Total tax charge 159,496 540,054

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2023 2022
£    £   
Ordinary A shares of 1 each
Interim 251,000 140,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 431,845
AMORTISATION
At 1 July 2022 151,146
Amortisation for year 43,186
At 30 June 2023 194,332
NET BOOK VALUE
At 30 June 2023 237,513
At 30 June 2022 280,699

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 July 2022 9,138,206 1,192,093 5,765,326
Additions 2,650,404 1,603 444,895
Disposals - - (1,042,337 )
Reclassification/transfer - - (316,588 )
At 30 June 2023 11,788,610 1,193,696 4,851,296
DEPRECIATION
At 1 July 2022 1,779,896 737,807 4,900,454
Charge for year 9,107 73,466 435,963
Eliminated on disposal - - (994,162 )
Reclassification/transfer - - (338,337 )
At 30 June 2023 1,789,003 811,273 4,003,918
NET BOOK VALUE
At 30 June 2023 9,999,607 382,423 847,378
At 30 June 2022 7,358,310 454,286 864,872

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 - 7,696,556 521,254 24,313,435
Additions 304,720 1,363,481 8,842 4,773,945
Disposals - (1,551,018 ) (117,473 ) (2,710,828 )
Reclassification/transfer - - (94,650 ) (411,238 )
At 30 June 2023 304,720 7,509,019 317,973 25,965,314
DEPRECIATION
At 1 July 2022 - 4,921,709 439,062 12,778,928
Charge for year 44,869 918,093 56,574 1,538,072
Eliminated on disposal - (1,410,537 ) (117,473 ) (2,522,172 )
Reclassification/transfer - - (72,900 ) (411,237 )
At 30 June 2023 44,869 4,429,265 305,263 11,383,591
NET BOOK VALUE
At 30 June 2023 259,851 3,079,754 12,710 14,581,723
At 30 June 2022 - 2,774,847 82,192 11,534,507

The net book value of assets held under hire purchase contracts, included above, is £1,749,099 (2022 £1,311,620)

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. TANGIBLE FIXED ASSETS - continued

Company
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 - 61,500 61,500
Additions 188,942 - 188,942
At 30 June 2023 188,942 61,500 250,442
DEPRECIATION
At 1 July 2022
and 30 June 2023 - 61,500 61,500
NET BOOK VALUE
At 30 June 2023 188,942 - 188,942
At 30 June 2022 - - -

12. FIXED ASSET INVESTMENTS

Group
Interest
in joint Unlisted
venture investments Totals
£    £    £   
COST
At 1 July 2022 1 528,959 528,960
Disposals (1 ) - (1 )
At 30 June 2023 - 528,959 528,959
NET BOOK VALUE
At 30 June 2023 - 528,959 528,959
At 30 June 2022 1 528,959 528,960
Company
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 966,588
NET BOOK VALUE
At 30 June 2023 966,588
At 30 June 2022 966,588

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

C.S.Ellis (Group) Limited
Registered office:
Nature of business: Transport and haulage
%
Class of shares: holding
Ordinary 100.00

Pacwolf Fulfilment
Registered office:
Nature of business: Warehouse and storage
%
Class of shares: holding
Ordinary 100.00

Versatile Venues Limited
Registered office:
Nature of business: Hire of exhibition trailers
%
Class of shares: holding
Ordinary 85.00

Multum Gin Parvo Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Rutland Water Garden Nursery Limited
Registered office:
Nature of business: Garden Centre
%
Class of shares: holding
Ordinary 100.00


Included in the above are investments held at valuation amounting to £519,960 (2022 - £519,960), the original cost of these investments was £112,750 (2022 - £112,750).

The registered office of the subsidiary undertakings is Wireless Hill, South Luffenham, Oakham, Rutland, LE15 8NF.

Rutland Water Garden Nursery Limited and Pacwolf Fulfilment Limited are exempt from the requirements to obtain an audit of its financial statements by virtue of section 479A of the Companies Act 2006. C. S Ellis (Holdings) Limited guarantees the liabilities of Rutland Water Garden Nursery Limited and Pacwolf Fulfilment Limited under section 479C of the Companies Act 2006 in respect of the financial year ended 30 June 2023.

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 4,200,599
DEPRECIATION
Charge for year 23,057
At 30 June 2023 23,057
NET BOOK VALUE
At 30 June 2023 4,177,542
At 30 June 2022 4,200,599

The 2022 valuations were made by the Directors, on an open market value for existing use basis. The historical cost of the freehold investment property amounts to £1,869,384 (2022 - £1,8698,384).

Company
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 13,357,115
DEPRECIATION
Charge for year 23,057
At 30 June 2023 23,057
NET BOOK VALUE
At 30 June 2023 13,334,058
At 30 June 2022 13,357,115

The 2022 valuations were made by the Directors, on an open market value for existing use basis. The historical cost of the freehold investment property amounts to £7,526,131 (2022 - £7,526,131).

14. STOCKS

Group
2023 2022
£    £   
Stocks 440,495 459,358

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 3,812,296 5,179,081 54,000 -
Amounts owed by group undertakings - - 4,746,950 2,341,065
Amounts owed by joint ventures - 48,750 - 48,750
Other debtors 193,279 164,737 50,000 95,594
Directors' current accounts 420 - - -
VAT - - 109,851 -
Prepayments and accrued income 843,827 1,412,213 - 1,155
4,849,822 6,804,781 4,960,801 2,486,564

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 18) 1,115,160 1,176,446 963,775 1,075,171
Hire purchase contracts (see note 19) 514,131 400,153 32,457 -
Trade creditors 1,809,062 2,737,694 929 413
Amounts owed to group undertakings - - 2,498,497 692,791
Amounts owed to joint ventures - 28,524 - 28,273
Taxation 10,248 1,531 10,248 -
Other taxes and social security 277,119 430,761 - 5,447
VAT 104,491 309,019 - -
Other creditors 765,350 90,474 70,357 -
Directors' current accounts 2,985 - - -
Accruals and deferred income 1,745,449 1,948,987 64,697 127,218
6,343,995 7,123,589 3,640,960 1,929,313

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Included within other creditors are amounts due under an invoice financing facility amounting to £449,917 (2022 £388,247).

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 18) 2,273,786 2,635,095 1,605,576 1,829,597
Hire purchase contracts (see note 19) 973,523 701,631 129,827 -
3,247,309 3,336,726 1,735,403 1,829,597

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 1,115,160 1,176,446 963,775 1,075,171
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,115,161 311,910 963,776 207,555
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,158,625 2,323,185 641,800 1,622,042

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 514,131 400,153
Between one and five years 973,523 701,631
1,487,654 1,101,784

Company
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 32,457 -
Between one and five years 129,827 -
162,284 -

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 345,887 411,000
Between one and five years 166,327 370,000
512,214 781,000

20. SECURED DEBTS

Obligations under hire purchase contracts are secured on the assets to which they relate.

Bank loans are secured by a fixed and floating charge over the assets of the Company.

Amounts due under an invoice financing facility are secured against the trade debtors of the Company.

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

21. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax
Accelerated capital allowances 877,583 619,886 114,409 101,884
Other timing differences (40,081 ) (35,017 ) - -
Losses (3,687 ) - - -
Unrealised gains 801,798 799,484 1,031,499 1,031,499
1,635,613 1,384,353 1,145,908 1,133,383

Group
Deferred
tax
£   
Balance at 1 July 2022 1,384,353
Provided during year 251,260
Balance at 30 June 2023 1,635,613

Company
Deferred
tax
£   
Balance at 1 July 2022 1,133,383
Provided during year 12,525
Balance at 30 June 2023 1,145,908

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,518 Ordinary A 1 6,518 6,518
4,984 Ordinary B 1 4,984 4,984
1,278 Ordinary C 1 1,278 1,278
12,780 12,780

23. RESERVES

Group
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 July 2022 13,183,992 337,516 3,043 13,524,551
Profit for the year 1,089,380 1,089,380
Dividends (251,000 ) (251,000 )
At 30 June 2023 14,022,372 337,516 3,043 14,362,931

C.S. ELLIS (HOLDINGS) LIMITED (REGISTERED NUMBER: 08405320)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

23. RESERVES - continued

Company
Retained
earnings
£   

At 1 July 2022 12,631,982
Profit for the year 587,815
Dividends (251,000 )
At 30 June 2023 12,968,797

Revaluation reserve

The revaluation reserve represents the cumulative increases in the fair value of freehold land and buildings.

Other reserves
Other reserves is made up of amounts attributable to the capital redemption reserve.

Profit & loss account
The profit and loss account represents the cumulative profits and losses of the Parent Company/Group.

24. PENSION COMMITMENTS

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £182,145 (2022 £160,121). Contributions totalling £14,751 (2022 - £13,316) were payable to the fund at the balance sheet date and are included within creditors.

25. CONTINGENT LIABILITIES

The Company is a party to a cross guarantee with C S Ellis (Holdings) Limited, Versatile Venues Limited, and Pacwolf Fulfilment Limited, relating to certain debt facilities.

On 15 April 2021 there was an incident involving a roofing contractor working on site which tragically led to a fatality. As such, there are ongoing external investigations. The outcome and timeframe of any potential liability is unknown and cannot be estimated with reliable certainty at the date of approval of these financial statements.

26. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2023 2022
£    £   
Sales 219,300 245,509
Purchases 4,740 -
Amount due from related party 1,135,622 1,365,233

Other related parties
2023 2022
£    £   
Sales 1,946,548 636,927
Purchases 3,111,535 890,569
Amount due from related party 410,617 53,847
Amount due to related party 599,679 47,017

27. ULTIMATE CONTROLLING PARTY

The controlling party is T C Ellis.