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REGISTERED NUMBER: 00852320 (England and Wales)















C. S. ELLIS (GROUP) LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4 to 6

Income Statement 7

Other Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11 to 20


C. S. ELLIS (GROUP) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







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





SECRETARY: C S Ellis





REGISTERED OFFICE: Wireless Hill
South Luffenham
Oakham
Leicestershire.
LE15 8NF





REGISTERED NUMBER: 00852320 (England and Wales)





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

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023

The directors present their strategic report 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 first half of the year was focussed satisfying the continuing high customer demand for transportation services whilst maintaining the momentum on finding efficiencies within the cost base. The second half of the year particularly provided many challenges with the high electricity costs and a changing of the customer base leading to a flattening of revenue but overall the company maintained its robust financial position.

On the last day of the financial year the trade and assets of the warehousing and fulfilment sister 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 a small decrease from £16.2m to £15.1m, a 6.8% decrease. Conversely, with the efficiencies made the gross profit margin saw an upswing from 23.5% to 28.3%. Overheads remained well controlled, increasing slightly from £3.6m to £3.7m.

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 (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023

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

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2023.

FUTURE DEVELOPMENTS
The company continues to invest in people and infrastructure with a view to retaining their long term competitiveness. Current projects across the companies include building, IT systems and solar panels.

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
S J Gray

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company'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 (GROUP) LIMITED

Opinion
We have audited the financial statements of C. S. Ellis (Group) Limited (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 company's affairs as at 30 June 2023 and of its 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 company 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 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 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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.

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


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 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 company or to cease operations, or have no realistic alternative but to do so.

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.

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


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 (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

TURNOVER 3 15,121,001 16,184,276

Cost of sales 10,857,641 12,400,694
GROSS PROFIT 4,263,360 3,783,582

Administrative expenses 3,703,909 3,615,352
OPERATING PROFIT 5 559,451 168,230

Income from fixed asset investments 11,892 19,110
571,343 187,340

Interest payable and similar expenses 6 85,896 68,233
PROFIT BEFORE TAXATION 485,447 119,107

Tax on profit 7 39,867 (4,487 )
PROFIT FOR THE FINANCIAL YEAR 445,580 123,594

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 445,580 123,594


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 445,580 123,594

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 2,652,731 2,534,447
Investments 9 528,959 528,960
3,181,690 3,063,407

CURRENT ASSETS
Stocks 10 53,177 74,755
Debtors 11 8,236,000 6,406,548
Cash at bank and in hand 470,274 409,809
8,759,451 6,891,112
CREDITORS
Amounts falling due within one year 12 5,904,275 4,410,248
NET CURRENT ASSETS 2,855,176 2,480,864
TOTAL ASSETS LESS CURRENT LIABILITIES 6,036,866 5,544,271

CREDITORS
Amounts falling due after more than one year 13 (1,447,637 ) (1,507,129 )

PROVISIONS FOR LIABILITIES 17 (394,716 ) (288,209 )
NET ASSETS 4,194,513 3,748,933

CAPITAL AND RESERVES
Called up share capital 18 12,780 12,780
Capital redemption reserve 19 3,041 3,041
Retained earnings 19 4,178,692 3,733,112
SHAREHOLDERS' FUNDS 4,194,513 3,748,933

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 (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2021 12,780 3,609,518 3,041 3,625,339

Changes in equity
Total comprehensive income - 123,594 - 123,594
Balance at 30 June 2022 12,780 3,733,112 3,041 3,748,933

Changes in equity
Total comprehensive income - 445,580 - 445,580
Balance at 30 June 2023 12,780 4,178,692 3,041 4,194,513

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

1. STATUTORY INFORMATION

C. S. Ellis (Group) 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 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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.

The company has taken advantage of these exemptions under FRS 102 as the ultimate parent company C.S. Ellis (Holdings) Limited prepares consolidated accounts. A copy of these accounts can be obtained at Companies House.

Preparation of consolidated financial statements
The financial statements contain information about C. S. Ellis (Group) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, C S Ellis (Holdings) Limited, .

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.

Critical accounting judgements and key sources of estimation uncertainty
Some of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on the director's prior experiences and using their best knowledge of the relevant facts and circumstances. Actual results may differ from the amounts included in the financial statements. Information about such judgements and estimations is included in the accounting policies and/or notes to the accounts. The key areas are summarised below;

Judgements in applying accounting policies
- The directors must judge whether all of the conditions required for the turnover to be recognised in profit and loss for the financial year, as set out in revenue note, have been met.

Sources of estimation uncertainty
- 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.

Turnover
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.

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
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.

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful economic lives, using the straight-line method.

Depreciation is provided on the following basis;

Long term leasehold property improvements9% to 25% per annum straight line
Plant and machinery5-25% per annum straight line and reducing balance
Motor vehicles10% to 33% per annum straight line

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.

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.

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 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.


C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

2. ACCOUNTING POLICIES - continued
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 company operates a defined contribution pension scheme. Contributions payable to the company'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.

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 company.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 14,896,505 15,894,320
Europe 224,496 289,956
15,121,001 16,184,276

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 3,863,378 4,205,884
Social security costs 444,899 442,372
Other pension costs 112,571 106,313
4,420,848 4,754,569

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

4. EMPLOYEES AND DIRECTORS - continued

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

Haulage and storage 73 92
Administration 42 47
115 139

2023 2022
£    £   
Directors' remuneration 488,450 556,252
Directors' pension contributions to money purchase schemes 44,363 27,641

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

Money purchase schemes 5 5

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 739,231 839,722
Profit on disposal of fixed assets (91,336 ) (69,998 )
Auditors' remuneration 27,750 28,500
Auditors' remuneration for non audit work - 20,006
Foreign exchange differences (12 ) (31,789 )
Operating lease rentals 294,528 294,528

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 55,826 33,483
Hire purchase interest 30,070 34,750
85,896 68,233

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
Adjustments in respect of previous periods (41,787 ) (17,585 )
Payment for group relief 21,361 -
Total current tax (20,426 ) (17,585 )

Deferred tax 60,293 13,098
Tax on profit 39,867 (4,487 )

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge/(credit) 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 485,447 119,107
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2022 -
19%)

121,362

22,630

Effects of:
Expenses not deductible for tax purposes - 3,020
Income not taxable for tax purposes (2,519 ) -
Capital allowances in excess of depreciation (9,300 ) (9,392 )
Adjustments to tax charge in respect of previous periods (41,787 ) (17,585 )
Group relief - (9,699 )
Other timing differences (3,616 ) 6,539
Change in tax rates (24,273 ) -
Total tax charge/(credit) 39,867 (4,487 )

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

8. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2022 1,037,253 4,761,104 5,690,138 11,488,495
Additions - 44,061 732,851 776,912
Disposals - (993,228 ) (1,250,432 ) (2,243,660 )
Reclassification/transfer - 176,488 - 176,488
At 30 June 2023 1,037,253 3,988,425 5,172,557 10,198,235
DEPRECIATION
At 1 July 2022 732,160 4,417,893 3,803,995 8,954,048
Charge for year 67,538 173,869 497,824 739,231
Eliminated on disposal - (975,967 ) (1,171,808 ) (2,147,775 )
At 30 June 2023 799,698 3,615,795 3,130,011 7,545,504
NET BOOK VALUE
At 30 June 2023 237,555 372,630 2,042,546 2,652,731
At 30 June 2022 305,093 343,211 1,886,143 2,534,447

The net book value of assets held under hire purchase contracts, included above, is £1,560,157 (2022 £1,311,620)

9. FIXED ASSET INVESTMENTS
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

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

Joint venture

Ellis White's LLP
Registered office: England and Wales
Nature of business: Transport services
%
Class of shares: holding
Member 50.00

Ellis White LLP ceased trading in the year and distributed all remaining assets, therefore the investment has been disposed of in these financial statements.

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

10. STOCKS
2023 2022
£    £   
Stocks 53,177 74,755

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,238,054 3,353,212
Amounts owed by group undertakings 4,429,668 2,341,748
Other debtors 83,409 67,227
Prepayments and accrued income 484,869 644,361
8,236,000 6,406,548

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

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 14) 151,385 101,274
Hire purchase contracts (see note 15) 452,926 400,153
Trade creditors 1,555,935 1,877,480
Amounts owed to group undertakings 1,409,557 160,469
Other taxes and social security 196,100 177,611
VAT 214,342 309,019
Other creditors 564,136 930,834
Directors' current accounts 2,985 -
Accruals and deferred income 1,356,909 453,408
5,904,275 4,410,248

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).

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 14) 668,209 805,498
Hire purchase contracts (see note 15) 779,428 701,631
1,447,637 1,507,129

14. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 151,385 101,274

Amounts falling due between one and two years:
Bank loans - 1-2 years 151,385 104,355

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

14. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 516,824 701,143

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 452,926 400,153
Between one and five years 779,428 701,631
1,232,354 1,101,784

Non-cancellable operating leases
2023 2022
£    £   
Within one year 1,171,500 1,143,000
Between one and five years 3,040,803 3,298,000
In more than five years - 659,803
4,212,303 5,100,803

16. 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.

17. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 341,783 235,276
Other timing differences (35,017 ) (35,017 )
Unrealised gain on fixed asset 87,950 87,950
394,716 288,209

Deferred
tax
£   
Balance at 1 July 2022 288,209
Provided during year 60,293
Acquired from subsidiary 46,214
Balance at 30 June 2023 394,716

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12,780 Ordinary 1 12,780 12,780

19. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2022 3,733,112 3,041 3,736,153
Profit for the year 445,580 445,580
At 30 June 2023 4,178,692 3,041 4,181,733

Other reserves represent the nominal value of shares repurchased by the Company.

The profit and loss account represents the cumulative profits and losses of the Company.

20. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £112,572 (2022 £106,313). Contributions totalling £14,751 (2022 - £13,316) were payable to the fund at the balance sheet date and are included within creditors.

21. 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.

22. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2023 2022
£    £   
Sales 219,300 195,509
Purchases 4,740 -
Amount due from related party - 1,135,622

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

C. S. ELLIS (GROUP) LIMITED (REGISTERED NUMBER: 00852320)

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

23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T C Ellis.

The ultimate and immediate parent company is C. S. Ellis (Holdings) Limited, a Company incorporated and registered in England and Wales. The largest and smallest group in which the consolidated results of the Company are available is headed by C. S. Ellis (Holdings) Limited. Copies of its consolidated financial statements are available from Companies House.