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REGISTERED NUMBER: 03116406 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EBBFIX LIMITED
TRADING AS
I.C. SYSTEMS

EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EBBFIX LIMITED
TRADING AS I.C. SYSTEMS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S N Watts
P Taylor





SECRETARY: S N Watts





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 03116406 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 167,866 200,543
167,866 200,543

CURRENT ASSETS
Stocks 243,898 192,614
Debtors 6 532,576 676,769
776,474 869,383
CREDITORS
Amounts falling due within one year 7 851,565 1,012,174
NET CURRENT LIABILITIES (75,091 ) (142,791 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,775

57,752

CREDITORS
Amounts falling due after more than one
year

8

(61,787

)

(114,952

)

PROVISIONS FOR LIABILITIES (30,581 ) (39,596 )
NET ASSETS/(LIABILITIES) 407 (96,796 )

CAPITAL AND RESERVES
Called up share capital 10 4,250 4,250
Retained earnings (3,843 ) (101,046 )
SHAREHOLDERS' FUNDS 407 (96,796 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





S N Watts - Director


EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

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

1. STATUTORY INFORMATION

Ebbfix 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continued financial support of the directors. The directors of the company have confirmed that this support will continue.

On the above basis, the directors consider that the going concern basis remains appropriate.

Turnover
Turnover represents net sale of manufactured goods and associated fitting charges recognised at point of delivery, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1995 and a business acquired in 2005, is being written off evenly over its estimated life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
During the year, the company has implemented automatic enrolment into a workplace pension scheme in relation to all employees.

All contributions payable for the year are charged to the profit & loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 75,516
AMORTISATION
At 1 January 2023
and 31 December 2023 75,516
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 880,058
Additions 37,303
Disposals (111,789 )
At 31 December 2023 805,572
DEPRECIATION
At 1 January 2023 679,515
Charge for year 43,298
Eliminated on disposal (85,107 )
At 31 December 2023 637,706
NET BOOK VALUE
At 31 December 2023 167,866
At 31 December 2022 200,543

The net book value of tangible fixed assets includes £ 63,357 (2022 - £ 108,354 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 389,154 521,453
Other debtors 143,422 155,316
532,576 676,769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 98,496 90,272
Hire purchase contracts 27,835 38,770
Trade creditors 212,574 269,029
Taxation and social security 98,325 151,081
Other creditors 414,335 463,022
851,565 1,012,174

EBBFIX LIMITED (REGISTERED NUMBER: 03116406)
TRADING AS I.C. SYSTEMS

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,500 28,270
Hire purchase contracts 43,287 86,682
61,787 114,952

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 88,726 80,463
Hire purchase contracts 71,122 125,452
Factoring loan 314,991 383,233
474,839 589,148

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4,250 Ordinary £1 4,250 4,250

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
S N Watts
Balance outstanding at start of year 73,601 58,949
Amounts advanced 66,238 48,552
Amounts repaid (59,500 ) (33,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 80,339 73,601