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REGISTERED NUMBER: 07111211 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ELLISON WIRE PRODUCTS LIMITED

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELLISON WIRE PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S Hunter
M R Gardner



REGISTERED OFFICE: Unit 3 & 4
Bemrose Park
Wayzgoose Drive
Derby
DE21 6XG



REGISTERED NUMBER: 07111211 (England and Wales)



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



BANKERS: Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2 2
Tangible assets 6 551,834 615,897
551,836 615,899

CURRENT ASSETS
Stocks 570,959 675,742
Debtors 7 769,489 945,949
Cash at bank and in hand 59,929 207,208
1,400,377 1,828,899
CREDITORS
Amounts falling due within one year 8 2,291,857 2,088,279
NET CURRENT LIABILITIES (891,480 ) (259,380 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(339,644

)

356,519

CREDITORS
Amounts falling due after more than one
year

9

308,767

773,037
NET LIABILITIES (648,411 ) (416,518 )

CAPITAL AND RESERVES
Called up share capital 520,001 520,001
Revaluation reserve 11 132,397 146,458
Retained earnings 11 (1,300,809 ) (1,082,977 )
(648,411 ) (416,518 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M R Gardner - Director


ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

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

1. STATUTORY INFORMATION

Ellison Wire Products 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

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.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% 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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

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

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

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

3. ACCOUNTING POLICIES - continued

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.

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.

Going concern
The accounts are prepared on the going concern basis which assumes the business will continue to trade for the foreseeable future. At the financial year end the company had a net deficit of £648,411.The business made a loss for the financial year ended 30th November 2023 but is expected to become profitable thereafter. The company relies upon the continued support of SCJE Developments Limited, its parent company. In the opinion of the directors, it is correct to prepare the accounts on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 24 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 30,002
AMORTISATION
At 1 December 2022
and 30 November 2023 30,000
NET BOOK VALUE
At 30 November 2023 2
At 30 November 2022 2

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

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

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 11,547 1,180,873 1,192,420
Additions - 410 410
At 30 November 2023 11,547 1,181,283 1,192,830
DEPRECIATION
At 1 December 2022 11,547 564,976 576,523
Charge for year - 64,473 64,473
At 30 November 2023 11,547 629,449 640,996
NET BOOK VALUE
At 30 November 2023 - 551,834 551,834
At 30 November 2022 - 615,897 615,897

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 431,412
DEPRECIATION
At 1 December 2022 14,271
Charge for year 41,711
At 30 November 2023 55,982
NET BOOK VALUE
At 30 November 2023 375,430
At 30 November 2022 417,141

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 637,057 769,509
Other debtors 4,051 7,289
Tax - 29,146
Deferred tax asset 80,414 80,414
Prepayments and accrued income 47,967 59,591
769,489 945,949

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 44,444 60,001
Other loans 1,154,561 -
Hire purchase contracts 58,594 54,122
Trade creditors 400,713 474,740
Invoice discounting 537,931 624,143
Amounts owed to group undertakings - 388,917
Social security and other taxes 11,134 11,540
VAT 61,122 180,497
Other creditors 6,731 273,012
Accrued expenses 16,627 21,307
2,291,857 2,088,279

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 29,630 74,074
Hire purchase contracts 279,137 342,202
Amounts owed to group undertakings - 356,761
308,767 773,037

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Invoice discounting facility 537,931 624,143

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2022 (1,082,977 ) 146,458 (936,519 )
Deficit for the year (217,832 ) (217,832 )
Revaluation in the year - (14,061 ) (14,061 )
At 30 November 2023 (1,300,809 ) 132,397 (1,168,412 )

ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211)

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

12. RELATED PARTY DISCLOSURES

At 30 November 2023 the amount owed to JSJ Finance Ltd (a company with common directors) was £nil (2022 - £388,917). Interest was paid in the year totalling £nil (2022 - £73,411). There was also a trade creditor balance of £nil (2022 - £12,061).

At 30 November 2023 the amount owed to JSJ Partnership Ltd (a company with common directors) was £nil (2022 - £nil). During the year the company paid consultancy fees of £14,167 (2022 - £30,000) to JSJ Partnership Ltd (a company with common directors). There was also a trade creditor balance of £nil (2022 - £6,744).

Included within Other creditors (Note 9) is a loan due to Stephen Hunter of £nil (2022 - £264,378). This loan is repayable on demand. Interest is chargeable at 8% per annum.

Included within Loans is a loan due to SCJE Limited, a company that has Stephen Hunter as a director, of £1,154,561 (2022 - £nil). This loan is repayable on demand. Interest is chargeable at 8% per annum. Interest was paid in the year totalling £10,586.