IRIS Accounts Production v24.1.9.2 01874470 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018744702023-03-31018744702024-03-31018744702023-04-012024-03-31018744702022-03-31018744702022-04-012023-03-31018744702023-03-3101874470ns15:EnglandWales2023-04-012024-03-3101874470ns14:PoundSterling2023-04-012024-03-3101874470ns10:Director12023-04-012024-03-3101874470ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101874470ns10:SmallEntities2023-04-012024-03-3101874470ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3101874470ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101874470ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101874470ns10:FullAccounts2023-04-012024-03-3101874470ns10:Director22023-04-012024-03-3101874470ns10:Director32023-04-012024-03-3101874470ns10:CompanySecretary12023-04-012024-03-3101874470ns10:RegisteredOffice2023-04-012024-03-3101874470ns5:CurrentFinancialInstruments2024-03-3101874470ns5:CurrentFinancialInstruments2023-03-3101874470ns5:Non-currentFinancialInstruments2024-03-3101874470ns5:Non-currentFinancialInstruments2023-03-3101874470ns5:ShareCapital2024-03-3101874470ns5:ShareCapital2023-03-3101874470ns5:RetainedEarningsAccumulatedLosses2024-03-3101874470ns5:RetainedEarningsAccumulatedLosses2023-03-3101874470ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3101874470ns5:PlantMachinery2023-04-012024-03-3101874470ns5:MotorVehicles2023-04-012024-03-3101874470ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3101874470ns5:PlantMachinery2023-03-3101874470ns5:MotorVehicles2023-03-3101874470ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3101874470ns5:PlantMachinery2024-03-3101874470ns5:MotorVehicles2024-03-3101874470ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3101874470ns5:PlantMachinery2023-03-3101874470ns5:MotorVehicles2023-03-3101874470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101874470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101874470ns5:CurrentFinancialInstruments2023-04-012024-03-3101874470ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3101874470ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3101874470ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101874470ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101874470ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3101874470ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3101874470ns5:HirePurchaseContracts2024-03-3101874470ns5:HirePurchaseContracts2023-03-3101874470ns5:WithinOneYear2024-03-3101874470ns5:WithinOneYear2023-03-3101874470ns5:BetweenOneFiveYears2024-03-3101874470ns5:BetweenOneFiveYears2023-03-3101874470ns5:AllPeriods2024-03-3101874470ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 01874470 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

E.L.B. PARTNERS LIMITED

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


E.L.B. PARTNERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P C Eason
R Newman
D J Philpot





SECRETARY: P C Eason





REGISTERED OFFICE: Unit 18 Beddington Cross
136-138 Beddington Farm Road
Croydon
Surrey
CR0 4XH





REGISTERED NUMBER: 01874470 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,311,978 1,930,790

CURRENT ASSETS
Stocks 50,690 49,696
Debtors 5 1,569,643 1,701,464
Cash at bank 104,518 80,715
1,724,851 1,831,875
CREDITORS
Amounts falling due within one year 6 1,891,415 1,945,123
NET CURRENT LIABILITIES (166,564 ) (113,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,145,414

1,817,542

CREDITORS
Amounts falling due after more than one
year

7

(651,864

)

(640,437

)

PROVISIONS FOR LIABILITIES (545,896 ) (442,206 )
NET ASSETS 947,654 734,899

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 944,654 731,899
947,654 734,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





P C Eason - Director


E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

E.l.b. Partners 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is
the present value of the future receipts. The difference between the fair value of the consideration and the
nominal amount received is recognised as interest income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Over the term of the lease
Plant and machinery - 10% on reducing balance
Motor vehicles - 10%, 12.5% & 20% straight line

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement
cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks
over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or
loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.

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. Amounts 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 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.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation in the period are included in profit or loss.

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of
inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest
elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the
remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.
Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount
of the leased asset and recognised on a straight line basis over the lease term.

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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion
of the company.

Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are
subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in
profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which
event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative
fair value is recognised as a financial liability.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are
received.

Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2023 - 67 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 74,533 249,303 3,324,133 3,647,969
Additions - 4,813 866,577 871,390
Disposals - - (464,175 ) (464,175 )
At 31 March 2024 74,533 254,116 3,726,535 4,055,184
DEPRECIATION
At 1 April 2023 34,650 130,874 1,551,655 1,717,179
Charge for year 3,176 11,926 429,859 444,961
Eliminated on disposal - - (418,934 ) (418,934 )
At 31 March 2024 37,826 142,800 1,562,580 1,743,206
NET BOOK VALUE
At 31 March 2024 36,707 111,316 2,163,955 2,311,978
At 31 March 2023 39,883 118,429 1,772,478 1,930,790

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 855,253 1,061,768
Bad debt provision (2,985 ) (2,985 )
Amounts owed by group undertakings 169,393 113,234
Other debtors 15,075 18,000
Prepayments and accrued income 532,907 511,447
1,569,643 1,701,464

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 304,161 417,699
Other loans 26,499 26,499
Hire purchase contracts (see note 8) 560,006 447,403
Trade creditors 348,037 353,962
Tax 58,177 31,005
Social security and other taxes 53,251 54,510
Pension liability 16,892 16,215
VAT 225,514 217,862
Other creditors 50,113 49,769
Accruals and deferred income 248,765 290,199
Deferred income - 40,000
1,891,415 1,945,123

Bank overdraft and loans are secured by a fixed and floating charge over the company's assets and by
personal guarantee of P C Eason.

A further fixed and floating charge over the company's assets is held by Pallet Track Limited.

During 2021 the company obtained a Coronavirus Business Interruption Loan (CBILS) of £125,000. This is to
be repaid over a period of 5 years.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans - 1-2 years 4,416 28,707
Hire purchase contracts (see note 8) 647,448 611,730
651,864 640,437

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 560,006 447,403
Between one and five years 647,448 611,730
1,207,454 1,059,133

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 1,423 1,423
Between one and five years 1,231,181 1,654,061
1,232,604 1,655,484

9. RELATED PARTY DISCLOSURES

During the year dividends amounting to £212,057 (2023 - £267,972) were paid to ELB Logistics Limited, the
parent company.

As at the balance sheet date the company was owed £169,393 (2023: £113,234) from ELB Logistics
Limited, the parent company. This amount has been included on the balance sheet within other debtors.

E.L.B. PARTNERS LIMITED (REGISTERED NUMBER: 01874470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. PROFIT AND LOSS RESERVES

All amounts held in the profit and loss reserve are considered to be distributable reserves.