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REGISTERED NUMBER: 10662637 (England and Wales)










Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

For The Year Ended 31 December 2023

for

EBI Holdings Limited

EBI Holdings Limited (Registered number: 10662637)






Contents of the Consolidated Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


EBI Holdings Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: D Bailey
T H Heath
Ms N Prewett
L B Thomas





REGISTERED OFFICE: Adams Close
Heanor
Derbyshire
DE75 7SW





REGISTERED NUMBER: 10662637 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

EBI Holdings Limited (Registered number: 10662637)

Group Strategic Report
For The Year Ended 31 December 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

2023 posed a challenging year for the subsidiary, following unprecedented supply chain, energy and economic challenges across Europe in 2022.

The directors implemented successful changes across the supply chain and across the business to return to profitability in 2023. The directors look forward to ensuring the continued stability of the group by developing and reinforcing its position in its chosen business sector.

REVIEW OF BUSINESS
The principle activity of the group is that of one stop design, print and production of point of sale display.

The key financial highlights were as follows:-

2023 2022 2021 2020 2019

Turnover movement

+5%

-33%

+44%

-1%

+10%
Gross profit movement +30% -45% +55% -0.5% +17%
Profit/(Loss) before tax £46K (£630K ) £828K £429K £341K

PRINCIPAL RISKS AND UNCERTAINTIES
The group's markets are essentially those of one stop print design and production.

These markets continue to be subject to rigorous competition from other operators based both within the United Kingdom and elsewhere.

The group's aim is to compete in its chosen markets through the provision of quality services to its customers.

ON BEHALF OF THE BOARD:





D Bailey - Director


9 September 2024

EBI Holdings Limited (Registered number: 10662637)

Report of the Directors
For The Year Ended 31 December 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 was £3,076.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D Bailey
T H Heath
Ms N Prewett
L B Thomas

FINANCIAL INSTRUMENTS
The group's principal financial instruments comprise bank balances, trade creditors, trade debtors, finance lease agreements, and a holding company loan. The main purpose of these is to finance the group's operations.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining sufficient funds to forecasted requirements.

There is no interest levied on the holding company loan.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the group uses a mixture of long term and short term debt finance.
The group is a lessee in respect of the finance lease assets. The liquidity risk in respect of these is managed by ensuring that there are sufficient funds to meet the payments.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meeting amounts when falling due.

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.

EBI Holdings Limited (Registered number: 10662637)

Report of the Directors
For The Year Ended 31 December 2023


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.

ON BEHALF OF THE BOARD:





D Bailey - Director


9 September 2024

Report of the Independent Auditors to the Members of
EBI Holdings Limited

Opinion
We have audited the financial statements of EBI Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 31 December 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
EBI 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.

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:

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

Report of the Independent Auditors to the Members of
EBI Holdings Limited


The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety including COSHH, sales of goods legislation, customs & excise legislation, employment laws, GDPR and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

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. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

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.




Stephen Baily (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

9 September 2024

EBI Holdings Limited (Registered number: 10662637)

Consolidated
Income Statement
For The Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 3 7,912,833 7,526,702

Cost of sales 4,971,407 5,256,739
GROSS PROFIT 2,941,426 2,269,963

Administrative expenses 2,877,913 2,854,581
OPERATING PROFIT/(LOSS) 5 63,513 (584,618 )

Interest receivable and similar income 162 -
63,675 (584,618 )

Interest payable and similar expenses 6 17,841 45,722
PROFIT/(LOSS) BEFORE TAXATION 45,834 (630,340 )

Tax on profit/(loss) 7 (21,002 ) (273,227 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

66,836

(357,113

)
Profit/(loss) attributable to:
Owners of the parent 66,836 (357,113 )

EBI Holdings Limited (Registered number: 10662637)

Consolidated
Other Comprehensive Income
For The Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 66,836 (357,113 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

66,836

(357,113

)

Total comprehensive income attributable to:
Owners of the parent 66,836 (357,113 )

EBI Holdings Limited (Registered number: 10662637)

Consolidated Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 643,897 559,120
Investments 12 - -
643,897 559,120

CURRENT ASSETS
Stocks 13 709,288 826,045
Debtors 14 1,936,138 2,278,719
Cash at bank and in hand 82,941 30,854
2,728,367 3,135,618
CREDITORS
Amounts falling due within one year 15 1,656,923 2,100,424
NET CURRENT ASSETS 1,071,444 1,035,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,715,341

1,594,314

CREDITORS
Amounts falling due after more than one
year

16

(292,161

)

(280,124

)

PROVISIONS FOR LIABILITIES 20 (119,518 ) (74,288 )
NET ASSETS 1,303,662 1,239,902

CAPITAL AND RESERVES
Called up share capital 21 200,000 200,000
Retained earnings 22 1,103,662 1,039,902
SHAREHOLDERS' FUNDS 1,303,662 1,239,902

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





D Bailey - Director


EBI Holdings Limited (Registered number: 10662637)

Company Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 3,023,540 3,023,540
3,023,540 3,023,540

CURRENT ASSETS
Cash at bank 23 23

CREDITORS
Amounts falling due within one year 15 9,184 72,131
NET CURRENT LIABILITIES (9,161 ) (72,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,014,379

2,951,432

CREDITORS
Amounts falling due after more than one
year

16

2,034,233

1,980,836
NET ASSETS 980,146 970,596

CAPITAL AND RESERVES
Called up share capital 21 200,000 200,000
Retained earnings 780,146 770,596
SHAREHOLDERS' FUNDS 980,146 970,596

Company's profit/(loss) for the financial
year

12,626

(12,627

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





D Bailey - Director


EBI Holdings Limited (Registered number: 10662637)

Consolidated Statement of Changes in Equity
For The Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 200,000 1,403,015 1,603,015

Changes in equity
Dividends - (6,000 ) (6,000 )
Total comprehensive income - (357,113 ) (357,113 )
Balance at 31 December 2022 200,000 1,039,902 1,239,902

Changes in equity
Dividends - (3,076 ) (3,076 )
Total comprehensive income - 66,836 66,836
Balance at 31 December 2023 200,000 1,103,662 1,303,662

EBI Holdings Limited (Registered number: 10662637)

Company Statement of Changes in Equity
For The Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 200,000 789,223 989,223

Changes in equity
Dividends - (6,000 ) (6,000 )
Total comprehensive income - (12,627 ) (12,627 )
Balance at 31 December 2022 200,000 770,596 970,596

Changes in equity
Dividends - (3,076 ) (3,076 )
Total comprehensive income - 12,626 12,626
Balance at 31 December 2023 200,000 780,146 980,146

EBI Holdings Limited (Registered number: 10662637)

Consolidated Cash Flow Statement
For The Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 124,009 (526,104 )
Interest paid (9,060 ) (32,572 )
Interest element of hire purchase
payments paid

(8,781

)

(13,150

)
Tax paid 173,936 49,786
Net cash from operating activities 280,104 (522,040 )

Cash flows from investing activities
Purchase of tangible fixed assets (210,699 ) (71,190 )
Sale of tangible fixed assets 7,905 -
Interest received 162 -
Net cash from investing activities (202,632 ) (71,190 )

Cash flows from financing activities
Loan repayments in year (105,264 ) (105,263 )
Capital repayments in year 80,444 (115,918 )
Amount introduced by directors 3,081 6,000
Amount withdrawn by directors (570 ) (300,000 )
Equity dividends paid (3,076 ) (6,000 )
Net cash from financing activities (25,385 ) (521,181 )

Increase/(decrease) in cash and cash equivalents 52,087 (1,114,411 )
Cash and cash equivalents at
beginning of year

2

30,854

1,145,265

Cash and cash equivalents at end of
year

2

82,941

30,854

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit/(loss) before taxation 45,834 (630,340 )
Depreciation charges 125,922 132,906
Profit on disposal of fixed assets (7,905 ) -
Finance costs 17,841 45,722
Finance income (162 ) -
181,530 (451,712 )
Decrease/(increase) in stocks 116,757 (103,095 )
Decrease/(increase) in trade and other debtors 234,877 (815,196 )
(Decrease)/increase in trade and other creditors (409,155 ) 843,899
Cash generated from operations 124,009 (526,104 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 82,941 30,854
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 30,854 1,145,265


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 30,854 52,087 82,941
30,854 52,087 82,941
Debt
Finance leases (94,312 ) (80,444 ) (174,756 )
Debts falling due within 1 year (105,263 ) - (105,263 )
Debts falling due after 1 year (184,211 ) 105,264 (78,947 )
(383,786 ) 24,820 (358,966 )
Total (352,932 ) 76,907 (276,025 )

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

EBI 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.

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.
Improvements to property - over the period of the lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs incurred in bringing each product to its present location and condition.

Raw materials and finished goods are valued on an average cost basis by dividing the total purchase price of each line of stock by the number of units.

Work in progress is valued on the basis of cost of direct materials and labour plus attributable overheads based on a normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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. 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 trade and other 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

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 trade and other creditors, and loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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 balance sheet date.


EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated 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
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange at the date of transaction. Exchange rate differences are taken to the profit and loss account.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

3. TURNOVER

The turnover and profit (2022 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

31.12.23 31.12.22
£    £   
United Kingdom 7,110,047 7,037,584
Europe 54,794 25,976
United States of America 687,605 410,134
Asia 14,405 14,489
Rest of World 45,982 38,519
7,912,833 7,526,702

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,438,450 2,543,552
Social security costs 231,577 255,454
Other pension costs 90,903 108,396
2,760,930 2,907,402

The average number of employees during the year was as follows:
31.12.23 31.12.22

Administration 13 14
Selling 10 11
Manufacturing 64 72
87 97

The average number of employees by undertakings that were proportionately consolidated during the year was 87 (2022 - 97 ) .

31.12.23 31.12.22
£    £   
Directors' remuneration 414,533 412,734
Directors' pension contributions to money purchase schemes 21,898 34,412

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

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 116,245 115,326
Pension contributions to money purchase schemes 6,364 10,001

5. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Hire of plant and machinery 148,251 151,602
Depreciation - owned assets 107,199 110,880
Depreciation - assets on hire purchase contracts 18,723 22,026
Profit on disposal of fixed assets (7,905 ) -
Auditors' remuneration 16,500 17,250
Foreign exchange differences (37,918 ) (64,553 )

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest - 220
Bank loan interest 21,691 19,729
Other loan interest (12,631 ) 12,623
Hire purchase 8,781 13,150
17,841 45,722

7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax (66,232 ) (173,936 )
Overprovision in prior year - (71,996 )
Total current tax (66,232 ) (245,932 )

Deferred tax 45,230 (27,295 )
Tax on profit/(loss) (21,002 ) (273,227 )

Reconciliation of total tax 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:

31.12.23 31.12.22
£    £   
Profit/(loss) before tax 45,834 (630,340 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25 % (2022 - 19 %)

11,459

(119,765

)

Effects of:
Expenses not deductible for tax purposes 934 2,833
Income not taxable for tax purposes (3,157 ) -
Capital allowances in excess of depreciation (24,625 ) -
Depreciation in excess of capital allowances - 13,130

Deferred tax 45,230 (27,295 )
Research & Development enhanced deduction (50,843 ) (55,720 )
Overprovision in prior year - (71,996 )

Losses carried forward - (14,414 )
Total tax credit (21,002 ) (273,227 )

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.


EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

9. DIVIDENDS

2023 2022
£ £
Ordinary A shares of £1 each 1,000 1,950
Ordinary B shares of £1 each 1,000 1,950
Ordinary C shares of £1 each 538 1,950
Ordinary D shares of £1 each 538 1,950
3,076 6,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
on
consolidation
£   
COST
At 1 January 2023
and 31 December 2023 (65,270 )
AMORTISATION
At 1 January 2023
and 31 December 2023 (65,270 )
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

11. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 57,285 2,821,635 196,690
Additions 3,913 204,349 -
Disposals - - -
At 31 December 2023 61,198 3,025,984 196,690
DEPRECIATION
At 1 January 2023 26,501 2,350,821 175,383
Charge for year 21,173 79,515 4,502
Eliminated on disposal - - -
At 31 December 2023 47,674 2,430,336 179,885
NET BOOK VALUE
At 31 December 2023 13,524 595,648 16,805
At 31 December 2022 30,784 470,814 21,307

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 51,190 338,804 3,465,604
Additions - 2,437 210,699
Disposals (24,290 ) - (24,290 )
At 31 December 2023 26,900 341,241 3,652,013
DEPRECIATION
At 1 January 2023 38,854 314,925 2,906,484
Charge for year 6,725 14,007 125,922
Eliminated on disposal (24,290 ) - (24,290 )
At 31 December 2023 21,289 328,932 3,008,116
NET BOOK VALUE
At 31 December 2023 5,611 12,309 643,897
At 31 December 2022 12,336 23,879 559,120

The net book value above includes amounts attributable to assets subject to hire purchase and finance lease agreements at 31 December 2023 of £106,095 (2022: £124,818.)

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 3,023,540
NET BOOK VALUE
At 31 December 2023 3,023,540
At 31 December 2022 3,023,540

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Easi-Bind International Limited
Registered office: Adams Close, Heanor, Derbyshire DE75 7SW U.K.
Nature of business: Print and production of point of sale display,
%
Class of shares: holding
Ordinary £1 Shares 100.00


EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

13. STOCKS

Group
31.12.23 31.12.22
£    £   
Raw materials 655,282 751,051
Work-in-progress 29,454 47,902
Finished goods 24,552 27,092
709,288 826,045

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.12.23 31.12.22
£    £   
Trade debtors 1,752,056 1,951,388
Other debtors 2,012 2,012
Corporation tax recoverable 66,232 173,936
Prepayments and accrued income 115,838 151,383
1,936,138 2,278,719

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Bank loans and overdrafts (see note 17) 105,263 105,263 - -
Hire purchase contracts (see note 18) 61,296 45,322 - -
Trade creditors 506,001 829,869 - -
Social security and other taxes 244,961 299,015 - -
Other creditors 13,775 80,534 673 66,131
Sales ledger funding loan 596,467 516,136 - -
Directors' current accounts 8,511 6,000 8,511 6,000
Accrued expenses 120,649 218,285 - -
1,656,923 2,100,424 9,184 72,131

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

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Bank loans (see note 17) 78,947 184,211 - -
Hire purchase contracts (see note 18) 113,460 48,990 - -
Amounts owed to group undertakings - - 1,934,479 1,933,913
Other creditors 99,754 46,923 99,754 46,923
292,161 280,124 2,034,233 1,980,836

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

17. LOANS

An analysis of the maturity of loans is given below:

Group
31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 105,263 105,263
Amounts falling due between two and five years:
Bank loans - 2-5 years 78,947 184,211

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 61,296 45,322
Between one and five years 113,460 48,990
174,756 94,312

Group
Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 257,281 330,332
Between one and five years 381,085 529,189
638,366 859,521

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.12.23 31.12.22
£    £   
Bank loans 184,210 289,474
Hire purchase contracts 174,756 94,312
Sales ledger funding loan 596,467 516,136
955,433 899,922

The sales ledger funding loan is secured over the book debts of the company.

The CBIL loan of £184,210 (2022: £289,474) is secured by a debenture over company assets.

EBI Holdings Limited (Registered number: 10662637)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 December 2023

20. PROVISIONS FOR LIABILITIES

Group
31.12.23 31.12.22
£    £   
Deferred tax 119,518 74,288

Group
Deferred
tax
£   
Balance at 1 January 2023 74,288
Accelerated capital allowances 45,230
Balance at 31 December 2023 119,518

21. CALLED UP SHARE CAPITAL

Alloted,issued and fully paid:
Number: Class: Nominal 2022 2021
value £ £

65,000 Ordinary A £1 65,000 65,000
65,000 Ordinary B £1 65,000 65,000
35,000 Ordinary C £1 35,000 35,000
35,000 Ordinary D £1 35,000 35,000
200,000 200,000

22. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 1,039,902
Profit for the year 66,836
Dividends (3,076 )
At 31 December 2023 1,103,662


23. ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party.