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REGISTERED NUMBER: 07853015 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ellis-Fermor & Negus Limited

Ellis-Fermor & Negus Limited (Registered number: 07853015)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ellis-Fermor & Negus Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B P Bourne
S P Hale
D Kelly
D E Lyon
R J Meredith
G Steele
G S J Tyas





REGISTERED OFFICE: 3 & 5 Market Place
Ripley
Derbyshire
DE5 3BS





REGISTERED NUMBER: 07853015 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ellis-Fermor & Negus Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ellis-Fermor & Negus Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ellis-Fermor & Negus Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ellis-Fermor & Negus Limited and state those matters that we have agreed to state to the Board of Directors of Ellis-Fermor & Negus Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ellis-Fermor & Negus Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ellis-Fermor & Negus Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ellis-Fermor & Negus Limited. You consider that Ellis-Fermor & Negus Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ellis-Fermor & Negus Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY


9 September 2024

Ellis-Fermor & Negus Limited (Registered number: 07853015)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 689,474 702,037
Investments 5 2 2
689,476 702,039

CURRENT ASSETS
Stocks 47,777 40,667
Debtors 6 1,559,367 1,366,438
Cash at bank and in hand 1,646,382 1,832,268
3,253,526 3,239,373
CREDITORS
Amounts falling due within one year 7 1,025,947 1,000,161
NET CURRENT ASSETS 2,227,579 2,239,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,917,055

2,941,251

PROVISIONS FOR LIABILITIES 20,087 21,838
NET ASSETS 2,896,968 2,919,413

CAPITAL AND RESERVES
Called up share capital 9 701,248 701,253
Capital redemption reserve 8 3
Retained earnings 2,195,712 2,218,157
SHAREHOLDERS' FUNDS 2,896,968 2,919,413

Ellis-Fermor & Negus Limited (Registered number: 07853015)

Balance Sheet - continued
31 March 2024


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 9 September 2024 and were signed on its behalf by:





D Kelly - Director


Ellis-Fermor & Negus Limited (Registered number: 07853015)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ellis-Fermor & Negus 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.

Preparation of consolidated financial statements
The financial statements contain information about Ellis-Fermor & Negus Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the total invoice value, excluding VAT, of legal services provided during the year, including disbursements billed to clients, together with the sales value of unbilled work done but not yet invoiced at the statement of financial position date.

Where the substance of a matter is that the contractual obligations are performed gradually over time, revenue is recognised so as to reflect the accrual of the right to consideration as contract activity progresses, by reference to the fair value of work performed and represents amounts chargeable to clients, including expenses and disbursements, but excluding VAT.

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 - 10-20 years
Fixtures and fittings - 25% on cost and 10% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Work in progress
Work in progress arises in situations where it is not appropriate for income to be recognised on client matter at the year end as detailed below.

Where insufficient work has been carried out on a matter to have earned any right to consideration in the context of the matter as a whole (ie. the costs are below the de minimis limit), WIP is valued at cost. When the substance of a matter is that the right or obligation does not arise until the occurrence of a critical event outside the control of the entity, revenue is not invoiced or recognised until that event occurs, and WIP on those matters is also recorded at cost.

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.


Ellis-Fermor & Negus Limited (Registered number: 07853015)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 118 (2023 - 114 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Long and
Buildings leasehold fittings Totals
£    £    £    £   
COST
At 1 April 2023 688,855 55,094 581,326 1,325,275
Additions - - 42,165 42,165
Disposals - (25,468 ) (7,700 ) (33,168 )
At 31 March 2024 688,855 29,626 615,791 1,334,272
DEPRECIATION
At 1 April 2023 70,000 54,053 499,185 623,238
Charge for year 14,000 1,041 39,687 54,728
Eliminated on disposal - (25,468 ) (7,700 ) (33,168 )
At 31 March 2024 84,000 29,626 531,172 644,798
NET BOOK VALUE
At 31 March 2024 604,855 - 84,619 689,474
At 31 March 2023 618,855 1,041 82,141 702,037

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

Ellis-Fermor & Negus Limited (Registered number: 07853015)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 697,016 627,236
Other debtors 862,351 739,202
1,559,367 1,366,438

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 609,345 596,759
Other creditors 416,602 403,402
1,025,947 1,000,161

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 45,340 46,000
Between one and five years 57,185 36,750
In more than five years 42,075 -
144,600 82,750

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
267,856 Ordinary £1.00 267,856 267,856
433,384 Preference £1.00 433,384 433,389
8 Ordinary Management £1.00 8 8
701,248 701,253