IRIS Accounts Production v24.3.0.553 13731659 Board of Directors 1.2.23 31.1.24 31.1.24 29.10.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh137316592023-01-31137316592024-01-31137316592023-02-012024-01-31137316592021-11-08137316592021-11-092023-01-31137316592023-01-3113731659ns15:EnglandWales2023-02-012024-01-3113731659ns14:PoundSterling2023-02-012024-01-3113731659ns10:Director12023-02-012024-01-3113731659ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3113731659ns10:SmallEntities2023-02-012024-01-3113731659ns10:Audited2023-02-012024-01-3113731659ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3113731659ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3113731659ns10:FullAccounts2023-02-012024-01-3113731659ns10:Director22023-02-012024-01-3113731659ns10:RegisteredOffice2023-02-012024-01-3113731659ns5:CurrentFinancialInstruments2024-01-3113731659ns5:CurrentFinancialInstruments2023-01-3113731659ns5:ShareCapital2024-01-3113731659ns5:ShareCapital2023-01-3113731659ns5:RetainedEarningsAccumulatedLosses2024-01-3113731659ns5:RetainedEarningsAccumulatedLosses2023-01-3113731659ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3113731659ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 13731659 (England and Wales)












E G LEWIS GROUP PAYROLL SERVICES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






E G LEWIS GROUP PAYROLL SERVICES LTD (REGISTERED NUMBER: 13731659)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


E G LEWIS GROUP PAYROLL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: T F Lewis
Mrs S W Lewis





REGISTERED OFFICE: Tank Farm Road
Llandarcy
Neath
SA10 6EN





REGISTERED NUMBER: 13731659 (England and Wales)





AUDITORS: Bevan Buckland LLP (Statutory Auditors)
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

E G LEWIS GROUP PAYROLL SERVICES LTD (REGISTERED NUMBER: 13731659)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 1,290,729 357,265
Cash at bank 704,210 468,470
1,994,939 825,735
CREDITORS
Amounts falling due within one year 5 1,935,523 555,552
NET CURRENT ASSETS 59,416 270,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,416

270,183

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 59,414 270,181
59,416 270,183

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 29 October 2024 and were signed on its behalf by:





T F Lewis - Director


E G LEWIS GROUP PAYROLL SERVICES LTD (REGISTERED NUMBER: 13731659)

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

1. STATUTORY INFORMATION

E G Lewis Group Payroll Services Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the total value of services provided during the financial year, net of Value Added Tax (VAT) and trade discounts, where applicable. Turnover is recognised in the profit and loss account in accordance with the terms of service contracts, as performance obligations are satisfied and when it is probable that economic benefits will flow to the company.

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.

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.

E G LEWIS GROUP PAYROLL SERVICES LTD (REGISTERED NUMBER: 13731659)

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

2. ACCOUNTING POLICIES - continued

Cash at bank and in hand
Cash at bank and in hand 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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Going Concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Basic 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 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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.


Derecognition of financial assets

E G LEWIS GROUP PAYROLL SERVICES LTD (REGISTERED NUMBER: 13731659)

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

2. ACCOUNTING POLICIES - continued
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 and loans from fellow group companies, 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 110 (2023 - 76 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 923,845 195,836
Amounts owed by participating interests 361,890 158,594
Other debtors 4,994 2,835
1,290,729 357,265

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,193 -
Amounts owed to group undertakings 1,000,000 -
Taxation and social security 752,556 472,819
Other creditors 178,774 82,733
1,935,523 555,552

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alison Vickers (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP (Statutory Auditors)