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Company No: 11151316 (England and Wales)

ELBERRY LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ELBERRY LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ELBERRY LTD

BALANCE SHEET

As at 31 March 2024
ELBERRY LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 114,407 122,988
Tangible assets 4 77,023 59,032
191,430 182,020
Current assets
Stocks 2,150 2,150
Cash at bank and in hand 149,555 122,515
151,705 124,665
Creditors: amounts falling due within one year 5 ( 56,827) ( 46,895)
Net current assets 94,878 77,770
Total assets less current liabilities 286,308 259,790
Creditors: amounts falling due after more than one year 6 ( 156,841) ( 179,310)
Provision for liabilities ( 19,256) ( 14,758)
Net assets 110,211 65,722
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 110,111 65,622
Total shareholders' funds 110,211 65,722

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Elberry Ltd (registered number: 11151316) were approved and authorised for issue by the Board of Directors on 25 November 2024. They were signed on its behalf by:

Mrs A C J Aram
Director
Mr B Aram
Director
ELBERRY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ELBERRY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elberry Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. The company recognises revenue when the value of the services provided to date can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 6

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 171,613 171,613
At 31 March 2024 171,613 171,613
Accumulated amortisation
At 01 April 2023 48,625 48,625
Charge for the financial year 8,581 8,581
At 31 March 2024 57,206 57,206
Net book value
At 31 March 2024 114,407 114,407
At 31 March 2023 122,988 122,988

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 19,006 73,912 92,918
Additions 11,875 19,167 31,042
At 31 March 2024 30,881 93,079 123,960
Accumulated depreciation
At 01 April 2023 0 33,886 33,886
Charge for the financial year 4,551 8,500 13,051
At 31 March 2024 4,551 42,386 46,937
Net book value
At 31 March 2024 26,330 50,693 77,023
At 31 March 2023 19,006 40,026 59,032

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured £ 13,163) 23,163 21,840
Taxation and social security 24,460 12,256
Obligations under finance leases and hire purchase contracts (secured) 3,167 3,167
Other creditors 6,037 9,632
56,827 46,895

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured £ 137,007) 153,674 172,977
Obligations under finance leases and hire purchase contracts (secured) 3,167 6,333
156,841 179,310

The bank loan is denominated in £ with a nominal interest rate of 4.2% and the final instalment is due on 31 May 2033. The carrying amount at the year end is £150,170.

There is a floating charge covering all the property or undertakings of the company.

Hire Purchase liabilities are secured over the assets to which they relate to.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Tangible fixed assets 69,030 93,975