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REGISTERED NUMBER: 14183391 (England and Wales)












E G LEWIS GROUP INVESTMENT SERVICES LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


E G LEWIS GROUP INVESTMENT SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: T F Lewis
Mrs S W Lewis
R Perry
Mrs C Scoberg
G Summerhayes





REGISTERED OFFICE: Tank Farm Road
Llandarcy
Neath
SA10 6EN





REGISTERED NUMBER: 14183391 (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 INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS
During the financial year, E G Lewis Group Investments Ltd achieved revenue of £10.6 million, driven by strong demand across our core markets. A gross profit margin of 41% was achieved, reflecting efficiency improvements and cost-control measures implemented during the year.

Looking forward, we see significant opportunities in supporting industries transitioning to sustainable practices, such as the hire of energy-efficient equipment and green energy solutions. Additionally, the continued growth in infrastructure projects and construction activity offers strong demand for our services. Our strategy will focus on further expanding our fleet, investing in assets, and exploring new sectors where equipment hire is increasingly essential.

ON BEHALF OF THE BOARD:





T F Lewis - Director


29 October 2024

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £60 per share.

The total distribution of dividends for the year ended 31 January 2024 will be £ 6,000 .

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

T F Lewis
R Perry
Mrs C Scoberg
G Summerhayes

Other changes in directors holding office are as follows:

Mrs S W Lewis - appointed 16 October 2023

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.

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.

AUDITORS
The auditors, Bevan Buckland LLP (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T F Lewis - Director


29 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E G LEWIS GROUP INVESTMENT SERVICES LTD

Opinion
We have audited the financial statements of E G Lewis Group Investment Services Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 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 January 2024 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E G LEWIS GROUP INVESTMENT SERVICES LTD


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:

Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- enquiring of management, including obtaining and reviewing supporting documentation, concerning the Company's policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;
- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas;
- obtaining an understanding of the legal and regulatory frameworks that the Company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the Company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified
In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
- evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E G LEWIS GROUP INVESTMENT SERVICES LTD


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.




Alison Vickers (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP (Statutory Auditors)
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

29 October 2024

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 3 10,748,475 6,593,234

Cost of sales 6,445,240 3,866,446
GROSS PROFIT 4,303,235 2,726,788

Administrative expenses 1,364,670 4,108,162
2,938,565 (1,381,374 )

Other operating income 20,421 6,607
OPERATING PROFIT/(LOSS) 5 2,958,986 (1,374,767 )

Interest receivable and similar income 26,769 505
2,985,755 (1,374,262 )

Interest payable and similar expenses 6 85,461 26,320
PROFIT/(LOSS) BEFORE TAXATION 2,900,294 (1,400,582 )

Tax on profit/(loss) 7 993,462 372,686
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 1,906,832 (1,773,268 )
Profit/(loss) attributable to:
Owners of the parent 1,906,832 (1,773,268 )

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 1,906,832 (1,773,268 )


OTHER COMPREHENSIVE INCOME
Increase in FV of Investment Property 791,666 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

791,666

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,698,498

(1,773,268

)

Total comprehensive income attributable to:
Owners of the parent 2,698,498 (1,773,268 )

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

CONSOLIDATED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 382,560 491,863
Tangible assets 11 601,921 95,323
Investments 12 - -
Investment property 13 3,505,000 2,713,334
4,489,481 3,300,520

CURRENT ASSETS
Debtors 14 950,585 1,047,950
Cash at bank 1,722,456 1,508,769
2,673,041 2,556,719
CREDITORS
Amounts falling due within one year 15 2,698,549 3,808,863
NET CURRENT LIABILITIES (25,508 ) (1,252,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,463,973

2,048,376

CREDITORS
Amounts falling due after more than one
year

16

(460,638

)

(1,029,301

)

PROVISIONS FOR LIABILITIES 19 (453,287 ) (161,330 )

ACCRUALS AND DEFERRED INCOME 20 (7,438 ) (7,633 )
NET ASSETS 3,542,610 850,112

CAPITAL AND RESERVES
Called up share capital 21 100 100
Revaluation reserve 22 1,752,631 960,965
Retained earnings 22 1,789,879 (110,953 )
SHAREHOLDERS' FUNDS 3,542,610 850,112

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 INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

COMPANY BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 3,931,600 3,931,600
Investment property 13 - -
3,931,600 3,931,600

CURRENT ASSETS
Debtors 14 968,500 -
Cash at bank 23,806 29,820
992,306 29,820
CREDITORS
Amounts falling due within one year 15 959,945 3,449,007
NET CURRENT ASSETS/(LIABILITIES) 32,361 (3,419,187 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,963,961

512,413

CREDITORS
Amounts falling due after more than one
year

16

-

512,493
NET ASSETS/(LIABILITIES) 3,963,961 (80 )

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 3,963,861 (180 )
SHAREHOLDERS' FUNDS 3,963,961 (80 )

Company's profit/(loss) for the financial year 3,970,041 (180 )

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 29 October 2024 and were signed on its behalf by:





T F Lewis - Director


E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 1,000 3,219,773 960,965 4,181,738

Changes in equity
Issue of share capital (900 ) - - (900 )
Dividends - (1,557,458 ) - (1,557,458 )
Total comprehensive income - (1,773,268 ) - (1,773,268 )
Balance at 31 January 2023 100 (110,953 ) 960,965 850,112

Changes in equity
Dividends - (6,000 ) - (6,000 )
Total comprehensive income - 1,906,832 791,666 2,698,498
Balance at 31 January 2024 100 1,789,879 1,752,631 3,542,610

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 100 - 100
Total comprehensive income - (180 ) (180 )
Balance at 31 January 2023 100 (180 ) (80 )

Changes in equity
Dividends - (6,000 ) (6,000 )
Total comprehensive income - 3,970,041 3,970,041
Balance at 31 January 2024 100 3,963,861 3,963,961

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,019,105 405,911
Interest paid (85,461 ) (26,320 )
Tax paid (372,686 ) (86,240 )
Net cash from operating activities 1,560,958 293,351

Cash flows from investing activities
Purchase of intangible fixed assets - (546,515 )
Purchase of tangible fixed assets (767,375 ) (103,599 )
Purchase of investment property - (464,000 )
Sale of tangible fixed assets 103,500 -
Interest received 26,769 505
Net cash from investing activities (637,106 ) (1,113,609 )

Cash flows from financing activities
New loans in year - 5,300,000
Loan repayments in year (704,165 ) (1,748,936 )
Amount introduced by directors 30,000 269,500
Amount withdrawn by directors (30,000 ) -
Share issue - (900 )
Acquisition of Subsidiary - (4,400,000 )
Cash Acquired on Acquisition - 1,508,769
Equity dividends paid (6,000 ) (1,557,458 )
Net cash from financing activities (710,165 ) (629,025 )

Increase/(decrease) in cash and cash equivalents 213,687 (1,449,283 )
Cash and cash equivalents at beginning
of year

2

1,508,769

2,958,052

Cash and cash equivalents at end of year 2 1,722,456 1,508,769

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 2,900,294 (1,400,582 )
Depreciation charges 167,163 24,147
Profit on disposal of fixed assets (9,886 ) -
Amortisation of Goodwill 109,303 54,642
Finance costs 85,461 26,320
Finance income (26,769 ) (505 )
3,225,566 (1,295,978 )
Decrease/(increase) in trade and other debtors 169,365 (1,035,154 )
(Decrease)/increase in trade and other creditors (1,375,826 ) 2,737,043
Cash generated from operations 2,019,105 405,911

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 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 1,722,456 1,508,769
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 1,508,769 2,958,052


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank 1,508,769 (2,594,159 ) 1,722,456
1,508,769 (2,594,159 ) 1,722,456
Debt
Debts falling due
within 1 year (299,821 ) 173,984 (125,837 )
Debts falling due
after 1 year (1,029,301 ) 568,663 (460,638 )
(1,329,122 ) 742,647 (586,475 )
Total 179,647 (1,851,512 ) 1,135,981

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

1. STATUTORY INFORMATION

E G Lewis Group Investment 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 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 as modified by the revaluation of certain assets.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover from the sale of goods is recognised in the profit and loss account when significant risks and rewards of ownership have been transferred to the buyer. No turnover is recognised if there are significant uncertainties regarding recovery of the consideration due to associated costs, or there is the possibility of return of the goods. Turnover represents the sale of goods/revenue from contracts, excluding tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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.
Improvements to property - 2% on cost
Motor vehicles - 25% reducing balance and 25% on cost

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. 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 the income statement.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible 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).

Recoverable amount is the higher of fair value less costs to sell and value in use.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

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 statement of financial position 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 receivables 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.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies are initially recognised at transaction price unless the measurement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.

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 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.

The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period in which they relate.

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

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

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

2. ACCOUNTING POLICIES - continued

Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provisions for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Short term creditors are measured at the transaction price. Bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 10,748,475 6,593,234
10,748,475 6,593,234

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,430,243 3,891,975
Social security costs 597,978 420,225
Other pension costs 134,063 114,929
6,162,284 4,427,129

The average number of employees during the year was as follows:
2024 2023

Admin 119 77

The average number of employees by undertakings that were proportionately consolidated during the year was 119 (2023 - 77 ) .

2024 2023
£    £   
Directors' remuneration 149,570 65,736

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 167,163 24,137
Profit on disposal of fixed assets (9,886 ) -
Goodwill amortisation 109,303 54,652
Auditors' remuneration 24,000 -

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 61,616 26,320
Other Loan Interest 23,845 -
85,461 26,320

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 701,505 372,686

Deferred tax 291,957 -
Tax on profit/(loss) 993,462 372,686

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Increase in FV of Investment Property 791,666 - 791,666

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.


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Final 6,000 162,458
Interim - 1,395,000
6,000 1,557,458

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 546,515
AMORTISATION
At 1 February 2023 54,652
Amortisation for year 109,303
At 31 January 2024 163,955
NET BOOK VALUE
At 31 January 2024 382,560
At 31 January 2023 491,863

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

11. TANGIBLE FIXED ASSETS

Group
Improvements
to Motor
property vehicles Totals
£    £    £   
COST
At 1 February 2023 19,785 103,599 123,384
Additions - 767,375 767,375
Disposals - (121,226 ) (121,226 )
At 31 January 2024 19,785 749,748 769,533
DEPRECIATION
At 1 February 2023 4,320 23,741 28,061
Charge for year 395 166,768 167,163
Eliminated on disposal - (27,612 ) (27,612 )
At 31 January 2024 4,715 162,897 167,612
NET BOOK VALUE
At 31 January 2024 15,070 586,851 601,921
At 31 January 2023 15,465 79,858 95,323

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 3,931,600
NET BOOK VALUE
At 31 January 2024 3,931,600
At 31 January 2023 3,931,600

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

Subsidiaries

E G Lewis Group Hire Services Ltd
Registered office: Tank Farm Road, Llandarcy, Neath, West Glamorgan, SA10 6EN
Nature of business: Hire of Plant & Machinery
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 236,755 100
Profit for the year 236,655 -

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

12. FIXED ASSET INVESTMENTS - continued

E G Lewis Developments
Registered office: Tank Farm Road, Llandarcy, Neath, West Glamorgan, SA10 6EN
Nature of business: Letting & Operating of own or leased real estate
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,831,521 4,019,648
Profit for the year 2,020,207 1,395,368


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 February 2023 2,713,334
Revaluations 791,666
At 31 January 2024 3,505,000
NET BOOK VALUE
At 31 January 2024 3,505,000
At 31 January 2023 2,713,334

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2011 960,565
Valuation in 2024 791,666
Cost 1,752,769
3,505,000

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts owed by group undertakings - - 968,500 -
Amounts owed by participating interests 424,212 866,696 - -
Amounts owed by joint ventures 5,538 - - -
Amounts owed by associates 485,499 171,000 - -
Other debtors 22,422 227 - -
Called up share capital not paid - 100 - -
Prepayments and accrued income 12,914 9,927 - -
950,585 1,047,950 968,500 -

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 125,837 108,149 - -
Other loans (see note 17) - 191,672 - 191,672
Trade creditors 7,975 - - -
Amounts owed to group undertakings - - 923,945 3,227,336
Amounts owed to participating interests 460,380 1,965,923 - -
Amounts owed to joint ventures - 198,800 - -
Amounts owed to associates 181,974 - - -
Tax 701,505 372,686 - -
Social security and other taxes 142,132 132,192 - -
VAT 698,230 581,543 - -
Other Creditors 155,555 85,662 - (1 )
Directors' current accounts 30,000 30,000 30,000 30,000
Accruals and deferred income 6,000 - 6,000 -
Accrued expenses 188,961 142,236 - -
2,698,549 3,808,863 959,945 3,449,007

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 17) 460,638 516,808 - -
Other loans (see note 17) - 512,493 - 512,493
460,638 1,029,301 - 512,493

17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 125,837 108,149 - -
Other loans - 191,672 - 191,672
125,837 299,821 - 191,672
Amounts falling due between one and two years:
Other loans - 1-2 years - 191,672 - 191,672
Amounts falling due between two and five years:
Bank loans more than 1 year 460,638 516,808 - -
Other loans - 2-5 years - 320,821 - 320,821
460,638 837,629 - 320,821

E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 586,475 -

The group's banker Lloyds Bank PLC holds the following security: -

A Fixed charge, floating charge and negative pledge dated 11/08/22 over land and freehold properties.

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 453,287 161,330

Group
Deferred
tax
£   
Balance at 1 February 2023 161,330
Charge to Income Statement during year 291,957
Balance at 31 January 2024 453,287

20. ACCRUALS AND DEFERRED INCOME

Group
2024 2023
£    £   
Accruals and deferred income 7,438 7,633

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

22. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 (110,953 ) 960,965 850,012
Profit for the year 1,906,832 1,906,832
Dividends (6,000 ) (6,000 )
Revaluation of Fixed Assets - 791,666 791,666
At 31 January 2024 1,789,879 1,752,631 3,542,510


E G LEWIS GROUP INVESTMENT SERVICES LTD (REGISTERED NUMBER: 14183391)

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

23. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Sales 10,538,330 4,240,271
Purchases 392,843 4,323

24. ULTIMATE CONTROLLING PARTY

The Directors consider that there is no ultimate controlling party, as no individual, entity, or group has control over the company as defined by Section 33 of FRS 102 (Related Party Disclosures). Control is defined as the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities, and no one party meets these criteria.