IRIS Accounts Production v24.3.2.46 14183375 Board of Directors 31.1.24 1.2.23 31.1.24 31.1.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. . true true false true true false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh141833752023-01-31141833752024-01-31141833752023-02-012024-01-31141833752022-06-19141833752022-06-202023-01-31141833752023-01-3114183375ns15:EnglandWales2023-02-012024-01-3114183375ns14:PoundSterling2023-02-012024-01-3114183375ns10:Director12023-02-012024-01-3114183375ns10:Consolidated2024-01-3114183375ns10:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3114183375ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3114183375ns10:Consolidatedns10:MediumEntities2023-02-012024-01-3114183375ns10:Consolidatedns10:Audited2023-02-012024-01-3114183375ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3114183375ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3114183375ns10:Consolidated2023-02-012024-01-3114183375ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3114183375ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-02-012024-01-3114183375ns10:FullAccounts2023-02-012024-01-311418337512023-02-012024-01-3114183375ns10:OrdinaryShareClass12023-02-012024-01-3114183375ns10:Director22023-02-012024-01-3114183375ns10:Director32023-02-012024-01-3114183375ns10:Director42023-02-012024-01-3114183375ns10:Director52023-02-012024-01-3114183375ns10:RegisteredOffice2023-02-012024-01-3114183375ns10:Consolidated2022-06-202023-01-3114183375ns5:CurrentFinancialInstruments2024-01-3114183375ns5:CurrentFinancialInstruments2023-01-3114183375ns5:Non-currentFinancialInstruments2024-01-3114183375ns5:Non-currentFinancialInstruments2023-01-3114183375ns5:ShareCapital2024-01-3114183375ns5:ShareCapital2023-01-3114183375ns5:RetainedEarningsAccumulatedLosses2024-01-3114183375ns5:RetainedEarningsAccumulatedLosses2023-01-3114183375ns5:ShareCapital2022-06-202023-01-3114183375ns5:RetainedEarningsAccumulatedLosses2022-06-202023-01-3114183375ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-3114183375ns5:NetGoodwill2023-02-012024-01-3114183375ns5:LeaseholdImprovements2023-02-012024-01-3114183375ns5:PlantMachinery2023-02-012024-01-3114183375ns5:FurnitureFittings2023-02-012024-01-3114183375ns5:MotorVehicles2023-02-012024-01-3114183375ns5:ComputerEquipment2023-02-012024-01-3114183375ns5:CostValuation2023-01-3114183375ns5:AdditionsToInvestments2024-01-3114183375ns5:CostValuation2024-01-3114183375ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3114183375ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-3114183375ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-01-3114183375ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 14183375 (England and Wales)












E G LEWIS GROUP INDUSTRIAL SERVICES LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)






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 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


E G LEWIS GROUP INDUSTRIAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







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





REGISTERED OFFICE: Tank Farm Road
Llandarcy
Neath
SA10 6EN





REGISTERED NUMBER: 14183375 (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 INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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.

The EG Lewis Group Industrial Services Limited aspire to be the leading multi-disciplined contractor in South Wales, delivering a premium service and effective solutions to our customers.

We value our people, customers, partners and the communities in which we operate. Our core values and behaviours underpin everything we do;

Safety
We are in a hazardous business and everything we do relies upon the safety of our workforce and the communities around us. Safe working is good business and takes priority above all.

Leadership
Our leaders have created a vision and will passionately own and drive it to completion. Our people share our vision and work in line with our actions, beliefs, values, and goals.

Responsibility
We care about the safe management of the environment. We are committed to supporting the communities which we operate. Our people operate in an ethical manner at all times.

Excellence
We strive for excellence through systematic and disciplined management of our operations and commit to quality outcomes, having a thirst to learn, and to improve.

Discipline
We follow and uphold the rules and standards we set for our company. If something is not right, we correct it.

Collaboration
We work to a defined and common business purpose as we accomplish more together, trusting our teams and partners to deliver on our obligations and put the team ahead of personal success.

REVIEW OF BUSINESS
During the financial year, E G Lewis Group Industrial Services Ltd achieved revenue of £29.7 million, driven by strong demand across our core markets. A gross profit margin of 11% was achieved, reflecting efficiency improvements and cost-control measures implemented during the year.

As a result of the acquisition in 2022, administrative expenses this year include a charge for the amortisation of goodwill of £2.4 million, without this charge the group would have reported an operating profit of £1.9 million, and Net Assets of £1.3 million. While the group's consolidated reserves are negative due to this goodwill amortisation, the individual trading subsidiary companies reserves remain in a strong Net Asset position.

Looking ahead, the Group remains focused on expanding its service portfolio, and exploring existing markets where we see significant growth potential. By continuing to invest in people, innovation, and technology, we are well-positioned to meet evolving client demands and deliver sustainable growth. We anticipate that ongoing global infrastructure needs, will provide favourable market conditions for our services over the next few years. The groups projected financial performance looks strong and the directors are confident that the Group will achieve positive consolidated reserves in foreseeable future.

ON BEHALF OF THE BOARD:





T F Lewis - Director


29 October 2024

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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
The total distribution of dividends for the year ended 31 January 2024 will be £ 7,700,000 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

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
Mrs C Scoberg
G Summerhayes
R Perry

Other changes in directors holding office are as follows:

Mrs S W Lewis - appointed 16 October 2023

POLITICAL DONATIONS AND EXPENDITURE
Donations during the year totalled £2,650 (2023: £NIL). None of these were political.

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.

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


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 INDUSTRIAL SERVICES LTD

Opinion
We have audited the financial statements of E G Lewis Group Industrial 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.

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


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.

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


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. 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- enquiring of management, including obtaining and reviewing support documentation, concerning the group and 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;
- 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.
- 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.

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;
- 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 INDUSTRIAL 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 INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

Year Ended Period
31.1.24 20.6.22 to 31.1.23
Notes £    £    £    £   

TURNOVER 4 29,782,477 14,059,231

Cost of sales 26,385,436 12,006,707
GROSS PROFIT 3,397,041 2,052,524

Administrative expenses 3,983,687 1,922,156
(586,646 ) 130,368

Other operating income 79,850 5,109
OPERATING (LOSS)/PROFIT 6 (506,796 ) 135,477

Income from fixed asset investments 7,700,000 -
Interest receivable and similar income 17,442 11,191
7,717,442 11,191
7,210,646 146,668

Interest payable and similar expenses 7 165,917 9,529
PROFIT BEFORE TAXATION 7,044,729 137,139

Tax on profit 8 451,301 148,760
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 6,593,428 (11,621 )
Profit/(loss) attributable to:
Owners of the parent 6,593,428 (11,621 )

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

Period
20.6.22
Year Ended to
31.1.24 31.1.23
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 6,593,428 (11,621 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

6,593,428

(11,621

)

Total comprehensive income attributable to:
Owners of the parent 6,593,428 (11,621 )

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

CONSOLIDATED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 8,625,167 10,832,432
Tangible assets 12 143,213 434,008
Investments 13 - -
8,768,380 11,266,440

CURRENT ASSETS
Stocks 14 546,379 763,423
Debtors 15 11,748,154 10,087,646
Cash at bank and in hand 1,724,121 1,300,993
14,018,654 12,152,062
CREDITORS
Amounts falling due within one year 16 23,161,981 22,922,845
NET CURRENT LIABILITIES (9,143,327 ) (10,770,783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(374,947

)

495,657

CREDITORS
Amounts falling due after more than one year 17 (134,386 ) -

PROVISIONS FOR LIABILITIES 20 (608,760 ) (507,178 )
NET LIABILITIES (1,118,093 ) (11,521 )

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 (1,118,193 ) (11,621 )
SHAREHOLDERS' FUNDS (1,118,093 ) (11,521 )

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 INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

COMPANY BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 18,935,775 18,935,715
18,935,775 18,935,715

CURRENT ASSETS
Cash at bank 29,796 -

CREDITORS
Amounts falling due within one year 16 12,307,256 18,895,845
NET CURRENT LIABILITIES (12,277,460 ) (18,895,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,658,315

39,870

CREDITORS
Amounts falling due after more than one year 17 134,386 -
NET ASSETS 6,523,929 39,870

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 6,523,829 39,770
SHAREHOLDERS' FUNDS 6,523,929 39,870

Company's profit for the financial year 6,484,059 39,770

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 INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

CONSOLIDATED 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 - (11,621 ) (11,621 )
Balance at 31 January 2023 100 (11,621 ) (11,521 )

Changes in equity
Dividends - (7,700,000 ) (7,700,000 )
Total comprehensive income - 6,593,428 6,593,428
Balance at 31 January 2024 100 (1,118,193 ) (1,118,093 )

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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 - 39,770 39,770
Balance at 31 January 2023 100 39,770 39,870

Changes in equity
Total comprehensive income - 6,484,059 6,484,059
Balance at 31 January 2024 100 6,523,829 6,523,929

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

Period
20.6.22
Year Ended to
31.1.24 31.1.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 5,573,657 3,710,817
Interest paid (165,917 ) (9,529 )
Tax paid (294,643 ) (103,561 )
Net cash from operating activities 5,113,097 3,597,727

Cash flows from investing activities
Purchase of intangible fixed assets (200,000 ) -
Purchase of tangible fixed assets (148,719 ) (108,329 )
Sale of tangible fixed assets 398,617 -
Acquisition of subsidiary - (7,934,113 )
Cash acquired on acquisition - 9,979,903
Interest received 17,442 11,191
Dividends received 7,700,000 -
Net cash from investing activities 7,767,340 1,948,652

Cash flows from financing activities
Loan note repayments (4,787,309 ) (4,245,486 )
Amount introduced by directors 30,000 -
Share issue - 100
Equity dividends paid (7,700,000 ) -
Net cash from financing activities (12,457,309 ) (4,245,386 )

Increase in cash and cash equivalents 423,128 1,300,993
Cash and cash equivalents at beginning of
year

2

1,300,993

-

Cash and cash equivalents at end of year 2 1,724,121 1,300,993

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Profit before taxation 7,044,729 137,139
Depreciation charges 95,455 89,897
Profit on disposal of fixed assets (54,558 ) -
Dilapidation provision 146,472 109,282
Amortisation charges 2,407,265 1,203,633
Finance costs 165,917 9,529
Finance income (7,717,442 ) (11,191 )
2,087,838 1,538,289
Decrease in stocks 217,044 365,591
(Increase)/decrease in trade and other debtors (1,664,553 ) 2,256,120
Increase/(decrease) in trade and other creditors 4,933,328 (449,183 )
Cash generated from operations 5,573,657 3,710,817

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 1,724,121 1,300,993
Period ended 31 January 2023
31.1.23 20.6.22
£    £   
Cash and cash equivalents 1,300,993 -


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 1,300,993 423,128 1,724,121
1,300,993 423,128 1,724,121
Debt
Debts falling due within 1 year (6,756,016 ) 4,921,695 (1,834,321 )
Debts falling due after 1 year - (134,386 ) (134,386 )
(6,756,016 ) 4,787,309 (1,968,707 )
Total (5,455,023 ) 5,210,437 (244,586 )

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

1. GOING CONCERN

The consolidated financial statements have been prepared on a going concern basis, which the directors consider appropriate based on the continued profitability and positive cash flow forecasts of the Group's trading subsidiaries.

While the Group's consolidated reserves are negative due to goodwill amortisation, the directors have assessed the financial performance and projected cash flows of each trading subsidiary. Based on this assessment, the directors are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future, and they do not foresee any material uncertainties that may cast significant doubt on the Group’s ability to continue as a going concern.

Accordingly, the directors are comfortable in preparing the financial statements on a going concern basis, consistent with the requirements of FRS 102.

2. STATUTORY INFORMATION

E G Lewis Group Industrial 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.

3. 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.

Basis of consolidation
The consolidated financial statements include the company and its subsidiary undertakings and have been prepared using the acquisition method of accounting. These are the first financial statements consolidated of E G Lewis Group Industrial Services Limited.

All material companies, which are more than 50% controlled, either directly or indirectly, are fully consolidated. Control is presumed to exist where more than half of a subsidiary's voting rights are controlled by the parent company, or where the parent company has the right to remove or appoint a majority of a subsidiary's board of directors or has entered into an agreement with the other shareholders or partners of a subsidiary. Where Minority interest exists, it is shown under the appropriate heading in the consolidated balance sheet and profit and loss account.

The results of subsidiaries acquired or disposed of during the period are included in the consolidated financial statements from the effective date of acquisition up to the effective date of disposal, as appropriate.The financial statements of the subsidiaries used in the preparation of the consolidated financial statements are based on consistent accounting policies or where appropriate accounting policies for subsidiaries have been changed to ensure consistency with the policies adopted by the Group.

Intra-group balances and any unrealised gains and losses or income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements.

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.

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be appropriate and reasonable in the circumstances.

a) Critical judgements in applying the company's accounting policies

The directors do not consider there to be any critical accounting judgements to the financial statements.

b) Key accounting estimates and assumptions

i) Long term contracts

Where the Group enters into long term contracts, revenue is recognised on the percentage of completion basis. Under the percentage of completion method, the Group makes an estimate of the percentage to complete for a project and recognises the proportion of revenue and profit accordingly. In forecasting the profitability of contracts, management makes best estimates of the impact of customer disputes and claims brought by contractors. Any expected losses on long term contracts are recognised immediately and are written off to the Statement of comprehensive income.

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. Turnover from the projects or contracts is recognised as income in proportion to the stage of completion of the transaction at the balance sheet date. The stage of completion is assessed depending on the specific circumstances of each case. 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.

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 - 15% on cost and equal instalments over the lease period
Plant and Machinery - 25% reducing balance, 25% on cost and 15% reducing balance
Fixtures and fittings - 20% on cost and 15% reducing balance
Motor vehicles - 25% reducing balance and 25% on cost
Computer equipment - 33% straight line and 33% on cost

Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition of the item.

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
The Group performs impairment testing where there are any indicators of impairment. Impairment is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impairment is recognised immediately in the income statement.

Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the revised estimate of the recoverable amount, but so that the increased carrying value does not exceed the carrying value that would have been determined if no impairment loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement.

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

3. ACCOUNTING POLICIES - continued

Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Work-in-progress represents the cost of services rendered and materials used on projects that have not yet reached completion. For accounting purposes, WIP is recognised as part of the company's assets until the project is invoiced or otherwise recognised as revenue.

The revenue associated with each construction project is recognised based on the percentage of completion method, whereby the revenue and costs are recognised in proportion to the work performed as at the reporting date.

Revenue from construction contracts is recognised based on the stage of completion. This is determined as the proportion of contract costs incurred for work performed to date relative to the estimated total contract costs. Revenue recognised on WIP is limited to the amount that is reasonably certain to be recoverable.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately as an expense in the income statement. The amount recognised is the expected excess of costs over revenue, measured at the reporting date.

WIP is reviewed at each reporting date to ensure it remains recoverable. Any impairment loss is recognised if the carrying amount exceeds its net realisable value.

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.

Hire purchase and leasing commitments
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.

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

3. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

To the extent that grants are made as a contribution towards specific expenditure on fixed assets, they are recognised over the useful economic life of the related asset.

Grants made to give immediate financial support or assistance to an enterprise or to reimburse costs previously incurred are recognised in the profit and loss account of the period in which they become receivable.

Provisions for liabilities
Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Dilapidation Provision
Provisions are made for dilapidations, estimate for the provision is based on expected cost to restore the building to its original state.

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.

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, 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.

Employee Benefits
Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Amounts Recoverable under contracts
Amounts recoverable under contracts represent work done at the year-end where a continuing right to receive income exists and is valued at the estimated amount recoverable in excess of fees already rendered on account.

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

3. 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.

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other receivables and payables, amounts due to and from related parties.

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debt instruments like loans and other receivables and payables are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying value and the present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the group would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount recognised in the balance sheet when there is an 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. At each reporting date non-financial assets not carried at fair value, such as property, plant and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less costs to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

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

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
United Kingdom 29,782,477 14,059,231
29,782,477 14,059,231

5. EMPLOYEES AND DIRECTORS
Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Wages and salaries 3,880,584 3,370,430
Social security costs 373,240 431,094
Other pension costs 117,788 253,930
4,371,612 4,055,454

The average number of employees during the year was as follows:
Period
20.6.22
Year Ended to
31.1.24 31.1.23

Direct Wages 70 84
Admin 8 11
78 95

The average number of employees by undertakings that were proportionately consolidated during the year was 78 (2023 - 95 ) .

Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Directors' remuneration - 29,959
Directors' pension contributions to money purchase schemes 1,375 64,285

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

Money purchase schemes 1 1

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

6. OPERATING (LOSS)/PROFIT

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

Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Hire of plant and machinery 3,065,661 2,084,991
Vehicle Hire 479,348 177,584
Depreciation - owned assets 95,455 173,314
Profit on disposal of fixed assets (54,558 ) -
Goodwill amortisation 2,407,265 1,203,633
Auditors' remuneration 22,150 24,400
Taxation compliance services 2,200 4,500
Other assurance services 500 -
Other non- audit services 15,645 3,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Other loan interest 165,917 260
Other Interest - 9,269
165,917 9,529

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Current tax:
UK corporation tax 447,360 139,330

Deferred tax 3,941 9,430
Tax on profit 451,301 148,760

9. 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.


E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

10. DIVIDENDS
Period
20.6.22
Year Ended to
31.1.24 31.1.23
£    £   
Ordinary shares of £1 each
Final 5,705,000 -
shares of each
Final 1,662,500 -
shares of each
Final 332,500 -
7,700,000 -

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 February 2023 12,036,065
Additions 200,000
At 31 January 2024 12,236,065
AMORTISATION
At 1 February 2023 1,203,633
Amortisation for year 2,407,265
At 31 January 2024 3,610,898
NET BOOK VALUE
At 31 January 2024 8,625,167
At 31 January 2023 10,832,432

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

12. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property Machinery fittings
£    £    £   
COST
At 1 February 2023 122,031 513,615 81,514
Additions - 31,000 5,051
Disposals - - -
At 31 January 2024 122,031 544,615 86,565
DEPRECIATION
At 1 February 2023 122,031 381,051 74,904
Charge for year - 71,303 3,641
Eliminated on disposal - - -
At 31 January 2024 122,031 452,354 78,545
NET BOOK VALUE
At 31 January 2024 - 92,261 8,020
At 31 January 2023 - 132,564 6,610

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 382,014 207,188 1,306,362
Additions 85,901 26,767 148,719
Disposals (427,509 ) (26,767 ) (454,276 )
At 31 January 2024 40,406 207,188 1,000,805
DEPRECIATION
At 1 February 2023 110,217 184,151 872,354
Charge for year 5,051 15,460 95,455
Eliminated on disposal (110,217 ) - (110,217 )
At 31 January 2024 5,051 199,611 857,592
NET BOOK VALUE
At 31 January 2024 35,355 7,577 143,213
At 31 January 2023 271,797 23,037 434,008

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

13. FIXED ASSET INVESTMENTS

Company
Other
investments
£   
COST
At 1 February 2023 18,935,715
Additions 60
At 31 January 2024 18,935,775
NET BOOK VALUE
At 31 January 2024 18,935,775
At 31 January 2023 18,935,715

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 Holdings Limited
Registered office: Tank Farm Road, Llandarcy, Neath, United Kingdom, SA10 6EN
Nature of business: Rental of Plant & Machinery
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 5,830,406 5,540,021
Profit for the year/period 290,385 1,156,207

E G Lewis & Company Limited
Registered office: Tank Farm Road, Llandarcy, Neath, United Kingdom, SA10 6EN
Nature of business: Industrial Painters
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,328,061 1,000,850
Profit for the year/period 327,211 457,770

Skelton Thomas Engineering Limited
Registered office: Tank Farm Road, Llandarcy, Neath, United Kingdom, SA10 6EN
Nature of business: Engineering, fabrication and sign making
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,359,493 1,521,080
Profit for the year/period 838,413 356,749


E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

14. STOCKS

Group
2024 2023
£    £   
Stocks 206,652 270,143
Work-in-progress 339,727 493,280
546,379 763,423

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 9,942,161 7,595,571
Amounts owed by participating interests 420,638 32,854
Amounts owed by joint ventures 22,262 52,960
Amounts owed by associates 466,923 1,965,923
Other debtors 382,200 10,111
Amounts due from contracts 388,245 307,765
Tax - 4,044
Deferred tax asset - 1,707
Prepayments 125,725 116,711
11,748,154 10,087,646

Deferred tax asset
Group
2024 2023
£    £   
Deferred tax - 1,707

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 18) - - - 180
Other loans (see note 18) 1,834,321 6,756,016 1,834,321 6,756,016
Trade creditors 1,162,910 1,474,377 - -
Amounts owed to group undertakings - - 10,442,935 12,139,649
Amounts owed to participating interests 7,220 - - -
Amounts owed to joint ventures 361,105 164,482 - -
Tax 447,360 249,856 - -
Social security and other taxes 111,553 81,478 - -
VAT 612,100 491,100 - -
Other creditors, accruals and
deferred income 5,381,223 5,875,506 - -
Directors' loan accounts 30,000 - 30,000 -
Accruals and deferred income 13,208,189 7,828,170 - -
Accrued expenses 6,000 1,860 - -
23,161,981 22,922,845 12,307,256 18,895,845

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Other loans (see note 18) 134,386 - 134,386 -

18. 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 overdrafts - - - 180
Other loans 1,834,321 6,756,016 1,834,321 6,756,016
1,834,321 6,756,016 1,834,321 6,756,196
Amounts falling due between one and two years:
Other loans - 1-2 years 134,386 - 134,386 -

19. SECURED DEBTS

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.

20. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 2,234 -

Other provisions 606,526 507,178

Aggregate amounts 608,760 507,178

Group
Deferred
tax Dilapidation
£    £   
Balance at 1 February 2023 (1,707 ) 606,526
Charge to Income Statement during year 3,941 -
Balance at 31 January 2024 2,234 606,526

E G LEWIS GROUP INDUSTRIAL SERVICES LTD (REGISTERED NUMBER: 14183375)

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

20. PROVISIONS FOR LIABILITIES - continued

Deferred tax assets and liabilities are offset where the group and company has a legally enforceable right to do so. The following analysis is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Group
2024 2023
Net Liability Net Asset
Balances: £    £   

ACAs 2,234 56,111
Other timing differences (57,818 )
2,234 (1,707 )

Dilapidation provisions relates to management best estimates of costs under the terms of the property lease agreement.

21. CALLED UP SHARE CAPITAL

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

Each Share is entitled to:
- One vote in any circumstances;
- Pari passu to dividend or any other distribution; and
- Full participation in capital distributions.

22. RESERVES

Group
Retained
earnings
£   

At 1 February 2023 (11,621 )
Profit for the year 6,593,428
Dividends (7,700,000 )
At 31 January 2024 (1,118,193 )


23. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they accrue. At the year end there were contributions of £8,989 outstanding (2023:£4,623)

24. POST BALANCE SHEET EVENTS

There were no events after the reporting period that are material for disclosure in the financial statements.

25. 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.