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REGISTERED NUMBER: 00846529 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ELPHICK BROS. PLASTERING LIMITED

ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELPHICK BROS. PLASTERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M Elphick
D B Lock
J A Taylor





REGISTERED OFFICE: 30-34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 00846529 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 65,046 83,905

CURRENT ASSETS
Stocks 100,000 51,500
Debtors 5 279,028 256,519
Cash at bank 77,816 77,754
456,844 385,773
CREDITORS
Amounts falling due within one year 6 (325,574 ) (241,607 )
NET CURRENT ASSETS 131,270 144,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,316

228,071

CREDITORS
Amounts falling due after more than one
year

7

(28,435

)

(45,093

)
NET ASSETS 167,881 182,978

CAPITAL AND RESERVES
Called up share capital 8 254 254
Retained earnings 167,627 182,724
SHAREHOLDERS' FUNDS 167,881 182,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





M Elphick - Director


ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

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

1. STATUTORY INFORMATION

Elphick Bros. Plastering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

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.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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.


ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Remedial work
These financial statements do not reflect monies retained by a contractor/customer of the company to cover remedial work. Such monies are recognised, if appropriate, once agreement is reached with the contractor/customer regarding the cost of the remedial work (if any) within the appropriate period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 54,142 151,885 206,027
Additions 1,324 - 1,324
At 31 May 2024 55,466 151,885 207,351
DEPRECIATION
At 1 June 2023 48,568 73,554 122,122
Charge for year 600 19,583 20,183
At 31 May 2024 49,168 93,137 142,305
NET BOOK VALUE
At 31 May 2024 6,298 58,748 65,046
At 31 May 2023 5,574 78,331 83,905

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 70,620
DEPRECIATION
At 1 June 2023 7,768
Charge for year 15,713
At 31 May 2024 23,481
NET BOOK VALUE
At 31 May 2024 47,139
At 31 May 2023 62,852

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 244,184 212,887
Other debtors 34,844 43,632
279,028 256,519

ELPHICK BROS. PLASTERING LIMITED (REGISTERED NUMBER: 00846529)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 12,880 12,880
Trade creditors 36,287 48,649
Amounts owed to group undertakings 239,394 139,394
Taxation and social security 10,339 15,806
Other creditors 26,674 24,878
325,574 241,607

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 28,435 45,093

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2
132 Ordinary A 1 132 132
120 Ordinary B & C 1 120 120
254 254