REGISTERED NUMBER: 00086011 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ELGOOD & SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N S Elgood

Mrs B M Sutton

Mrs J A Everall

Mrs A M Elgood

SECRETARY:

Mrs J A Everall

REGISTERED OFFICE:

North Brink Brewery

Wisbech

Cambridgeshire

PE13 1LN

REGISTERED NUMBER:

00086011 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

BANKERS:

Barclays Bank PLC

FIXED ASSETS

Tangible assets

4

3,892,262

3,918,046

Investments

5

168,204

168,204

Investment property

6

1,915,000

2,055,000

5,975,466

6,141,250

CURRENT ASSETS

Stocks

149,448

148,695

Debtors

7

479,703

329,171

Cash at bank and in hand

11,750

9,308

640,901

487,174

CREDITORS

Amounts falling due within one year

8

460,010

546,550

NET CURRENT ASSETS/(LIABILITIES)

180,891

(59,376

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,156,357

6,081,874

CREDITORS

Amounts falling due after more than one year

9

(1,066,792

)

(1,130,245

)

PROVISIONS FOR LIABILITIES

(367,252

)

(341,341

)

NET ASSETS

4,722,313

4,610,288

CAPITAL AND RESERVES

Called up share capital

50,011

50,011

Revaluation reserve

12

1,479,226

1,588,144

Capital redemption reserve

18,705

18,705

Other distributable reserves

3,404,149

3,144,629

Retained earnings

(229,778

)

(191,201

)

SHAREHOLDERS' FUNDS

4,722,313

4,610,288

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:

Mrs B M Sutton - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the pound sterling (£).

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 as modified by the revaluation of certain assets.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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.

%

Office equipment

10

straight line

Plant & Machinery

10

straight line

Computer equipment

25

straight line

Motor vehicles - other

25

reducing balance

Motor vehicles - lorries

10

reducing balance

Cellar equipment

10

reducing balance

No provision has been made for depreciation of freehold properties. The directors are of the opinion that the recoverable amount of the freehold properties is in excess of the carrying value of that class of assets. This has been clearly demonstrated by the profits on disposal of properties in recent years and an annual impairment review is performed by the directors to ensure no change to this opinion has occurred.

Investment property

Property held in order to earn rentals or for capital appreciation, rather than use in the production or supply of goods or services or for administrative purposes, is classified as an investment property. The Company owns a number of unlicensed properties which are classified as investment property.

Investment property is carried at fair value determined annually by external valuers or based on the opinion of the board of directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

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 has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument, and are offset only when the Company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

3,771,864

2,326,466

419,647

148,455

6,666,432

Additions

32,909

3,397

4,123

-

40,429

Disposals

(47,896

)

(38

)

-

(12,850

)

(60,784

)

At 31 December 2024

3,756,877

2,329,825

423,770

135,605

6,646,077

DEPRECIATION

At 1 January 2024

-

2,291,035

338,957

118,394

2,748,386

Charge for year

-

4,497

8,666

4,370

17,533

Eliminated on disposal

-

(38

)

-

(12,066

)

(12,104

)

At 31 December 2024

-

2,295,494

347,623

110,698

2,753,815

NET BOOK VALUE

At 31 December 2024

3,756,877

34,331

76,147

24,907

3,892,262

At 31 December 2023

3,771,864

35,431

80,690

30,061

3,918,046

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

168,204

NET BOOK VALUE

At 31 December 2024

168,204

At 31 December 2023

168,204

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

Elgood & Sons (Export) Limited

Registered office: North Brink Brewery, Wisbech, Cambridgeshire, PE13 1LN

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

£

£

Aggregate capital and reserves

10,532

10,532

Brewery Gardens Limited

Registered office: North Brink Brewery, Wisbech, Cambridgeshire, PE13 1LN

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

£

£

Aggregate capital and reserves

163,001

163,001

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

2,055,000

Additions

157

Disposals

(140,000

)

Revaluations

(157

)

At 31 December 2024

1,915,000

NET BOOK VALUE

At 31 December 2024

1,915,000

At 31 December 2023

2,055,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

1,915,000

7.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

219,923

260,371

Other debtors

207,321

49,648

427,244

310,019

Amounts falling due after more than one year:

Other debtors

52,459

19,152

Aggregate amounts

479,703

329,171

Included within other debtors is an amount of £139,927 which represents the present value of a non interest bearing loan. The terms of this are that it will be interest free for the 18 months from 11 November 2024. The present value has been calculated using 2% above the base rate.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

231,427

288,295

Trade creditors

107,778

176,538

Taxation and social security

41,010

44,193

Other creditors

79,795

37,524

460,010

546,550

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

5,000

15,000

Amounts owed to group undertakings

173,501

173,501

Other creditors

888,291

941,744

1,066,792

1,130,245

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

5,267

1,788

Between one and five years

12,564

5,366

17,831

7,154

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

221,395

278,242

The bank overdraft is secured on freehold properties.

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

1,588,144

Movement for the year

(108,918

)

At 31 December 2024

1,479,226