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Registration number: 04885779

E-Z-Rect Holdings Limited

Filleted Financial Statements

for the Year Ended 30 September 2024

 

E-Z-Rect Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

E-Z-Rect Holdings Limited

Company Information

Directors

Mr G A Morton

Mrs H J Morton

Mr G G Gilbert

Mr M Druker

Registered office

Witan Park
Avenue Two
Station Lane
Witney
OX28 4FH

Auditors

Just Audit & Assurance Ltd
Statutory Auditor
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

E-Z-Rect Holdings Limited

(Registration number: 04885779)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

275,610

287,453

Investments

5

100

100

Other financial assets

6

9

9

 

275,719

287,562

Current assets

 

Debtors

7

228,769

44,416

Cash at bank and in hand

 

9,216

107,844

 

237,985

152,260

Creditors: Amounts falling due within one year

8

(140,603)

(100,176)

Net current assets

 

97,382

52,084

Net assets

 

373,101

339,646

Capital and reserves

 

Called up share capital

9

200

200

Share premium reserve

57,890

57,890

Retained earnings

315,011

281,556

Shareholders' funds

 

373,101

339,646

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr G A Morton
Director

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Witan Park
Avenue Two
Station Lane
Witney
OX28 4FH

These financial statements were authorised for issue by the Board on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 18 March 2025 was Jonathan Russell, who signed for and on behalf of Just Audit & Assurance Ltd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Government grants

Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

straight line over fifty years

Plant and machinery

15% reducing balance

Motor vehicles

25% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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 provision 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Freehold land and buildings
£

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

308,227

305

36,650

345,182

At 30 September 2024

308,227

305

36,650

345,182

Depreciation

At 1 October 2023

53,616

295

3,818

57,729

Charge for the year

2,680

1

9,162

11,843

At 30 September 2024

56,296

296

12,980

69,572

Carrying amount

At 30 September 2024

251,931

9

23,670

275,610

At 30 September 2023

254,611

10

32,832

287,453

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 October 2023

100

At 30 September 2024

100

Carrying amount

At 30 September 2024

100

At 30 September 2023

100

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

E-Z Rect Limited

Unit 8c
Witan Park
Avenue Two
Station Lane
Witney
Oxon
OX28 4FH

England and Wales

Ordinary shares

100%

100%

Subsidiary undertakings

E-Z Rect Limited

The principal activity of E-Z Rect Limited is the sale and distribution of storage shelving.

6

Other investments

Unlisted investments
£

Total
£

Cost or valuation

At 1 October 2023

9

9

At 30 September 2024

9

9

Carrying amount

At 30 September 2024

9

9

At 30 September 2023

9

9

 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

7

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

227,198

39,363

Prepayments

 

1,471

4,953

Other debtors

 

100

100

 

228,769

44,416

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

39,064

44,112

Accruals and deferred income

98,175

54,712

Other creditors

3,364

1,352

140,603

100,176

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

       

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £2,000.00 (2023 - £1,500.00) per each Ordinary share

200,000

300,000

 

 
 

E-Z-Rect Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

156,654

147,573

12

Parent and ultimate parent undertaking

The ultimate controlling party is G A Morton and E-Z-Rect Manufacturing Ltd, the joint shareholders of E-Z-Rect Holdings Limited.