| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| ELLISON WIRE PRODUCTS LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| ELLISON WIRE PRODUCTS LIMITED |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELLISON WIRE PRODUCTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Medina House |
| 2 Station Avenue |
| Bridlington |
| East Yorkshire |
| YO16 4LZ |
| BANKERS: |
| Leicester |
| Leicestershire |
| LE87 2BB |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 30.11.24 | 30.11.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Revaluation reserve | 12 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| BALANCE SHEET - continued |
| 30 NOVEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Ellison Wire Products Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention. |
| The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continued financial support of the director shareholders. The director shareholders of the company have confirmed that this support will continue. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable from wire manufacturing and export excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised on supply of the goods. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business in 2010, has been amortised evenly over its estimated useful life of three years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Plant and machinery has been shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 the statement of income and retained earnings 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 has implemented automatic enrolment into a workplace pension scheme in relation to all employees. |
| All contributions payable for the year are charged to the statement of income and retained earnings account in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| AMORTISATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 December 2023 |
| Additions |
| Revaluations | ( |
) | ( |
) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| Revaluation adjustments | ( |
) | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Cost or valuation at 30 November 2024 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2010 | - | 419,942 | 419,942 |
| Valuation in 2024 | - | (494,717 | ) | (494,717 | ) |
| Cost | 11,547 | 768,341 | 779,888 |
| 11,547 | 693,566 | 705,113 |
| If plant and machinery had not been revalued they would have been included at the following historical cost: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Cost | 612,823 | 605,823 |
| Aggregate depreciation | 236,066 | 191,668 |
| Plant and machinery was valued on an open market basis basis on 30 November 2024 by the directors . |
| The net book value of tangible fixed assets includes £ 337,859 (2023 - £ 375,430 ) in respect of assets held under hire purchase contracts. |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts owed to group undertakings |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Hire purchase contracts | 270,870 | 337,731 |
| Invoice discounting facility | 307,843 | 537,931 |
| ELLISON WIRE PRODUCTS LIMITED (REGISTERED NUMBER: 07111211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | £ | £ |
| NIL | Ordinary | £1 | - | 20,000 |
| 10,000 | Ordinary A | £1 | 10,000 | 1 |
| 500,000 | Ordinary B | £1 | 500,000 | 500,000 |
| 10,000 | Ordinary C | £1 | 10,000 | - |
| 600,000 | Ordinary D | £1 | 600,000 | - |
| 1 | Ordinary E | £1 | 1 | - |
| 1,120,001 | 520,001 |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | £ | £ |
| 600,000 | Ordinary D | £1 | 600,000 | - |
| The following shares were issued during the year for cash at par: |
| 600,000 Ordinary D shares of £1 |
| During the year, the company redesignated aspects of its share capital as follows: |
| 20,000 Ordinary shares into 10,000 Ordinary A and 10,000 Ordinary C shares. |
| 1 Ordinary A share into 1 Ordinary E share. |
| 12. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 December 2023 |
| Revaluation provision and depreciation release |
50,331 |
| At 30 November 2024 |