Paul Ellis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07407573 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2019

for

Paul Ellis Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Paul J Ellis

Mrs Beverly J Ellis

REGISTERED OFFICE:

ASM House

103A Keymer Road

Hassocks

West Sussex

BN6 8QL

REGISTERED NUMBER:

07407573 (England and Wales)

FIXED ASSETS

Intangible assets

4

114,845

217,350

Tangible assets

5

971,689

980,463

1,086,534

1,197,813

CURRENT ASSETS

Stocks

19,500

19,715

Debtors

6

453

1,222

Cash at bank and in hand

30,799

46,492

50,752

67,429

CREDITORS

Amounts falling due within one year

7

136,015

90,019

NET CURRENT LIABILITIES

(85,263

)

(22,590

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,001,271

1,175,223

CREDITORS

Amounts falling due after more than one year

8

(737,246

)

(876,125

)

PROVISIONS FOR LIABILITIES

(30,346

)

(22,104

)

NET ASSETS

233,679

276,994

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

9

233,479

276,794

SHAREHOLDERS' FUNDS

233,679

276,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2020 and were signed on its behalf by:

Paul J Ellis - Director

1.	STATUTORY INFORMATION

Paul Ellis 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

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.

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

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 10 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2018

and 30 November 2019

1,025,053

AMORTISATION

At 1 December 2018

807,703

Charge for year

102,505

At 30 November 2019

910,208

NET BOOK VALUE

At 30 November 2019

114,845

At 30 November 2018

217,350

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2018

808,714

336,730

1,145,444

Additions

-

6,225

6,225

At 30 November 2019

808,714

342,955

1,151,669

DEPRECIATION

At 1 December 2018

-

164,981

164,981

Charge for year

-

14,999

14,999

At 30 November 2019

-

179,980

179,980

NET BOOK VALUE

At 30 November 2019

808,714

162,975

971,689

At 30 November 2018

808,714

171,749

980,463

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

453

1,222

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans and overdrafts

38,247

1,543

Hire purchase contracts

14,316

16,172

Trade creditors

27,777

4,609

Taxation and social security

43,593

63,042

Other creditors

12,082

4,653

136,015

90,019

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans

737,246

862,978

Hire purchase contracts

-

13,147

737,246

876,125

Amounts falling due in more than five years:

Repayable by instalments

Santander Loan 13112115

223,475

262,462

re Elm Park

342,774

400,534

re Elm Park

170,997

199,982

737,246

862,978

9.

RESERVES

Retained

earnings

£

At 1 December 2018

276,794

Profit for the year

52,685

Dividends

(96,000

)

At 30 November 2019

233,479