Elsby & Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08640427 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

ELSBY & COMPANY LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A Elsby

Mrs C V Emery

Mrs L Bateman

REGISTERED OFFICE:

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

REGISTERED NUMBER:

08640427 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

4

244,298

265,619

Tangible assets

5

68,192

56,946

Investments

6

-

20,000

312,490

342,565

CURRENT ASSETS

Debtors

531,684

474,520

Cash at bank

104,712

62,027

636,396

536,547

CREDITORS

Amounts falling due within one year

377,114

308,894

NET CURRENT ASSETS

259,282

227,653

TOTAL ASSETS LESS CURRENT LIABILITIES

571,772

570,218

CREDITORS

Amounts falling due after more than one year

(185,778

)

(124,667

)

PROVISIONS FOR LIABILITIES

(9,855

)

(9,061

)

NET ASSETS

376,139

436,490

CAPITAL AND RESERVES

Called up share capital

297,163

297,163

Capital redemption reserve

36,726

36,726

Retained earnings

42,250

102,601

SHAREHOLDERS' FUNDS

376,139

436,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2020 and were signed on its behalf by:

C A Elsby - Director

1.	STATUTORY INFORMATION

Elsby & Company Ltd 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 represents revenues receivable under contracts, net of value added tax. Where contractual obligations have

been partially performed at the balance sheet date revenue is recognised to the extent that the company has obtained the

right to consideration through its performance.

Goodwill

Goodwill, being the amount paid in connection with acquisitions in 2013 and 2016, is being amortised evenly over its

estimated useful life of four and fifteen years respectively.

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

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, 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.

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 34 (2019 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

763,168

Disposals

(21,873

)

At 31 March 2020

741,295

AMORTISATION

At 1 April 2019

497,549

Amortisation for year

21,321

Eliminated on disposal

(21,873

)

At 31 March 2020

496,997

NET BOOK VALUE

At 31 March 2020

244,298

At 31 March 2019

265,619

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

144,185

Additions

35,682

At 31 March 2020

179,867

DEPRECIATION

At 1 April 2019

87,239

Charge for year

24,436

At 31 March 2020

111,675

NET BOOK VALUE

At 31 March 2020

68,192

At 31 March 2019

56,946

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2019

20,021

Disposals

(20,021

)

At 31 March 2020

-

PROVISIONS

At 1 April 2019

21

Eliminated on disposal

(21

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

20,000

7.	LEASING AGREEMENTS

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

2020

2019

£

£

Within one year

20,000

20,000

Between one and five years

8,333

28,333

28,333

48,333

8.	SECURED DEBTS

The bank loan balance of £56,667 is secured by a Personal Guarantee provided by C A Elsby. Within Other Creditors are

loan balances of £100,792 which are secured by a fixed charge on the company's assets.