Ellisons Estate Agents Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07533420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ELLISONS ESTATE AGENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Purtill

REGISTERED OFFICE:

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

BUSINESS ADDRESS:

13 Queens Road

Wimbledon

London

SW19 8PF

REGISTERED NUMBER:

07533420 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Intangible assets

4

497,776

559,999

Tangible assets

5

102,334

98,676

600,110

658,675

CURRENT ASSETS

Debtors

6

2,458,507

2,344,605

Cash at bank and in hand

581,981

957,204

3,040,488

3,301,809

CREDITORS

Amounts falling due within one year

7

1,987,189

1,926,581

NET CURRENT ASSETS

1,053,299

1,375,228

TOTAL ASSETS LESS CURRENT LIABILITIES

1,653,409

2,033,903

CREDITORS

Amounts falling due after more than one year

8

187,076

162,500

NET ASSETS

1,466,333

1,871,403

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,466,233

1,871,303

SHAREHOLDERS' FUNDS

1,466,333

1,871,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 20 February 2024 and were signed by:

S Purtill - Director

1.	STATUTORY INFORMATION

Ellisons Estate Agents 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.

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.

Turnover

Turnover is measured at fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Land and buildings - over 21 & 7 year lease term

Financial instruments

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account in other

administrative expenses.

Bank loans are initially recognised at transaction price, which includes any transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 36 (2022 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

1,400,000

AMORTISATION

At 1 April 2022

840,001

Charge for year

62,223

At 31 March 2023

902,224

NET BOOK VALUE

At 31 March 2023

497,776

At 31 March 2022

559,999

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

110,404

225,064

335,468

Additions

-

24,762

24,762

At 31 March 2023

110,404

249,826

360,230

DEPRECIATION

At 1 April 2022

19,695

217,097

236,792

Charge for year

10,461

10,643

21,104

At 31 March 2023

30,156

227,740

257,896

NET BOOK VALUE

At 31 March 2023

80,248

22,086

102,334

At 31 March 2022

90,709

7,967

98,676

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2022

34,534

Additions

24,762

At 31 March 2023

59,296

DEPRECIATION

At 1 April 2022

34,534

Charge for year

6,190

At 31 March 2023

40,724

NET BOOK VALUE

At 31 March 2023

18,572

At 31 March 2022

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

167,172

252,621

Other debtors

2,291,335

2,091,984

2,458,507

2,344,605

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

71,197

50,000

Hire purchase contracts (see note 9)

3,323

-

Trade creditors

66,155

66,929

Taxation and social security

243,453

321,576

Other creditors

1,603,061

1,488,076

1,987,189

1,926,581

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

169,882

162,500

Hire purchase contracts (see note 9)

17,194

-

187,076

162,500

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

3,323

-

Between one and five years

17,194

-

20,517

-

Non-cancellable operating

leases

2023

2022

£

£

Within one year

181,636

164,300

Between one and five years

666,990

598,700

In more than five years

675,458

768,292

1,524,084

1,531,292

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the company was owed £776,534 (2022 - £709,650) by S A Purtill in respect of his director's loan account. The amount is unsecured, has no fixed repayment terms and bears interest at the HM Revenue & Customs official rate.