Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr D P Arthurs 28/09/2022 01/07/2018 Mrs J L Blower 14/12/2006 Mr C D Broad 01/07/2018 Mr D A Gray 06/04/1993 Mr I D Gray 14/12/2006 Mrs M A Gray 06/04/1993 Mr N J Menhenitt 16/05/2022 14/12/2006 Mr D M Symons 01/07/2018 19 October 2023 The principal activity of the Company during the financial year was that of the wholesale of electrical components and online retail sales. 02807157 2023-03-31 02807157 bus:Director1 2023-03-31 02807157 bus:Director2 2023-03-31 02807157 bus:Director3 2023-03-31 02807157 bus:Director4 2023-03-31 02807157 bus:Director5 2023-03-31 02807157 bus:Director6 2023-03-31 02807157 bus:Director7 2023-03-31 02807157 bus:Director8 2023-03-31 02807157 2022-03-31 02807157 core:CurrentFinancialInstruments 2023-03-31 02807157 core:CurrentFinancialInstruments 2022-03-31 02807157 core:Non-currentFinancialInstruments 2023-03-31 02807157 core:Non-currentFinancialInstruments 2022-03-31 02807157 core:ShareCapital 2023-03-31 02807157 core:ShareCapital 2022-03-31 02807157 core:RetainedEarningsAccumulatedLosses 2023-03-31 02807157 core:RetainedEarningsAccumulatedLosses 2022-03-31 02807157 core:LandBuildings 2022-03-31 02807157 core:PlantMachinery 2022-03-31 02807157 core:Vehicles 2022-03-31 02807157 core:FurnitureFittings 2022-03-31 02807157 core:LandBuildings 2023-03-31 02807157 core:PlantMachinery 2023-03-31 02807157 core:Vehicles 2023-03-31 02807157 core:FurnitureFittings 2023-03-31 02807157 bus:OrdinaryShareClass1 2023-03-31 02807157 2022-04-01 2023-03-31 02807157 bus:FullAccounts 2022-04-01 2023-03-31 02807157 bus:SmallEntities 2022-04-01 2023-03-31 02807157 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02807157 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02807157 bus:Director1 2022-04-01 2023-03-31 02807157 bus:Director2 2022-04-01 2023-03-31 02807157 bus:Director3 2022-04-01 2023-03-31 02807157 bus:Director4 2022-04-01 2023-03-31 02807157 bus:Director5 2022-04-01 2023-03-31 02807157 bus:Director6 2022-04-01 2023-03-31 02807157 bus:Director7 2022-04-01 2023-03-31 02807157 bus:Director8 2022-04-01 2023-03-31 02807157 core:LandBuildings 2022-04-01 2023-03-31 02807157 core:PlantMachinery 2022-04-01 2023-03-31 02807157 core:Vehicles 2022-04-01 2023-03-31 02807157 core:FurnitureFittings 2022-04-01 2023-03-31 02807157 2021-04-01 2022-03-31 02807157 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 02807157 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 02807157 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 02807157 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02807157 (England and Wales)

G AND R ELECTRICAL WHOLESALERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

G AND R ELECTRICAL WHOLESALERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

G AND R ELECTRICAL WHOLESALERS LIMITED

BALANCE SHEET

As at 31 March 2023
G AND R ELECTRICAL WHOLESALERS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 195,746 185,754
195,746 185,754
Current assets
Stocks 1,454,617 1,080,500
Debtors 4 2,249,388 1,831,786
Cash at bank and in hand 212,350 607,984
3,916,355 3,520,270
Creditors: amounts falling due within one year 5 ( 2,917,914) ( 2,599,150)
Net current assets 998,441 921,120
Total assets less current liabilities 1,194,187 1,106,874
Creditors: amounts falling due after more than one year 6 ( 12,771) ( 21,168)
Provision for liabilities ( 25,841) ( 33,562)
Net assets 1,155,575 1,052,144
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 1,154,575 1,051,144
Total shareholder's funds 1,155,575 1,052,144

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of G and R Electrical Wholesalers Limited (registered number: 02807157) were approved and authorised for issue by the Board of Directors on 19 October 2023. They were signed on its behalf by:

Mr I D Gray
Director
G AND R ELECTRICAL WHOLESALERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
G AND R ELECTRICAL WHOLESALERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

G and R Electrical Wholesalers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Drakes Court Eagle Road, Langage Business Park, Plympton, Plymouth, PL7 5JY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 25 % reducing balance
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 45 49

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2022 102,722 123,137 139,860 121,610 487,329
Additions 0 0 70,242 18,819 89,061
Disposals 0 0 ( 32,713) 0 ( 32,713)
At 31 March 2023 102,722 123,137 177,389 140,429 543,677
Accumulated depreciation
At 01 April 2022 87,259 117,382 66,530 30,404 301,575
Charge for the financial year 3,866 1,445 32,444 27,513 65,268
Disposals 0 0 ( 18,912) 0 ( 18,912)
At 31 March 2023 91,125 118,827 80,062 57,917 347,931
Net book value
At 31 March 2023 11,597 4,310 97,327 82,512 195,746
At 31 March 2022 15,463 5,755 73,330 91,206 185,754

4. Debtors

2023 2022
£ £
Trade debtors 2,213,400 1,783,412
Other debtors 35,988 48,374
2,249,388 1,831,786

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,155,084 1,778,694
Amounts owed to Group undertakings 425,348 350,000
Corporation tax 187,485 207,880
Other taxation and social security 71,424 195,924
Obligations under finance leases and hire purchase contracts 8,397 7,748
Other creditors 70,176 58,904
2,917,914 2,599,150

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 12,771 21,168

The finance leases included above are secured against the assets to which they relate.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Ultimate controlling party

Parent Company:

G and R Electrical Wholesalers (Holdings) Limited.

The financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.