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REGISTERED NUMBER: 10536831 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GDA ELECTRICAL WHOLESALER LTD

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GDA ELECTRICAL WHOLESALER LTD

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: G P Sylvester
S P Hobbs
J Hobbs





REGISTERED OFFICE: Unit 1
Viking Industrial Estate
Hudson Road
Bedford
MK41 0LZ





REGISTERED NUMBER: 10536831 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 260,834 133,043

CURRENT ASSETS
Stocks 5 295,654 255,654
Debtors 6 1,663,736 1,719,764
Cash at bank and in hand 340,654 302,548
2,300,044 2,277,966
CREDITORS
Amounts falling due within one year 7 1,773,156 1,758,906
NET CURRENT ASSETS 526,888 519,060
TOTAL ASSETS LESS CURRENT LIABILITIES 787,722 652,103

CREDITORS
Amounts falling due after more than
one year

8

(184,282

)

(239,215

)

PROVISIONS FOR LIABILITIES 11 (13,671 ) (8,137 )
NET ASSETS 589,769 404,751

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 12 569,769 384,751
589,769 404,751

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


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 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 22 November 2023 and were signed on its behalf by:




G P Sylvester - Director J Hobbs - Director




S P Hobbs - Director


GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

GDA Electrical Wholesaler 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.

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.

CBILS Loan
Under the Coronavirus Business Interruption Loan Scheme (CBILS) within creditors is a loan of £108,333 This is to being repaid monthly over the next 4 years.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Land and buildings - 15% reducing balance
Plant and machinery - 33% on cost, 25% on reducing balance and 15% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 109,364 44,615 103,002 41,540 298,521
Additions 80,365 5,100 2,275 81,865 169,605
Disposals - - - (41,540 ) (41,540 )
At 31 March 2023 189,729 49,715 105,277 81,865 426,586
DEPRECIATION
At 1 April 2022 49,979 36,563 47,802 31,133 165,477
Charge for year 11,241 2,076 8,389 9,702 31,408
Eliminated on disposal - - - (31,133 ) (31,133 )
At 31 March 2023 61,220 38,639 56,191 9,702 165,752
NET BOOK VALUE
At 31 March 2023 128,509 11,076 49,086 72,163 260,834
At 31 March 2022 59,385 8,052 55,200 10,407 133,044

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 41,540
Additions 81,865
Disposals (41,540 )
At 31 March 2023 81,865
DEPRECIATION
At 1 April 2022 31,133
Charge for year 9,702
Eliminated on disposal (31,133 )
At 31 March 2023 9,702
NET BOOK VALUE
At 31 March 2023 72,163
At 31 March 2022 10,407

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


5. STOCKS
2023 2022
£    £   
Stocks 295,654 255,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,166,575 1,454,646
Other debtors 485,396 263,799
Prepayments 11,765 1,319
1,663,736 1,719,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 9) 50,000 50,000
Trade creditors 1,205,279 971,694
Amounts owed to group undertakings 13,480 -
Corporation tax 48,459 94,356
Social security and other taxes 16,867 112,863
VAT 44,551 -
Other creditors 358,042 492,312
Pension 2,802 -
Directors' loan accounts 30,176 32,556
Accrued expenses 3,500 5,125
1,773,156 1,758,906

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans (see note 9) 108,333 158,333
Hire purchase contracts (see note 10) 75,949 -
Other creditors - 80,882
184,282 239,215

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 50,000 50,000

Amounts falling due between one and two years:
Loan more than 1yr 50,000 50,000

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 58,333 108,333

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Between one and five years 75,949 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 31,618
Between one and five years - 65,614
- 97,232

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 13,671 8,137

Deferred
tax
£   
Balance at 1 April 2022 8,137
Charge to Income Statement during year 5,534
Balance at 31 March 2023 13,671

12. RESERVES
Retained
earnings
£   

At 1 April 2022 384,751
Profit for the year 265,018
Dividends (80,000 )
At 31 March 2023 569,769

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a director was owed £30,176 (2022 - £32,556). This loan is unsecured, interest free and repayable on demand.

GDA ELECTRICAL WHOLESALER LTD (REGISTERED NUMBER: 10536831)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


14. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as the shareholding is split equally between shareholders.