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REGISTERED NUMBER: 02689667 (England and Wales)















DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED

COMPANY INFORMATION
For The Year Ended 28 FEBRUARY 2023







DIRECTORS: M J Connor
Mrs E L Snowden





REGISTERED OFFICE: Sandy Way
Amington
Tamworth
Staffordshire
B77 4DS





REGISTERED NUMBER: 02689667 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 571,454 368,347
Investments 5 718,066 914,784
1,289,520 1,283,131

CURRENT ASSETS
Stocks 164,422 154,632
Debtors 6 326,033 326,645
Cash at bank and in hand 777,552 360,211
1,268,007 841,488
CREDITORS
Amounts falling due within one year 7 213,767 229,621
NET CURRENT ASSETS 1,054,240 611,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,343,760

1,894,998

PROVISIONS FOR LIABILITIES 43,295 -
NET ASSETS 2,300,465 1,894,998

CAPITAL AND RESERVES
Called up share capital 1,260 1,260
Revaluation reserve 8 161,136 161,136
Capital redemption reserve 1,840 1,840
Fair value reserve 8 210,000 -
Retained earnings 1,926,229 1,730,762
SHAREHOLDERS' FUNDS 2,300,465 1,894,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 November 2023 and were signed on its behalf by:





M J Connor - Director


DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Direct Electrical Supply (Tamworth) 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 as modified by the revaluation of certain assets.

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.
Freehold prop - not provided
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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.

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.

Investments
Investments are stated at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
prop fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 March 2022 340,000 26,709 59,740 426,449
Revaluations 210,000 - - 210,000
At 28 February 2023 550,000 26,709 59,740 636,449
DEPRECIATION
At 1 March 2022 - 22,797 35,305 58,102
Charge for year - 783 6,110 6,893
At 28 February 2023 - 23,580 41,415 64,995
NET BOOK VALUE
At 28 February 2023 550,000 3,129 18,325 571,454
At 28 February 2022 340,000 3,912 24,435 368,347

Cost or valuation at 28 February 2023 is represented by:

Fixtures
Freehold and Motor
prop fittings vehicles Totals
£    £    £    £   
Valuation in 2006 161,136 26,709 59,740 247,585
Valuation in 2023 210,000 - - 210,000
Cost 178,864 - - 178,864
550,000 26,709 59,740 636,449

If freehold property had not been revalued it would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 178,864 178,864

Freehold property was valued on an open market basis on 30 September 2023 by the directors .

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2022 914,784
Additions 168,994
Disposals (378,903 )
Revaluations 13,191
At 28 February 2023 718,066
NET BOOK VALUE
At 28 February 2023 718,066
At 28 February 2022 914,784

Cost or valuation at 28 February 2023 is represented by:

Other
investments
£   
Valuation in 2019 46,541
Cost 671,525
718,066

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 319,066 320,888
Other debtors 6,967 5,757
326,033 326,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 119,951 142,879
Taxation and social security 86,676 81,255
Other creditors 7,140 5,487
213,767 229,621

8. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 March 2022 161,136 - 161,136
Revaluation of freehold property - 210,000 210,000

At 28 February 2023 161,136 210,000 371,136

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


9. ULTIMATE CONTROLLING PARTY

The controlling party is M J Connor.