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REGISTERED NUMBER: 01813164 (England and Wales)















ETC ELECTRICAL SUPPLIES LTD

Unaudited Financial Statements for the Year Ended 31 May 2023






ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

ETC ELECTRICAL SUPPLIES LTD

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S R D Booth
S L Booth





SECRETARY: Mrs S L Booth





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 01813164 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,712 33,209

CURRENT ASSETS
Stocks 267,928 264,986
Debtors 5 138,390 149,189
Cash at bank and in hand 137,336 180,706
543,654 594,881
CREDITORS
Amounts falling due within one year 6 146,311 171,357
NET CURRENT ASSETS 397,343 423,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,055

456,733

PROVISIONS FOR LIABILITIES 5,149 7,474
NET ASSETS 415,906 449,259

CAPITAL AND RESERVES
Called up share capital 8 11,999 11,999
Retained earnings 403,907 437,260
SHAREHOLDERS' FUNDS 415,906 449,259

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

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

ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Balance Sheet - continued
31 May 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 7 February 2024 and were signed on its behalf by:





S R D Booth - Director


ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

ETC Electrical Supplies 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost

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

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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.


ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


2. ACCOUNTING POLICIES - continued
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
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 and a self-administered pension scheme. Contributions payable to the company's pension schemes 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 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 53,675 32,424 86,099
DEPRECIATION
At 1 June 2022 37,078 15,812 52,890
Charge for year 3,412 6,085 9,497
At 31 May 2023 40,490 21,897 62,387
NET BOOK VALUE
At 31 May 2023 13,185 10,527 23,712
At 31 May 2022 16,597 16,612 33,209

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 135,816 146,240
Prepayments 2,574 2,949
138,390 149,189

ETC ELECTRICAL SUPPLIES LTD (REGISTERED NUMBER: 01813164)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 103,711 117,002
Taxation and social security 35,579 49,627
Other creditors 7,021 4,728
146,311 171,357

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 4,941 12,664
Between one and five years 706 4,941
5,647 17,605

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
11,999 Ordinary 1.00 11,999 11,999

9. RELATED PARTY DISCLOSURES

During the year, rent was paid to the company's self-administered pension scheme, in respect of the company's operating premises, amounting to £21,426.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors..

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
ETC Electrical Supplies Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ETC Electrical Supplies Ltd for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ETC Electrical Supplies Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ETC Electrical Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of ETC Electrical Supplies Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ETC Electrical Supplies Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ETC Electrical Supplies Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ETC Electrical Supplies Ltd. You consider that ETC Electrical Supplies Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ETC Electrical Supplies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


20 February 2024