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REGISTERED NUMBER: 05000504 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

SAAB ELECTRICAL WHOLESALERS LTD

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAAB ELECTRICAL WHOLESALERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mr Harjit Singh Virdee
Mr Sarbjit Singh





SECRETARY: Mr Harjit Singh Virdee





REGISTERED OFFICE: 553-557 Warwick Road
Tysley
West Midlands
B11 2EX





REGISTERED NUMBER: 05000504 (England and Wales)





ACCOUNTANTS: Ark Aurora Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 60,000
Tangible assets 5 35,644 37,464
95,644 97,464

CURRENT ASSETS
Stocks 6 35,645 41,570
Debtors 7 21,025 32,794
Cash at bank and in hand 88,579 71,868
145,249 146,232
CREDITORS
Amounts falling due within one year 8 137,063 136,265
NET CURRENT ASSETS 8,186 9,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,830

107,431

CREDITORS
Amounts falling due after more than one
year

9

-

3,620
NET ASSETS 103,830 103,811

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 103,330 103,311
SHAREHOLDERS' FUNDS 103,830 103,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

BALANCE SHEET - continued
30 APRIL 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 29 January 2024 and were signed on its behalf by:





Mr Sarbjit Singh - Director


SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Saab Electrical Wholesalers 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of nil 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.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% 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.

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 60,000
NET BOOK VALUE
At 30 April 2023 60,000
At 30 April 2022 60,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022
and 30 April 2023 28,724 20,593 11,802
DEPRECIATION
At 1 May 2022 - 14,293 9,436
Charge for year - 1,575 237
At 30 April 2023 - 15,868 9,673
NET BOOK VALUE
At 30 April 2023 28,724 4,725 2,129
At 30 April 2022 28,724 6,300 2,366

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 500 3,092 64,711
DEPRECIATION
At 1 May 2022 425 3,093 27,247
Charge for year 8 - 1,820
At 30 April 2023 433 3,093 29,067
NET BOOK VALUE
At 30 April 2023 67 (1 ) 35,644
At 30 April 2022 75 (1 ) 37,464

6. STOCKS
30.4.23 30.4.22
£    £   
Stocks 35,645 41,570

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 21,025 32,794

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 29,542 23,936
Tax 9,893 14,703
Social security and other taxes 79 -
VAT 3,838 4,975
Other creditors 45,530 42,576
Directors' current accounts 47,231 49,125
Accrued expenses 950 950
137,063 136,265

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Hire purchase contracts - 3,620

SAAB ELECTRICAL WHOLESALERS LTD (REGISTERED NUMBER: 05000504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr HS Virdee and Mr S Singh.