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Registered number: 07350235
Electrical Wholesale Supplies (Swansea) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07350235
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,985 45,313
33,985 45,313
CURRENT ASSETS
Stocks 5 149,319 155,541
Debtors 6 581,288 436,534
Cash at bank and in hand 184,947 302,110
915,554 894,185
Creditors: Amounts Falling Due Within One Year 7 (577,764 ) (561,367 )
NET CURRENT ASSETS (LIABILITIES) 337,790 332,818
TOTAL ASSETS LESS CURRENT LIABILITIES 371,775 378,131
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (8,496 ) (8,609 )
NET ASSETS 363,279 369,522
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 363,179 369,422
SHAREHOLDERS' FUNDS 363,279 369,522
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Malcolm Coady
Director
21/05/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Electrical Wholesale Supplies (Swansea) Limited Registered number 07350235 is a limited by shares company incorporated in England & Wales. The Registered Office is Celtic House Caxton Place, Pentwyn, Cardiff, South Glamorgan, CF23 8HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Strightline Method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 5 5
Sales, marketing and distribution 5 4
10 9
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 59,426 22,034 18,319 99,779
As at 31 December 2023 59,426 22,034 18,319 99,779
Depreciation
As at 1 January 2023 20,354 15,793 18,319 54,466
Provided during the period 9,768 1,560 - 11,328
As at 31 December 2023 30,122 17,353 18,319 65,794
Net Book Value
As at 31 December 2023 29,304 4,681 - 33,985
As at 1 January 2023 39,072 6,241 - 45,313
5. Stocks
2023 2022
£ £
Stock 149,319 155,541
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 568,614 424,352
Prepayments and accrued income 8,859 8,367
Other debtors 3,815 3,815
581,288 436,534
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 374,432 400,216
Corporation tax 98,343 70,178
Other taxes and social security 9,958 -
VAT 36,606 40,634
Other creditors 24,923 1,545
Accrued expenses 3,341 3,731
Directors' loan accounts 30,161 45,063
577,764 561,367
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8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 8,496 8,609
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
Ordinary Shares consist of:
1 Ordinary A
10 Ordinary B
1 Ordinary C
10 Ordinary D
10 Ordinary E
5 Ordinary F
5 Ordinary G
10 Ordinary H
24 Ordinary I
24 Ordinary J
10. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 302,000 320,429
11. Related Party Transactions
As on balance sheet date the company owed the directors £30,161 (2022: £45,063). 

During the year dividends voted and paid to the shareholders were £278,543 (2022: £320,429).
12. Ultimate Controlling Party
The company's ultimate controlling party are the directors and their spouses by virtue of their combined ownership of 50% of the issued share capital in the company.
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