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REGISTERED NUMBER: 04220545 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st December 2023

for

N E Electrical Wholesalers Limited

N E Electrical Wholesalers Limited (Registered number: 04220545)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

N E Electrical Wholesalers Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: J A Steade
M J Simmonite
A R Fletcher
J Ulley
R Smith





SECRETARY: J A Steade





REGISTERED OFFICE: 8 Shepcote Office Village
Shepcote Lane
Sheffield
S9 1TG





REGISTERED NUMBER: 04220545 (England and Wales)





ACCOUNTANTS: Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG

N E Electrical Wholesalers Limited (Registered number: 04220545)

Statement of Financial Position
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,009 62,525

CURRENT ASSETS
Stocks 878,501 1,017,826
Debtors 5 1,931,157 1,444,389
Cash at bank 26,508 62,130
2,836,166 2,524,345
CREDITORS
Amounts falling due within one year 6 1,838,266 1,514,638
NET CURRENT ASSETS 997,900 1,009,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,138,909

1,072,232

PROVISIONS FOR LIABILITIES 35,202 15,570
NET ASSETS 1,103,707 1,056,662

CAPITAL AND RESERVES
Called up share capital 8 22,000 22,000
Capital redemption reserve 28,000 28,000
Retained earnings 1,053,707 1,006,662
SHAREHOLDERS' FUNDS 1,103,707 1,056,662

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

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

N E Electrical Wholesalers Limited (Registered number: 04220545)

Statement of Financial Position - continued
31st December 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 6th March 2024 and were signed on its behalf by:





M J Simmonite - Director


N E Electrical Wholesalers Limited (Registered number: 04220545)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

N E Electrical Wholesalers 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.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 15% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss.If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

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.

Currency presentation
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.
Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

N E Electrical Wholesalers Limited (Registered number: 04220545)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2023 77,583 66,705 20,520
Additions - 14,787 -
Disposals - - -
At 31st December 2023 77,583 81,492 20,520
DEPRECIATION
At 1st January 2023 77,583 39,422 17,695
Charge for year - 6,106 392
Eliminated on disposal - - -
At 31st December 2023 77,583 45,528 18,087
NET BOOK VALUE
At 31st December 2023 - 35,964 2,433
At 31st December 2022 - 27,283 2,825

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 78,018 88,165 330,991
Additions 136,215 667 151,669
Disposals (82,399 ) - (82,399 )
At 31st December 2023 131,834 88,832 400,261
DEPRECIATION
At 1st January 2023 73,221 60,545 268,466
Charge for year 9,730 3,908 20,136
Eliminated on disposal (29,350 ) - (29,350 )
At 31st December 2023 53,601 64,453 259,252
NET BOOK VALUE
At 31st December 2023 78,233 24,379 141,009
At 31st December 2022 4,797 27,620 62,525

N E Electrical Wholesalers Limited (Registered number: 04220545)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,721,683 1,280,217
Other debtors 209,474 164,172
1,931,157 1,444,389

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 928,461 842,061
Taxation and social security 111,378 132,248
Other creditors 798,427 540,329
1,838,266 1,514,638

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Invoice discounting 555,662 454,514

Included within other creditors is an invoice discounting balance of £555,662 (2022: £454,514). This is secured by fixed and floating charge over all the property or undertaking of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
22,000 Ordinary £1 22,000 22,000

N E Electrical Wholesalers Limited

Report of the Accountants to the Directors of
N E Electrical Wholesalers Limited

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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31st December 2023 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG


6th March 2024