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REGISTERED NUMBER: 05180838 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

TOWN ELECTRICAL DISTRIBUTORS LTD

TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOWN ELECTRICAL DISTRIBUTORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr C Owen
Mr L Scallan
Mrs C L Owen
Mrs D Scallan





REGISTERED OFFICE: Unit 2 Matkat Park Dovefields
Uttoxeter
Dovefields
Staffordshire
ST14 8GA





REGISTERED NUMBER: 05180838 (England and Wales)





ACCOUNTANTS: Wynniatt-Husey Limited (Uttoxeter Branch)
The Old Bakehouse
Dove Walk
Uttoxeter
Staffordshire
ST14 8EH

TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)

BALANCE SHEET
31 JULY 2024

31.7.23 31.7.24
£    £    Notes £    £   
FIXED ASSETS
7,433 Tangible assets 4 5,575

CURRENT ASSETS
87,629 Stocks 5 110,709
325,861 Debtors 6 239,743
97,751 Cash at bank and in hand 160,412
511,241 510,864
CREDITORS
333,894 Amounts falling due within one year 7 278,614
177,347 NET CURRENT ASSETS 232,250
184,780 TOTAL ASSETS LESS CURRENT
LIABILITIES

237,825

1,412 PROVISIONS FOR LIABILITIES 8 1,059
183,368 NET ASSETS 236,766

CAPITAL AND RESERVES
252 Called up share capital 9 252
183,116 Retained earnings 236,514
183,368 SHAREHOLDERS' FUNDS 236,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)

BALANCE SHEET - continued
31 JULY 2024


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 9 August 2024 and were signed on its behalf by:





Mr L Scallan - Director


TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Town Electrical Distributors 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Fixtures and fittings - 25% 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.

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
Totals property fittings vehicles
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 54,492 6,546 19,739 28,207
DEPRECIATION
At 1 August 2023 47,059 6,546 15,481 25,032
Charge for year 1,858 - 1,064 794
At 31 July 2024 48,917 6,546 16,545 25,826
NET BOOK VALUE
At 31 July 2024 5,575 - 3,194 2,381
At 31 July 2023 7,433 - 4,258 3,175

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 110,709 87,629

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 238,819 324,972
Prepayments 924 889
239,743 325,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 7,872 7,872
Trade creditors 181,062 276,266
Tax 55,832 29,870
Social security and other taxes 1,163 1,236
Pension Control 536 513
VAT 20,682 2,459
Credit Card 1,435 1,285
Directors' current accounts 6,642 11,253
Accrued expenses 3,390 3,140
278,614 333,894

TOWN ELECTRICAL DISTRIBUTORS LTD (REGISTERED NUMBER: 05180838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 1,059 1,412

Deferred
tax
£   
Balance at 1 August 2023 1,412
Deferred tax movement (353 )
Balance at 31 July 2024 1,059

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
210 Ordinary A £1 210 210
42 Ordinary B £1 42 42
252 252