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REGISTERED NUMBER: 02689667 (England and Wales)















DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED

COMPANY INFORMATION
For The Year Ended 29 FEBRUARY 2024







DIRECTORS: M J Connor
Mrs E L Snowden





REGISTERED OFFICE: Sandy Way
Amington
Tamworth
Staffordshire
B77 4DS





REGISTERED NUMBER: 02689667 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 607,877 571,454
Investments 5 776,219 718,066
1,384,096 1,289,520

CURRENT ASSETS
Stocks 6 178,653 164,422
Debtors 7 417,333 326,033
Cash at bank and in hand 894,154 777,552
1,490,140 1,268,007
CREDITORS
Amounts falling due within one year 8 311,201 213,767
NET CURRENT ASSETS 1,178,939 1,054,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,563,035

2,343,760

PROVISIONS FOR LIABILITIES 9 56,966 43,295
NET ASSETS 2,506,069 2,300,465

CAPITAL AND RESERVES
Called up share capital 1,260 1,260
Revaluation reserve 10 161,136 161,136
Capital redemption reserve 1,840 1,840
Fair value reserve 10 210,000 210,000
Retained earnings 2,131,833 1,926,229
SHAREHOLDERS' FUNDS 2,506,069 2,300,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

BALANCE SHEET - continued
29 FEBRUARY 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 22 August 2024 and were signed on its behalf by:





M J Connor - Director


DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Direct Electrical Supply (Tamworth) 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 as modified by the revaluation of certain assets.

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.
Freehold prop - not provided
Fixtures and fittings - 20% 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.

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.

Investments
Investments are stated at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
prop fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 March 2023 550,000 26,709 59,740 636,449
Additions - - 58,800 58,800
Disposals - - (14,170 ) (14,170 )
At 29 February 2024 550,000 26,709 104,370 681,079
DEPRECIATION
At 1 March 2023 - 23,580 41,415 64,995
Charge for year - 626 18,459 19,085
Eliminated on disposal - - (10,878 ) (10,878 )
At 29 February 2024 - 24,206 48,996 73,202
NET BOOK VALUE
At 29 February 2024 550,000 2,503 55,374 607,877
At 28 February 2023 550,000 3,129 18,325 571,454

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Freehold and Motor
prop fittings vehicles Totals
£    £    £    £   
Valuation in 2006 161,136 - - 161,136
Valuation in 2023 210,000 - - 210,000
Cost 178,864 26,709 104,370 309,943
550,000 26,709 104,370 681,079

If freehold property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 178,864 178,864

Freehold property was valued on an open market basis on 29 February 2024 by the directors .

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1 March 2023 718,066
Additions 160,000
Disposals (112,020 )
Revaluations 10,173
At 29 February 2024 776,219
NET BOOK VALUE
At 29 February 2024 776,219
At 28 February 2023 718,066

Cost or valuation at 29 February 2024 is represented by:

Unlisted
investments
£   
Valuation in 2019 46,541
Valuation in 2022 21,820
Valuation in 2023 13,191
Valuation in 2024 10,173
Cost 684,494
776,219

6. STOCKS
29.2.24 28.2.23
£    £   
Stocks 178,653 164,422

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 410,011 319,066
Other debtors 7,322 6,967
417,333 326,033

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 174,046 119,951
Taxation and social security 130,785 86,676
Other creditors 6,370 7,140
311,201 213,767

DIRECT ELECTRICAL SUPPLY (TAMWORTH)
LIMITED (REGISTERED NUMBER: 02689667)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 56,966 43,295

Deferred
tax
£   
Balance at 1 March 2023 43,295
Provided during year 13,671
Balance at 29 February 2024 56,966

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 March 2023
and 29 February 2024 161,136 210,000 371,136

11. ULTIMATE CONTROLLING PARTY

The controlling party is M J Connor.