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REGISTERED NUMBER: 04140047 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CWB WHOLESALE LTD

CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,416 26,084
Tangible assets 5 1,015,241 1,014,504
1,043,657 1,040,588

CURRENT ASSETS
Stocks 2,484,139 2,672,821
Debtors 6 1,936,662 2,015,371
Cash at bank and in hand 195,304 223,822
4,616,105 4,912,014
CREDITORS
Amounts falling due within one year 7 3,642,455 3,800,016
NET CURRENT ASSETS 973,650 1,111,998
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,017,307

2,152,586

CREDITORS
Amounts falling due after more than one
year

8

(503,631

)

(701,063

)

PROVISIONS FOR LIABILITIES (71,806 ) (71,660 )
NET ASSETS 1,441,870 1,379,863

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 1,000 1,000
Retained earnings 1,440,770 1,378,763
SHAREHOLDERS' FUNDS 1,441,870 1,379,863

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

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

CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

BALANCE SHEET - continued
31 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 4 July 2024 and were signed on its behalf by:





Mr P D Cosgrove - Director


CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

CWB Wholesale Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04140047

Registered office: Oak House
Unit 2
Langstone Business Park
Newport
Monmouthshire
NP18 2LH

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.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock
to its present location and condition.

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.


CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as
assets and liabilities at the lower of the fair value of the assets and the present value of the minimum
lease payments, which is determined at the inception of the lease term. Any initial direct costs of the
lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease
liability using the effective interest method. Finance charges are allocated to each period so as to
produce a constant rate of interest on the remaining balance of the liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 29,920
Additions 6,300
At 31 December 2023 36,220
AMORTISATION
At 1 January 2023 3,836
Charge for year 3,968
At 31 December 2023 7,804
NET BOOK VALUE
At 31 December 2023 28,416
At 31 December 2022 26,084

CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 637,315 977,151 1,614,466
Additions - 105,328 105,328
Disposals - (13,762 ) (13,762 )
At 31 December 2023 637,315 1,068,717 1,706,032
DEPRECIATION
At 1 January 2023 - 599,962 599,962
Charge for year - 104,591 104,591
Eliminated on disposal - (13,762 ) (13,762 )
At 31 December 2023 - 690,791 690,791
NET BOOK VALUE
At 31 December 2023 637,315 377,926 1,015,241
At 31 December 2022 637,315 377,189 1,014,504

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 1,650,049 1,683,382
Other debtors 286,613 331,989
1,936,662 2,015,371

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 183,266 181,513
Hire purchase contracts 42,697 36,933
Trade creditors 2,410,235 2,418,114
Taxation and social security 218,732 225,523
Other creditors 787,525 937,933
3,642,455 3,800,016

Included within creditors: amounts falling due within one year is an amount of £42,697 (2022 -
£36,933) in respect of HP leases repayable in less than one year. This balance is secured by the way
of a fixed charge on the assets of which the HP leases relate to.

CWB WHOLESALE LTD (REGISTERED NUMBER: 04140047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 373,059 556,326
Hire purchase contracts 130,572 144,737
503,631 701,063

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 142,058 187,333

Included within creditors: amounts falling due after one year is an amount of £130,572 (2022 -
£144,737) in respect of HP leases repayable after one year. This balance is secured by the way of a
fixed charge on the assets of which the HP leases relate to.

9. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Hire purchase contracts 173,269 181,670
Bank Loan 350,907 387,421
524,176 569,091

HSBC Bank plc hold the following legal charges over the company assets:

- A debenture over the fixed and floating assets of the business.

- A legal mortgage charge over the freehold properties, fixtures & fittings and equipment at:

Oak House, Langstone Business Village, Newport.