JR Electrical Wholesale Ltd 14604975 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the wholesale of electrical goods. Digita Accounts Production Advanced 6.30.9574.0 true true 14604975 2023-04-01 2024-03-31 14604975 2024-03-31 14604975 bus:OrdinaryShareClass1 2024-03-31 14604975 core:CurrentFinancialInstruments 2024-03-31 14604975 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14604975 core:FurnitureFittingsToolsEquipment 2024-03-31 14604975 core:OtherPropertyPlantEquipment 2024-03-31 14604975 bus:SmallEntities 2023-04-01 2024-03-31 14604975 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14604975 bus:FilletedAccounts 2023-04-01 2024-03-31 14604975 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14604975 bus:RegisteredOffice 2023-04-01 2024-03-31 14604975 bus:Director1 2023-04-01 2024-03-31 14604975 bus:Director2 2023-04-01 2024-03-31 14604975 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 14604975 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14604975 core:FurnitureFittings 2023-04-01 2024-03-31 14604975 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 14604975 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 14604975 core:PlantMachinery 2023-04-01 2024-03-31 14604975 countries:AllCountries 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14604975

JR Electrical Wholesale Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

JR Electrical Wholesale Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JR Electrical Wholesale Ltd

Company Information

Directors

Richard Adam Walecki

Jason Robin Hirshfield

Registered office

Unit 14 Ventura Park
Broadshires Way
Carterton
Oxon
OX18 1AD

Accountants

ReesRussell LLP
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

JR Electrical Wholesale Ltd

(Registration number: 14604975)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

3,075

Current assets

 

Stocks

5

77,475

Debtors

6

195,889

Cash at bank and in hand

 

2,985

 

276,349

Creditors: Amounts falling due within one year

7

(276,453)

Net current liabilities

 

(104)

Net assets

 

2,971

Capital and reserves

 

Called up share capital

8

100

Retained earnings

2,871

Shareholders' funds

 

2,971

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2024 and signed on its behalf by:
 

 

JR Electrical Wholesale Ltd

(Registration number: 14604975)
Balance Sheet as at 31 March 2024

.........................................
Richard Adam Walecki
Director

.........................................
Jason Robin Hirshfield
Director

 

JR Electrical Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 14 Ventura Park
Broadshires Way
Carterton
Oxon
OX18 1AD

These financial statements were authorised for issue by the Board on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

JR Electrical Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% reducing balance

Plant & Machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

JR Electrical Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3.

 

JR Electrical Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

2,000

2,100

4,100

At 31 March 2024

2,000

2,100

4,100

Depreciation

Charge for the year

500

525

1,025

At 31 March 2024

500

525

1,025

Carrying amount

At 31 March 2024

1,500

1,575

3,075

5

Stocks

2024
£

Other inventories

77,475

6

Debtors

Current

2024
£

Trade debtors

189,234

Prepayments

6,655

 

195,889

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

131,536

Taxation and social security

11,146

Accruals and deferred income

1,700

Other creditors

132,071

276,453

 

JR Electrical Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100