IRIS Accounts Production v24.1.9.2 03737593 director 1.5.23 30.4.24 30.4.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037375932023-04-30037375932024-04-30037375932023-05-012024-04-30037375932022-04-30037375932022-05-012023-04-30037375932023-04-3003737593ns15:EnglandWales2023-05-012024-04-3003737593ns14:PoundSterling2023-05-012024-04-3003737593ns10:Director12023-05-012024-04-3003737593ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3003737593ns10:SmallEntities2023-05-012024-04-3003737593ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3003737593ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3003737593ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3003737593ns10:FullAccounts2023-05-012024-04-3003737593ns10:OrdinaryShareClass12023-05-012024-04-3003737593ns10:RegisteredOffice2023-05-012024-04-3003737593ns5:CurrentFinancialInstruments2024-04-3003737593ns5:CurrentFinancialInstruments2023-04-3003737593ns5:Non-currentFinancialInstruments2024-04-3003737593ns5:Non-currentFinancialInstruments2023-04-3003737593ns5:ShareCapital2024-04-3003737593ns5:ShareCapital2023-04-3003737593ns5:RetainedEarningsAccumulatedLosses2024-04-3003737593ns5:RetainedEarningsAccumulatedLosses2023-04-3003737593ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-05-012024-04-3003737593ns5:PlantMachinery2023-05-012024-04-3003737593ns5:FurnitureFittings2023-05-012024-04-3003737593ns5:MotorVehicles2023-05-012024-04-3003737593ns5:LandBuildings2023-04-3003737593ns5:PlantMachinery2023-04-3003737593ns5:FurnitureFittings2023-04-3003737593ns5:MotorVehicles2023-04-3003737593ns5:LandBuildings2023-05-012024-04-3003737593ns5:LandBuildings2024-04-3003737593ns5:PlantMachinery2024-04-3003737593ns5:FurnitureFittings2024-04-3003737593ns5:MotorVehicles2024-04-3003737593ns5:LandBuildings2023-04-3003737593ns5:PlantMachinery2023-04-3003737593ns5:FurnitureFittings2023-04-3003737593ns5:MotorVehicles2023-04-3003737593ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3003737593ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3003737593ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-3003737593ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3003737593ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3003737593ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3003737593ns5:CurrentFinancialInstruments2023-05-012024-04-3003737593ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-04-3003737593ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-04-3003737593ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3003737593ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3003737593ns5:Secured2024-04-3003737593ns5:Secured2023-04-3003737593ns5:DeferredTaxation2023-04-3003737593ns5:DeferredTaxation2023-05-012024-04-3003737593ns5:DeferredTaxation2024-04-3003737593ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 03737593 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ELLWOOD ELECTRICAL WHOLESALERS LIMITED

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELLWOOD ELECTRICAL WHOLESALERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr R L Ellwood





REGISTERED OFFICE: Mackenzies Accountants
4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 03737593 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 276,358 262,969

CURRENT ASSETS
Stocks 5 25,988 39,988
Debtors 6 300,321 304,285
Cash at bank 17,522 -
343,831 344,273
CREDITORS
Amounts falling due within one year 7 221,937 244,541
NET CURRENT ASSETS 121,894 99,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,252

362,701

CREDITORS
Amounts falling due after more than one
year

8

(84,119

)

(97,130

)

PROVISIONS FOR LIABILITIES 11 (17,425 ) (15,332 )
NET ASSETS 296,708 250,239

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 296,608 250,139
SHAREHOLDERS' FUNDS 296,708 250,239

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

BALANCE SHEET - continued
30 APRIL 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





Mr R L Ellwood - Director


ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Ellwood 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures, fittings & office eq uip - 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 Profit and loss account, 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.

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings &
Freehold Plant and office eq Motor
property machinery uip vehicles Totals
£ £ £ £ £
COST
At 1 May 2023 208,841 21,680 61,771 75,726 368,018
Additions - 3,134 8,650 40,325 52,109
Disposals - - - (30,605 ) (30,605 )
At 30 April 2024 208,841 24,814 70,421 85,446 389,522
DEPRECIATION
At 1 May 2023 32,717 6,189 48,450 17,693 105,049
Charge for year 3,577 4,364 4,066 13,801 25,808
Eliminated on disposal - - - (17,693 ) (17,693 )
At 30 April 2024 36,294 10,553 52,516 13,801 113,164
NET BOOK VALUE
At 30 April 2024 172,547 14,261 17,905 71,645 276,358
At 30 April 2023 176,124 15,491 13,321 58,033 262,969

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 May 2023 75,726
Additions 40,325
Disposals (30,605 )
At 30 April 2024 85,446
DEPRECIATION
At 1 May 2023 17,693
Charge for year 13,801
At 30 April 2024 31,494
NET BOOK VALUE
At 30 April 2024 53,952
At 30 April 2023 58,033

5. STOCKS
2024 2023
£ £
Stock 25,988 39,988

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 173,709 224,506
Amounts owed by group undertakings 118,768 72,613
Prepayments 7,844 7,166
300,321 304,285

Trade debtors includes an amount of £910 (2023: £1,000) owing by The Electric Salvage Company Limited, a company under common control.

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 9) 17,482 34,033
Hire purchase contracts 20,176 13,082
Trade creditors 157,284 169,641
Amounts owed to group undertakings - 3,728
Tax 20,035 12,966
Social security and other taxes 1,460 1,154
VAT 3,014 7,691
Other creditors 631 568
Directors' current accounts 465 288
Accrued expenses 1,390 1,390
221,937 244,541

The company's bankers hold a fixed and floating charge over the assets of the company and also have a legal charge over Unit 6A, Larsen Road.

The bank overdraft and loans are all secured by a personal guarantee given by the director, Mr R Ellwood.

Trade creditors include £7,128 (2023: £Nil) to The Electric Salvage Company Ltd.

Other creditors consists of amount due in respect of pension contributions of £631 (2023: £568).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans (see note 9) 60,718 78,200
Hire purchase contracts 23,401 18,930
84,119 97,130

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts - 18,255
Bank loans 17,482 15,778
17,482 34,033

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,185 17,482

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. LOANS - continued
2024 2023
£ £
Amounts falling due between two and five years:
Bank loans - 2-5 years 41,533 60,718

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdraft - 18,255
Bank loans 78,200 93,978
78,200 112,233

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 17,425 15,332

Deferred tax
£
Balance at 1 May 2023 15,332
Provided during year 2,093
Balance at 30 April 2024 17,425

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

ELLWOOD ELECTRICAL WHOLESALERS LIMITED (REGISTERED NUMBER: 03737593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


13. RELATED PARTY DISCLOSURES

During the year the company traded with The Electric Salvage Company Limited, a company under common control. Total purchases from this company during the year were £5,150 (2023: £1,250). The director considers that all transactions were undertaken on an open market basis.

The company also rented their business premises to The Electrical Salvage Company Limited for a total cost of £6,000 (2023: £6,000). The director considers that all transactions were undertaken on an open market basis.

As at the balance sheet date, The Electric Salvage Company Limited owed Ellwood Electrical Wholesalers Limited £81,996 (2023: £72,613).

As at the balance sheet date, The Electric Salvage Group Limited owed Ellwood Electrical Wholesalers Limited £36,772. At the balance sheet date, in 2023, Ellwood Electrical Wholesalers owed The Electric Salvage Group £3,728.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R L Ellwood.