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REGISTERED NUMBER: 05098171 (England and Wales)















UNITED ELECTRICAL PRODUCTS LIMITED

Unaudited Financial Statements for the Year Ended 30 April 2024






UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)






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


UNITED ELECTRICAL PRODUCTS LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J P Lynskey
Mrs C Lynskey





SECRETARY: Mrs C Lynskey





REGISTERED OFFICE: Unit 19, Planetary Industrial Estate
Planetary Road
Wednesfield
Wolverhampton
West Midlands
WV13 3XA





REGISTERED NUMBER: 05098171 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,595 42,279

CURRENT ASSETS
Stocks 388,386 438,154
Debtors 5 388,361 463,669
Cash at bank and in hand 343,899 174,390
1,120,646 1,076,213
CREDITORS
Amounts falling due within one year 6 198,312 148,980
NET CURRENT ASSETS 922,334 927,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,065,929

969,512

CREDITORS
Amounts falling due after more than one
year

7

(57,651

)

(41,607

)

PROVISIONS FOR LIABILITIES (35,899 ) (10,570 )
NET ASSETS 972,379 917,335

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 972,279 917,235
SHAREHOLDERS' FUNDS 972,379 917,335

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 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.

UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





J P Lynskey - Director


UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

United Electrical Products 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.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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
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.

UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 8,188 25,691 63,509
Additions - - -
At 30 April 2024 8,188 25,691 63,509
DEPRECIATION
At 1 May 2023 8,188 16,356 41,128
Charge for year - 1,867 4,476
At 30 April 2024 8,188 18,223 45,604
NET BOOK VALUE
At 30 April 2024 - 7,468 17,905
At 30 April 2023 - 9,335 22,381

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 - 36,230 133,618
Additions 119,823 1,026 120,849
At 30 April 2024 119,823 37,256 254,467
DEPRECIATION
At 1 May 2023 - 25,667 91,339
Charge for year 10,940 2,250 19,533
At 30 April 2024 10,940 27,917 110,872
NET BOOK VALUE
At 30 April 2024 108,883 9,339 143,595
At 30 April 2023 - 10,563 42,279

The net book value of tangible fixed assets includes £ 104,204 (2023 - £ 9,415 ) in respect of assets held under hire purchase contracts.

UNITED ELECTRICAL PRODUCTS LIMITED (REGISTERED NUMBER: 05098171)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 324,507 401,772
Amounts due from related party 46,500 46,500
Prepayments 17,354 15,397
388,361 463,669

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,182 18,182
Hire purchase contracts 28,546 3,441
Trade creditors 57,764 42,551
Social security and other taxes 92,964 72,740
Accrued expenses 856 12,066
198,312 148,980

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 18,182 18,182
Bank loans - 2-5 years 1,515 19,697
Hire purchase contracts 37,954 3,728
57,651 41,607

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 66,500 7,169

The hire purchase liability is secured against the asset to which it relates.

9. OTHER FINANCIAL COMMITMENTS

At 30 April 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £98,440