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REGISTERED NUMBER: 02547816 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Wire Electric Supplies Limited

Wire Electric Supplies Limited (Registered number: 02547816)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Statement of Directors' Responsibilities 9

Independent Chartered Accountants' Review Report 10


Wire Electric Supplies Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M G Robinson
Mrs A M Robinson
M M Robinson
M J Robinson





SECRETARY: Mrs A M Robinson





REGISTERED OFFICE: Stag Business Park
Telford
Shropshire
TF2 7NA





REGISTERED NUMBER: 02547816 (England and Wales)





ACCOUNTANTS: Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Wire Electric Supplies Limited (Registered number: 02547816)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,452 6,679
Tangible assets 5 2,442,682 2,334,947
2,447,134 2,341,626

CURRENT ASSETS
Stocks 1,353,825 1,281,355
Debtors 6 2,796,588 2,098,703
Cash at bank and in hand 82,751 181,970
4,233,164 3,562,028
CREDITORS
Amounts falling due within one year 7 3,283,641 2,657,588
NET CURRENT ASSETS 949,523 904,440
TOTAL ASSETS LESS CURRENT LIABILITIES 3,396,657 3,246,066

CREDITORS
Amounts falling due after more than one
year

8

(1,002,471

)

(1,005,768

)

PROVISIONS FOR LIABILITIES 11 (249,274 ) (219,248 )
NET ASSETS 2,144,912 2,021,050

CAPITAL AND RESERVES
Called up share capital 12 100 100
Capital redemption reserve 10,012 10,012
Retained earnings 2,134,800 2,010,938
SHAREHOLDERS' FUNDS 2,144,912 2,021,050

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Wire Electric Supplies Limited (Registered number: 02547816)

Balance Sheet - continued
30 September 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 and authorised for issue by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





M G Robinson - Director


Wire Electric Supplies Limited (Registered number: 02547816)

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

1. STATUTORY INFORMATION

Wire Electric Supplies 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.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost and 15% 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.

Wire Electric Supplies Limited (Registered number: 02547816)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants are treated as deferred credits and credited to profit and loss account over the estimated useful life of the appropriate asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 11,133
AMORTISATION
At 1 October 2023 4,454
Charge for year 2,227
At 30 September 2024 6,681
NET BOOK VALUE
At 30 September 2024 4,452
At 30 September 2023 6,679

Wire Electric Supplies Limited (Registered number: 02547816)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 1,485,956 2,400,056 3,886,012
Additions 9,880 287,016 296,896
Disposals - (32,522 ) (32,522 )
At 30 September 2024 1,495,836 2,654,550 4,150,386
DEPRECIATION
At 1 October 2023 88,775 1,462,290 1,551,065
Charge for year 10,899 176,687 187,586
Eliminated on disposal - (30,947 ) (30,947 )
At 30 September 2024 99,674 1,608,030 1,707,704
NET BOOK VALUE
At 30 September 2024 1,396,162 1,046,520 2,442,682
At 30 September 2023 1,397,181 937,766 2,334,947

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 2,721,952 1,991,587
Other debtors 74,636 107,116
2,796,588 2,098,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 94,533 92,607
Hire purchase contracts (see note 9) 104,084 103,958
Trade creditors 1,267,700 1,163,390
Amounts owed to group undertakings 3,765 3,765
Taxation and social security 687,372 583,760
Other creditors 1,126,187 710,108
3,283,641 2,657,588

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 588,708 675,096
Hire purchase contracts (see note 9) 262,500 175,530
Other creditors 151,263 155,142
1,002,471 1,005,768

Wire Electric Supplies Limited (Registered number: 02547816)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Business mortgage > 5 years 209,600 284,630

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 104,084 103,958
Between one and five years 262,500 175,530
366,584 279,488

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Between one and five years 39,361 49,669

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 683,241 767,703
Factoring advances 1,022,011 583,880
Hire purchase contracts 366,584 279,488
2,071,836 1,631,071

Bank loans and overdrafts are secured by debenture in favour of Lloyds Bank Plc in the bank's standard form dated 30 September 1993 and by specific legal charge over freehold land and buildings.

Factoring facilities have been provided by Lloyds Bank Commercial Finance Limited. The facility is secured by fixed and floating charge over the undertaking and all assets and property.

Hire purchase liabilities are secured on the related assets.

Wire Electric Supplies Limited (Registered number: 02547816)

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

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 249,274 219,248

Deferred
tax
£   
Balance at 1 October 2023 219,248
Charge to Income Statement during year 30,026
Balance at 30 September 2024 249,274

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

13. CAPITAL COMMITMENTS
30.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements - 179,300

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
M M Robinson
Balance outstanding at start of year 5,742 -
Amounts advanced 49 5,742
Amounts repaid (5,742 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49 5,742

Wire Electric Supplies Limited (Registered number: 02547816)

Statement of Directors' Responsibilities
for the Year Ended 30 September 2024


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


ON BEHALF OF THE BOARD:





M G Robinson - Director

7 January 2025

Independent Chartered Accountants' Review Report to the Directors of
Wire Electric Supplies Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Wire Electric Supplies Limited for the year ended 30 September 2024, which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Directors' responsibility for the financial statements
As explained more fully in the Statement of Directors' Responsibilities set out on page twelve, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report, or for the conclusions we have formed.




Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield

Independent Chartered Accountants' Review Report to the Directors of
Wire Electric Supplies Limited

Wolverhampton
West Midlands
WV11 1ST


7 January 2025