Registered number
12772950
A1 WHOLESALE DISTRIBUTION LTD
Report and Accounts
31 May 2024
A1 WHOLESALE DISTRIBUTION LTD
Report and accounts
Contents
Page
Company information 1
Director's report 1
Profit and loss account 2
Balance sheet 3
Statement of changes in equity 4
Notes to the accounts 5
A1 WHOLESALE DISTRIBUTION LTD
Company Information
Director
Ranjeet Singh
Registered office
4 Old Park Lane
London
W1K 1QW
Registered number
12772950
A1 WHOLESALE DISTRIBUTION LTD
Registered number: 12772950
Director's Report
The director presents his report and accounts for the year ended 31 May 2024.
Principal activities
The company's principal activity during the year continued to be non-specialised wholesale trade
Directors
The following persons served as directors during the year:
Ranjeet Singh
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 20 March 2025 and signed on its behalf.
Ranjeet Singh
Director
A1 WHOLESALE DISTRIBUTION LTD
Profit and Loss Account
for the year ended 31 May 2024
2024 2023
£ £
Turnover 5,967,182 4,804,355
Cost of sales (4,281,952) (3,598,279)
Gross profit 1,685,230 1,206,076
Administrative expenses (453,879) (409,984)
Operating profit 1,231,351 796,092
Profit before taxation 1,231,351 796,092
Tax on profit (231,768) (149,024)
Profit for the financial year 999,583 647,068
A1 WHOLESALE DISTRIBUTION LTD
Registered number: 12772950
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,433,746 877,901
Current assets
Stocks 260,063 118,316
Debtors 4 143,366 48,144
Cash at bank and in hand 62,897 42,519
466,326 208,979
Creditors: amounts falling due within one year 5 (297,640) (175,031)
Net current assets 168,686 33,948
Net assets 1,602,432 911,849
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 1,600,432 909,849
Shareholder's funds 1,602,432 911,849
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ranjeet Singh
Director
Approved by the board on 20 March 2025
A1 WHOLESALE DISTRIBUTION LTD
Statement of Changes in Equity
for the year ended 31 May 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 August 2022 2,000 - - 487,781 489,781
Profit for the period 647,068 647,068
Dividends (225,000) (225,000)
At 31 May 2023 2,000 - - 909,849 911,849
At 1 June 2023 2,000 - - 909,849 911,849
Profit for the financial year 999,583 999,583
Dividends (309,000) (309,000)
At 31 May 2024 2,000 - - 1,600,432 1,602,432
A1 WHOLESALE DISTRIBUTION LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 918,631 243,150 1,161,781
Additions 675,115 266,575 941,690
At 31 May 2024 1,593,746 509,725 2,103,471
Depreciation
At 1 June 2023 195,696 51,656 247,352
Charge for the year 307,856 114,517 422,373
At 31 May 2024 503,552 166,173 669,725
Net book value
At 31 May 2024 1,090,194 343,552 1,433,746
At 31 May 2023 722,935 191,494 914,429
4 Debtors 2024 2023
£ £
Trade debtors 143,366 48,144
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 65,872 26,007
Taxation and social security costs 231,768 149,024
297,640 175,031
6 Other information
A1 WHOLESALE DISTRIBUTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
4 Old Park Lane
London
W1K 1QW
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