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REGISTERED NUMBER: 05560357 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 October 2024

for

Contact Electrical Wholesale Ltd

Contact Electrical Wholesale Ltd (Registered number: 05560357)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Contact Electrical Wholesale Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: M J Dodwell





SECRETARY: Mrs G Dodwell





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 05560357 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Contact Electrical Wholesale Ltd (Registered number: 05560357)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 219,431 264,002

CURRENT ASSETS
Stocks 529,390 553,044
Debtors 5 1,569,588 1,539,135
Cash at bank and in hand 265,811 361,916
2,364,789 2,454,095
CREDITORS
Amounts falling due within one year 6 1,884,454 2,049,495
NET CURRENT ASSETS 480,335 404,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

699,766

668,602

CREDITORS
Amounts falling due after more than one year 7 (141,145 ) (208,993 )

PROVISIONS FOR LIABILITIES (55,000 ) (51,000 )
NET ASSETS 503,621 408,609

CAPITAL AND RESERVES
Called up share capital 111 111
Share premium 6,989 6,989
Retained earnings 496,521 401,509
SHAREHOLDERS' FUNDS 503,621 408,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 director and authorised for issue on 29 January 2025 and were signed by:



M J Dodwell - Director


Contact Electrical Wholesale Ltd (Registered number: 05560357)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Contact Electrical Wholesale Ltd 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.
Short leasehold - over the lease term
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% 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 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

Contact Electrical Wholesale Ltd (Registered number: 05560357)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 38,788 49,317 136,442 306,033 530,580
Additions - - - 28,990 28,990
Disposals (38,788 ) - - (31,795 ) (70,583 )
At 31 October 2024 - 49,317 136,442 303,228 488,987
DEPRECIATION
At 1 November 2023 34,162 41,339 117,649 73,428 266,578
Charge for year - 1,596 3,759 58,645 64,000
Eliminated on disposal (34,163 ) - - (26,859 ) (61,022 )
At 31 October 2024 (1 ) 42,935 121,408 105,214 269,556
NET BOOK VALUE
At 31 October 2024 1 6,382 15,034 198,014 219,431
At 31 October 2023 4,626 7,978 18,793 232,605 264,002


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,415,903 1,533,885
Amounts owed by group undertakings 137,373 -
Other debtors 16,312 5,250
1,569,588 1,539,135

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,455 45,455
Hire purchase contracts 22,393 24,810
Trade creditors 909,052 910,255
Amounts owed to group undertakings - 250,000
Taxation and social security 166,230 181,379
Other creditors 741,324 637,596
1,884,454 2,049,495

Included in Other Creditors is £648,911 (2023 £548,209) due to Invoice Discounters which is secured on certain trade debts of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,515 66,970
Hire purchase contracts 119,630 142,023
141,145 208,993

Contact Electrical Wholesale Ltd (Registered number: 05560357)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 66,970 112,425
Hire purchase contracts 142,023 166,833
208,993 279,258

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the year end was £496,646 (2023: £105,000).

10. RELATED PARTY DISCLOSURES

At the year end there was an amount due to the directors of £43,800 (2023 £36,600).

The amounts due from the company's Parent company at 31 October 2024 was £137,373 (2023 £250,000 owed to the Parent).