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REGISTERED NUMBER: 08347939 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Electrical Wholesale Sheffield Ltd

Electrical Wholesale Sheffield Ltd (Registered number: 08347939)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Electrical Wholesale Sheffield Ltd (Registered number: 08347939)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 102,952 30,365

CURRENT ASSETS
Stocks 450,722 410,772
Debtors 5 909,792 633,231
Cash at bank and in hand 122,459 146,353
1,482,973 1,190,356
CREDITORS
Amounts falling due within one year 6 1,092,663 922,004
NET CURRENT ASSETS 390,310 268,352
TOTAL ASSETS LESS CURRENT LIABILITIES 493,262 298,717

CREDITORS
Amounts falling due after more than one year 7 (42,456 ) (14,167 )

PROVISIONS FOR LIABILITIES (25,738 ) (7,591 )
NET ASSETS 425,068 276,959

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 425,067 276,958
SHAREHOLDERS' FUNDS 425,068 276,959

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2025 and were signed by:





Mr J D Walston - Director


Electrical Wholesale Sheffield Ltd (Registered number: 08347939)

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

1. STATUTORY INFORMATION

Electrical Wholesale Sheffield Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08347939

Registered office: Unit 4 Don Valley Trading Estate
St. Charles Street
Sheffield
S9 3WU

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% 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 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.

Electrical Wholesale Sheffield Ltd (Registered number: 08347939)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 - 17,801 44,984 19,714 82,499
Additions 220 910 102,216 9,532 112,878
Disposals - - (19,011 ) - (19,011 )
At 31 December 2024 220 18,711 128,189 29,246 176,366
DEPRECIATION
At 1 January 2024 - 13,687 27,193 11,254 52,134
Charge for year 44 1,005 28,123 3,600 32,772
Eliminated on disposal - - (11,492 ) - (11,492 )
At 31 December 2024 44 14,692 43,824 14,854 73,414
NET BOOK VALUE
At 31 December 2024 176 4,019 84,365 14,392 102,952
At 31 December 2023 - 4,114 17,791 8,460 30,365

Electrical Wholesale Sheffield Ltd (Registered number: 08347939)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 January 2024 44,984
Additions 50,546
Disposals (19,011 )
Transfer to ownership (25,973 )
At 31 December 2024 50,546
DEPRECIATION
At 1 January 2024 27,193
Charge for year 12,637
Eliminated on disposal (11,492 )
Transfer to ownership (15,701 )
At 31 December 2024 12,637
NET BOOK VALUE
At 31 December 2024 37,909
At 31 December 2023 17,791

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 901,205 610,119
Other debtors 8,587 23,112
909,792 633,231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,498 9,124
Trade creditors 751,973 511,319
Taxation and social security 85,952 64,974
Other creditors 239,240 326,587
1,092,663 922,004

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,167 14,167
Hire purchase contracts 38,289 -
42,456 14,167

Electrical Wholesale Sheffield Ltd (Registered number: 08347939)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 43,787 9,124
Factoring 181,048 296,783
224,835 305,907

A debenture is in place to give a fixed and floating charge over the company assets to Time Invoice Finance Limited to secure any loans, advances or indebtedness to them.

The hire purchase liabilities are secured against the relevant asset held under the agreement.

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £26,646 (2022 £12,254). This financial commitment represents the total amount of payments remaining on leases ending in 2026.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr J D Walston
Balance outstanding at start of year 7,840 -
Amounts advanced 48,978 31,701
Amounts repaid (57,000 ) (23,861 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (182 ) 7,840