Company registration number: 06127363
Unaudited financial statements
for the year ended 28 February 2025
for
Independent Electrical Wholesalers Ltd
Pages for filing with the Registrar
Company registration number: 06127363
Independent Electrical Wholesalers Ltd
Balance sheet
as at 28 February 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 13,325 16,130
13,325 16,130
Current assets
Stocks 116,998 74,043
Debtors 175,056 133,230
Cash at bank and in hand 74,505 48,013
366,559 255,286
Creditors: amounts falling due within one
year
(242,097) (148,955)
Net current assets 124,462 106,331
Total assets less current liabilities 137,787 122,461
NET ASSETS 137,787 122,461
Capital and reserves
Called up share capital 106 104
Profit and loss account 137,681 122,357
TOTAL EQUITY 137,787 122,461
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 28 February 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 06127363
Independent Electrical Wholesalers Ltd
Balance sheet - continued
as at 28 February 2025
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 to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 13 March 2025 and signed on its behalf by:
Mr A Gibson, Director
13 March 2025
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Independent Electrical Wholesalers Ltd
Notes to the financial statements
for the year ended 28 February 2025
1 Company information
Independent Electrical Wholesalers Ltd is a private company registered in England and Wales. Its registered number is 06127363. The company is limited by shares. Its registered office is Unit 3, Neepsend Industrial Estate, Sheffield, South Yorkshire, S3 8AG.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 etc.:
Fixtures and Fittings - 15% reducing balance
Motor Vehicles - 25% reducing balance
Computer Equipment - 15% 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.
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Independent Electrical Wholesalers Ltd
Notes to the financial statements - continued
for the year ended 28 February 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. 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 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 5 (2024 - 5).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 29 February 2024 62,013
At 28 February 2025 62,013
Depreciation
At 29 February 2024 45,883
Charge for year 2,805
At 28 February 2025 48,688
Net book value
At 28 February 2025 13,325
At 28 February 2024 16,130
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