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COMPANY REGISTRATION NUMBER: 04911776
Appliance World Online Limited
Filleted Unaudited Financial Statements
5 April 2025
Appliance World Online Limited
Statement of Financial Position
5 April 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
219,871
255,720
Current assets
Stocks
1,659,208
1,849,370
Debtors
6
548,843
724,480
Cash at bank and in hand
1,154,632
1,395,163
------------
------------
3,362,683
3,969,013
Creditors: amounts falling due within one year
7
716,684
1,249,974
------------
------------
Net current assets
2,645,999
2,719,039
------------
------------
Total assets less current liabilities
2,865,870
2,974,759
Provisions
Taxation including deferred tax
54,968
63,930
------------
------------
Net assets
2,810,902
2,910,829
------------
------------
Appliance World Online Limited
Statement of Financial Position (continued)
5 April 2025
2025
2024
Note
£
£
£
Capital and reserves
Called up share capital
13,303
7,900
Profit and loss account
8
2,797,599
2,902,929
------------
------------
Shareholders funds
2,810,902
2,910,829
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 July 2025 , and are signed on behalf of the board by:
Mr Geoffrey Bennetta
Mr Lee Bennetta
Director
Director
Company registration number: 04911776
Appliance World Online Limited
Notes to the Financial Statements
Year ended 5 April 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 543-547 Bolton Road, Pendlebury, Swinton, Manchester, M27 8QT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
(c) Revenue recognition
The turnover shown in the profit and loss account represents income derived from the sale of domestic appliances and the fitting of kitchens during the year, exclusive of Value Added Tax where applicable.
(d) Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(j) Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
(k) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2024: 48 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 6 April 2024
48,385
119,158
441,650
75,059
684,252
Additions
42,218
42,218
Disposals
( 63,171)
( 63,171)
--------
---------
---------
--------
---------
At 5 April 2025
48,385
119,158
420,697
75,059
663,299
--------
---------
---------
--------
---------
Depreciation
At 6 April 2024
13,975
96,613
242,885
75,059
428,532
Charge for the year
5,162
3,381
57,153
65,696
Disposals
( 50,800)
( 50,800)
--------
---------
---------
--------
---------
At 5 April 2025
19,137
99,994
249,238
75,059
443,428
--------
---------
---------
--------
---------
Carrying amount
At 5 April 2025
29,248
19,164
171,459
219,871
--------
---------
---------
--------
---------
At 5 April 2024
34,410
22,545
198,765
255,720
--------
---------
---------
--------
---------
6. Debtors
2025
2024
£
£
Trade debtors
54,108
110,511
Other debtors
494,735
613,969
---------
---------
548,843
724,480
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
681,832
975,501
Corporation tax
3,927
13,995
Social security and other taxes
4,259
541
Other creditors
26,666
259,937
---------
------------
716,684
1,249,974
---------
------------
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
253,110
253,110
Later than 1 year and not later than 5 years
63,278
316,388
---------
---------
316,388
569,498
---------
---------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr Geoffrey Bennetta
4,439
( 5,999)
( 1,560)
Mr Gary Bennetta
4,411
( 5,999)
( 1,588)
Mr Lee Bennetta
1,895
( 5,999)
( 4,104)
--------
--------
-------
10,745
( 17,997)
( 7,252)
--------
--------
-------
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr Geoffrey Bennetta
2,439
2,000
4,439
Mr Gary Bennetta
2,411
2,000
4,411
Mr Lee Bennetta
( 105)
2,000
1,895
-------
-------
--------
4,745
6,000
10,745
-------
-------
--------
The directors' current accounts are unsecured, interest free and repayable on demand. During the year rent was paid to GL & G Properties amounting to £137,876 (2024: £157,876), GL & G Properties is a partnership controlled by the directors of this company.
11. Related party transactions
The company was under the control of Mr Geoffrey Bennetta throughout the current and previous year. Mr Geoffrey Bennetta is the managing director and majority shareholder. During the year dividends of £90,480 (2024: £90,480) were paid to the directors.