Company registration number 02530476 (England and Wales)
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
COMPANY INFORMATION
Directors
Mr M T Cap
Mrs K M Cap
Mrs G L Bottomley
Secretary
Mr M T Cap
Company number
02530476
Registered office
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
West Midlands
England
B62 8DY
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oswestry Electrical & Plumbing Factors Limited for the year ended 31 October 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Oswestry Electrical & Plumbing Factors Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Oswestry Electrical & Plumbing Factors Limited and state those matters that we have agreed to state to the board of directors of Oswestry Electrical & Plumbing Factors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oswestry Electrical & Plumbing Factors Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Oswestry Electrical & Plumbing Factors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oswestry Electrical & Plumbing Factors Limited. You consider that Oswestry Electrical & Plumbing Factors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Oswestry Electrical & Plumbing Factors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jerroms GCN Limited
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
26 March 2025
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
581,621
577,281
Current assets
Stocks
5
297,705
324,221
Debtors
6
339,677
372,701
Investments
7
200,000
200,000
Cash at bank and in hand
304,977
220,663
1,142,359
1,117,585
Creditors: amounts falling due within one year
8
(432,296)
(440,343)
Net current assets
710,063
677,242
Total assets less current liabilities
1,291,684
1,254,523
Provisions for liabilities
(36,588)
(35,296)
Net assets
1,255,096
1,219,227
Capital and reserves
Called up share capital
10
100
100
Revaluation reserve
11
89,945
89,945
Profit and loss reserves
1,165,051
1,129,182
Total equity
1,255,096
1,219,227
The notes on pages 4 to 8 form part of these financial statements.
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 3 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr M T Cap
Director
Company registration number 02530476 (England and Wales)
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information
Oswestry Electrical & Plumbing Factors Limited 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.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Freehold property
0%
Plant and machinery
10% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
Depreciation has been provided at 0% on freehold property as in the opinion of the directors, their lives are long and residual values are such that depreciation is not material.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
1.4
Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
19
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
542,254
10,945
77,962
106,483
737,644
Additions
8,000
5,750
13,750
At 31 October 2024
542,254
10,945
85,962
112,233
751,394
Depreciation and impairment
At 1 November 2023
5,455
67,355
87,553
160,363
Depreciation charged in the year
549
2,691
6,170
9,410
At 31 October 2024
6,004
70,046
93,723
169,773
Carrying amount
At 31 October 2024
542,254
4,941
15,916
18,510
581,621
At 31 October 2023
542,254
5,490
10,607
18,930
577,281
4
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
200,000
200,000
5
Stocks
2024
2023
£
£
Stocks
297,705
324,221
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
180,587
287,800
Amounts owed by undertakings in which the company has a participating interest
5,272
3,267
Other debtors
148,343
77,746
Prepayments and accrued income
5,475
3,888
339,677
372,701
Amounts owed by participating interests do not bear any interest, are unsecured and are repayable on demand.
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
7
Current asset investments
2024
2023
£
£
Freehold land
200,000
200,000
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
275,754
293,805
Amounts owed to undertakings in which the company has a participating interest
15,072
9,460
Corporation tax
71,072
65,090
Other taxation and social security
58,384
60,836
Other creditors
2,147
1,695
Accruals and deferred income
9,867
9,457
432,296
440,343
Amounts owed to participating interests do not bear any interest, are unsecured and are repayable on demand.
9
Deferred taxation
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
6,606
5,314
Revaluations
29,982
29,982
36,588
35,296
2024
Movements in the year:
£
Liability at 1 November 2023
35,296
Charge to profit or loss
1,292
Liability at 31 October 2024
36,588
A deferred tax provision has arisen as a result of accelerated capital allowances.
OSWESTRY ELECTRICAL & PLUMBING FACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 8 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
11
Fair value reserve
2024
2023
£
£
At the beginning of the year
89,945
97,141
Deferred tax on revaluation of tangible assets
-
(7,196)
At the end of the year
89,945
89,945
2024-10-312023-11-01falsefalsefalse26 March 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMrs K M CapMrs G L BottomleyMrs G L BottomleyMr M T Cap025304762023-11-012024-10-3102530476bus:CompanySecretaryDirector12023-11-012024-10-3102530476bus:Director12023-11-012024-10-3102530476bus:Director22023-11-012024-10-3102530476bus:CompanySecretary12023-11-012024-10-3102530476bus:Director32023-11-012024-10-3102530476bus:RegisteredOffice2023-11-012024-10-31025304762024-10-31025304762023-10-3102530476core:LandBuildingscore:OwnedOrFreeholdAssets2024-10-3102530476core:PlantMachinery2024-10-3102530476core:FurnitureFittings2024-10-3102530476core:MotorVehicles2024-10-3102530476core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-3102530476core:PlantMachinery2023-10-3102530476core:FurnitureFittings2023-10-3102530476core:MotorVehicles2023-10-3102530476core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3102530476core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3102530476core:CurrentFinancialInstruments2024-10-3102530476core:CurrentFinancialInstruments2023-10-3102530476core:ShareCapital2024-10-3102530476core:ShareCapital2023-10-3102530476core:RevaluationReserve2024-10-3102530476core:RevaluationReserve2023-10-3102530476core:RetainedEarningsAccumulatedLosses2024-10-3102530476core:RetainedEarningsAccumulatedLosses2023-10-3102530476core:ShareCapitalOrdinaryShareClass12024-10-3102530476core:ShareCapitalOrdinaryShareClass12023-10-3102530476core:RevaluationReserve2023-10-3102530476core:RevaluationReserve2022-10-3102530476core:LandBuildingscore:OwnedOrFreeholdAssets2023-11-012024-10-3102530476core:PlantMachinery2023-11-012024-10-3102530476core:FurnitureFittings2023-11-012024-10-3102530476core:MotorVehicles2023-11-012024-10-31025304762022-11-012023-10-3102530476core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-3102530476core:PlantMachinery2023-10-3102530476core:FurnitureFittings2023-10-3102530476core:MotorVehicles2023-10-31025304762023-10-3102530476bus:OrdinaryShareClass12023-11-012024-10-3102530476bus:OrdinaryShareClass12024-10-3102530476bus:OrdinaryShareClass12023-10-3102530476bus:PrivateLimitedCompanyLtd2023-11-012024-10-3102530476bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3102530476bus:FRS1022023-11-012024-10-3102530476bus:AuditExemptWithAccountantsReport2023-11-012024-10-3102530476bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP