REGISTERED NUMBER: 01258993 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

A N SUPPLIES (WHOLESALE ELECTRICAL

DISTRIBUTORS) LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

Chartered Accountants' Report

9

DIRECTORS:

Jeremy Cooke

Christopher Northrop

SECRETARY:

REGISTERED OFFICE:

North Road

Bridgend Industrial Estate

Bridgend

Mid Glamorgan

CF31 3TP

REGISTERED NUMBER:

01258993 (England and Wales)

ACCOUNTANTS:

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Rhondda Cynon Taff

CF37 4DY

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale supply of electrical goods.

REVIEW OF BUSINESS

The Company maintained a consistent level of turnover during the financial year, demonstrating continued stability in its core operations and sustained demand from its customer base.

Although a small loss was recorded for the year, this was primarily due to an unrealised fall in the value of certain investments. It is important to note that this is a non-cash accounting adjustment and does not impact the Company’s trading performance or cash flow position. The underlying business remains strong and profitable at an operational level.

Key performance indicators:

31.12.24

31.12.23

31.12.22

EBITDA

£269,262

£402,958

£227,228

Stock Days

50.6 Days

48.6 Days

72.4 Days

Management continues to monitor the investment portfolio closely and remains confident in the long-term value of these assets. With stable revenues and a healthy operational foundation, the Company is well positioned for a return to overall profitability in the coming year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Jeremy Cooke

Christopher Northrop

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Jeremy Cooke - Director

2 September 2025

FIXED ASSETS

Tangible assets

4

238,371

236,662

Investments

5

233,262

359,954

471,633

596,616

CURRENT ASSETS

Stocks

1,062,691

1,050,595

Debtors

6

2,346,023

2,407,326

Cash at bank and in hand

4,032

432

3,412,746

3,458,353

CREDITORS

Amounts falling due within one year

7

2,689,768

2,722,283

NET CURRENT ASSETS

722,978

736,070

TOTAL ASSETS LESS CURRENT LIABILITIES

1,194,611

1,332,686

CREDITORS

Amounts falling due after more than one year

8

52,976

129,649

NET ASSETS

1,141,635

1,203,037

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Revaluation reserve

10

68,545

-

Retained earnings

10

1,070,090

1,200,037

1,141,635

1,203,037

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 directors acknowledge their 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 Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

Jeremy Cooke - Director

1.	STATUTORY INFORMATION

A N Supplies (Wholesale Electrical Distributors) 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.

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 as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

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 43 (2023 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

656,600

377,529

1,034,129

Additions

11,883

54,794

66,677

Disposals

-

(43,995

)

(43,995

)

At 31 December 2024

668,483

388,328

1,056,811

DEPRECIATION

At 1 January 2024

616,634

180,833

797,467

Charge for year

25,554

103,792

129,346

Eliminated on disposal

-

(39,828

)

(39,828

)

Revaluation adjustments

(68,545

)

-

(68,545

)

At 31 December 2024

573,643

244,797

818,440

NET BOOK VALUE

At 31 December 2024

94,840

143,531

238,371

At 31 December 2023

39,966

196,696

236,662

Cost or valuation at 31 December 2024 is represented by:

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Valuation in 2023

656,600

377,529

1,034,129

Valuation in 2024

11,883

10,799

22,682

668,483

388,328

1,056,811

5.	FIXED ASSET INVESTMENTS

Other

Investments

£

COST OR VALUATION

At 1 January 2024

359,954

Additions

2,348

Disposals

(12,976

)

Revaluations

(116,064

)

At 31 December 2024

233,262

NET BOOK VALUE

At 31 December 2024

233,262

At 31 December 2023

359,954

Cost or valuation at 31 December 2024 is represented by:

Other

Investments

£

Valuation in 2022

476,538

Valuation in 2023

(116,584

)

Valuation in 2024

(126,692

)

233,262

If other Investments had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

443,177

443,177

Other investments consist of both listed and unlisted shares. The listed shares were revalued at the 31/12/2024 by an independent broker. The unlisted shares were valued by the directors as at the same date.

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

1,743,244

1,883,980

Amounts owed by group undertakings

463,278

403,278

Other debtors

125,046

109,282

2,331,568

2,396,540

Amounts falling due after more than one year:

Other debtors

14,455

10,786

Aggregate amounts

2,346,023

2,407,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

1,291,916

1,240,129

Hire purchase contracts

55,567

76,465

Trade creditors

1,166,008

1,099,703

Taxation and social security

96,410

154,191

Other creditors

79,867

151,795

2,689,768

2,722,283

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

20,417

69,417

Hire purchase contracts

32,559

60,232

52,976

129,649

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

1,242,916

1,191,129

Bank loans

49,000

49,000

1,291,916

1,240,129

Amounts falling due between one and two years:

Bank loans - 1-2 years

20,417

49,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

20,417

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

1,200,037

-

1,200,037

Deficit for the year

(129,947

)

-

(129,947

)

Revaluation of Fixtures

-

68,545

68,545

At 31 December 2024

1,070,090

68,545

1,138,635

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

£

Jeremy Cooke

Balance outstanding at start of year

32,843

1,793

Amounts advanced

10,872

31,050

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

43,715

32,843

Christopher Northrop

Balance outstanding at start of year

1,907

1,765

Amounts advanced

-

142

Amounts repaid

(227

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,680

1,907

12.	ULTIMATE CONTROLLING PARTY

Steels Management Limited is the ultimate controlling party.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A N Supplies (Wholesale Electrical Distributors) Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A N Supplies (Wholesale Electrical Distributors) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A N Supplies (Wholesale Electrical Distributors) Limited and state those matters that we have agreed to state to the Board of Directors of A N Supplies (Wholesale Electrical Distributors) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A N Supplies (Wholesale Electrical Distributors) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A N Supplies (Wholesale Electrical Distributors) 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 loss of A N Supplies (Wholesale Electrical Distributors) Limited. You consider that A N Supplies (Wholesale Electrical Distributors) 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 A N Supplies (Wholesale Electrical Distributors) 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.

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Rhondda Cynon Taff

CF37 4DY

2 September 2025