REGISTERED NUMBER: 01203430 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

South Woodford Electronics Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C W Gysin

R A Johnstone

G R Aislabie

SECRETARY:

G R Aislabie

REGISTERED OFFICE:

Unit 5 Southmill Trading Centre

Southmill Road

Bishops Stortford

Hertfordshire

CM23 3DY

REGISTERED NUMBER:

01203430 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Property, plant and equipment

4

6,835

12,498

CURRENT ASSETS

Inventories

151,292

185,206

Debtors

5

74,758

151,452

Cash at bank

145,681

55,814

371,731

392,472

CREDITORS

Amounts falling due within one year

6

74,583

82,581

NET CURRENT ASSETS

297,148

309,891

TOTAL ASSETS LESS CURRENT LIABILITIES

303,983

322,389

PROVISIONS FOR LIABILITIES

-

3,125

NET ASSETS

303,983

319,264

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

303,883

319,164

SHAREHOLDERS' FUNDS

303,983

319,264

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

G R Aislabie - Director

1.	STATUTORY INFORMATION

South Woodford Electronics 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.

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 represents the total invoice value, excluding value added tax, of goods and services rendered during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

straight line over the life of the lease

Plant & machinery

-

10% on cost

Motor vehicles

-

33.33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of change on the net obligations outstanding in each period.

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 14 (2023 - 16 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant &

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

13,334

236,848

13,500

263,682

DEPRECIATION

At 1 January 2024

13,334

233,725

4,125

251,184

Charge for year

-

1,163

4,500

5,663

At 31 December 2024

13,334

234,888

8,625

256,847

NET BOOK VALUE

At 31 December 2024

-

1,960

4,875

6,835

At 31 December 2023

-

3,123

9,375

12,498

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

58,005

133,493

Other debtors

6,688

6,688

Tax

-

1,610

Prepayments & accrued income

10,065

9,661

74,758

151,452

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

27,032

20,013

Social security & other taxes

5,406

6,204

Value added tax

31,854

32,975

Other creditors

3,881

4,295

Accruals & deferred income

6,410

19,094

74,583

82,581

7.	LEASING AGREEMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £100,500 (2023: £76,500).