REGISTERED NUMBER: 11729068 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GRS ELECTRICAL DISTRIBUTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G R Smith

REGISTERED OFFICE:

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

REGISTERED NUMBER:

11729068 (England and Wales)

ACCOUNTANTS:

Xeinadin Isle of Wight

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Tangible assets

4

7,552

6,195

CURRENT ASSETS

Stocks

5

168,500

123,250

Debtors

6

9,923

27,399

Cash at bank

339,160

384,667

517,583

535,316

CREDITORS

Amounts falling due within one year

7

66,258

94,018

NET CURRENT ASSETS

451,325

441,298

TOTAL ASSETS LESS CURRENT LIABILITIES

458,877

447,493

PROVISIONS FOR LIABILITIES

9

1,435

1,177

NET ASSETS

457,442

446,316

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

457,342

446,216

SHAREHOLDERS' FUNDS

457,442

446,316

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 director acknowledges his 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 director and authorised for issue on 22 September 2025 and were signed by:

Mr G R Smith - Director

1.	STATUTORY INFORMATION

GRS 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.

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

-

25% on reducing balance

Computer equipment

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

3,412

8,379

11,791

Additions

460

3,415

3,875

At 31 December 2024

3,872

11,794

15,666

DEPRECIATION

At 1 January 2024

1,537

4,059

5,596

Charge for year

529

1,989

2,518

At 31 December 2024

2,066

6,048

8,114

NET BOOK VALUE

At 31 December 2024

1,806

5,746

7,552

At 31 December 2023

1,875

4,320

6,195

5.

STOCKS

2024

2023

£

£

Stocks

168,500

123,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

27,399

Directors' current accounts

9,923

-

9,923

27,399

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans (see note 8)

28,474

28,474

Tax

14,436

30,534

Social security and other taxes

120

196

VAT

9,905

10,194

Other creditors

12,874

22,111

Directors' current accounts

-

2,230

Accrued expenses

449

279

66,258

94,018

Other creditors includes an amount in relation to a credit card liability of £12,874 (2023: £22,111).

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Other loans

28,474

28,474

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

1,435

1,177

Deferred tax

£

Balance at 1 January 2024

1,177

Provided during year

258

Balance at 31 December 2024

1,435

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G R Smith.