REGISTERED NUMBER: 06604542 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

I.E.P. (WHOLESALE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Krall

Miss L Wang

REGISTERED OFFICE:

Unit 5

Reynolds Industrial Park

Stevern Way

Peterborough

Cambridgeshire

PE1 5EL

REGISTERED NUMBER:

06604542 (England and Wales)

ACCOUNTANTS:

GreenStones Limited

9 Commerce Road

Lynchwood

Peterborough

Cambridgeshire

PE2 6LR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

131,101

154,809

131,101

154,809

CURRENT ASSETS

Stocks

498,608

879,907

Debtors

6

1,848,367

1,864,368

Cash at bank and in hand

3,235,459

2,767,408

5,582,434

5,511,683

CREDITORS

Amounts falling due within one year

7

584,276

991,650

NET CURRENT ASSETS

4,998,158

4,520,033

TOTAL ASSETS LESS CURRENT LIABILITIES

5,129,259

4,674,842

PROVISIONS FOR LIABILITIES

32,775

29,414

NET ASSETS

5,096,484

4,645,428

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

5,096,482

4,645,426

SHAREHOLDERS' FUNDS

5,096,484

4,645,428

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 29 September 2025 and were signed on its behalf by:

C Krall - Director

Miss L Wang - Director

1.	STATUTORY INFORMATION

I.E.P. (Wholesale) 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

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 30 (2023 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

430,000

AMORTISATION

At 1 January 2024

and 31 December 2024

430,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

6,900

20,065

90,787

94,517

212,269

Additions

-

11,978

-

1,124

13,102

At 31 December 2024

6,900

32,043

90,787

95,641

225,371

DEPRECIATION

At 1 January 2024

6,425

4,835

15,919

30,281

57,460

Charge for year

95

5,020

18,717

12,978

36,810

At 31 December 2024

6,520

9,855

34,636

43,259

94,270

NET BOOK VALUE

At 31 December 2024

380

22,188

56,151

52,382

131,101

At 31 December 2023

475

15,230

74,868

64,236

154,809

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

289,607

649,824

Other debtors

1,558,760

1,214,544

1,848,367

1,864,368

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

85,006

229,204

Taxation and social security

480,971

527,087

Other creditors

18,299

235,359

584,276

991,650

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

C Krall

Balance outstanding at start of year

96,645

(453

)

Amounts advanced

76,843

107,598

Amounts repaid

(22,512

)

(10,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

150,976

96,645

Miss L Wang

Balance outstanding at start of year

26,173

(453

)

Amounts advanced

128,663

38,311

Amounts repaid

(12,687

)

(11,685

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

142,149

26,173

These loans are unsecured.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr C Krall and Miss L Wang.