REGISTERED NUMBER: 04592283 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Norwood Electrical (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Shuttlewood

Mrs J M Shuttlewood

SECRETARY:

J D Shuttlewood

REGISTERED OFFICE:

The Coach House

Lockington Hall

Lockington

Derbyshire

DE74 2RH

REGISTERED NUMBER:

04592283 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

45,674

57,621

45,674

57,621

CURRENT ASSETS

Stocks

1,849

4,720

Debtors

6

1,333,217

1,692,935

Cash at bank and in hand

17,133

16,533

1,352,199

1,714,188

CREDITORS

Amounts falling due within one year

7

1,300,013

1,598,452

NET CURRENT ASSETS

52,186

115,736

TOTAL ASSETS LESS CURRENT LIABILITIES

97,860

173,357

CAPITAL AND RESERVES

Called up share capital

14,800

14,800

Retained earnings

83,060

158,557

SHAREHOLDERS' FUNDS

97,860

173,357

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J D Shuttlewood - Director

1.	STATUTORY INFORMATION

Norwood Electrical (UK) 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 represents net invoiced sales of services, excluding value added tax where applicable. Turnover is accounted for in the year in which the services are provided. In the case of work in progress it includes relevant costs and overheads plus attributable profit to date.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

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.

Grants

Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

Debt factoring

The debts factored are included within trade debtors with a financing limit relating to proceeds received from the debt factor included within creditors.

The interest element and other factoring charges are recognised within the profit and loss account as they accrue.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2023 - 101 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

27,000

AMORTISATION

At 1 January 2024

and 31 December 2024

27,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

110,085

64,234

99,820

274,139

DEPRECIATION

At 1 January 2024

80,124

43,685

92,709

216,518

Charge for year

4,494

3,082

4,371

11,947

At 31 December 2024

84,618

46,767

97,080

228,465

NET BOOK VALUE

At 31 December 2024

25,467

17,467

2,740

45,674

At 31 December 2023

29,961

20,549

7,111

57,621

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

815,751

1,153,007

Amounts owed by group undertakings

362,695

362,695

Other debtors

105

759

Directors' current account

-

3,429

Prepayments

154,666

173,045

1,333,217

1,692,935

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

16,447

45,867

Invoice discounting account

599,566

852,574

Trade creditors

322,046

339,757

Tax

104,724

97,851

Social security and other taxes

224,187

258,917

Other creditors

716

1,012

Directors' current account

32,001

-

Accrued expenses

326

2,474

1,300,013

1,598,452

8.	LEASING AGREEMENTS

The minimum lease payments on non-cancellable operating leases committed be be paid are £167,625 (2023 - £41,000)

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Invoice discounting account

599,566

852,574