REGISTERED NUMBER: 07388659 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EXPRESS ELECTRICAL DISTRIBUTORS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Statement of Financial Position

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

S P Jackson

A L Jackson

REGISTERED OFFICE:

49-51 Miry Lane

Wigan

WN3 4AF

REGISTERED NUMBER:

07388659 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Lloyds Bank Plc

Market Street

Wigan

WN1 1JN

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activity of the Company is the supply of electrical products and lighting design. The Company's strategy is to achieve long term sustained and profitable growth while also providing an environment for our staff to develop and grow their experience and careers within the business.

The Company had another successful year with turnover exceeding £16m for a third year in succession.

The Company has built on its relationships with suppliers after becoming a member of the Associated Independent Electrical Wholesalers buying group. This relationship has improved the Company's buying power and trade terms which have contributed to the improvement in GP% compared to last year.

During the year the Company has invested a substantial amount of time and resources improving the infrastructure, administration and sales as well as developing relationships in new market sectors. We are grateful to our staff, customers and suppliers for their continued loyalty and support throughout 2023 and look forward to building and strengthening these relationships in 2024.

Financial key performance indicators

2024

2023

£

£

Turnover

16,560,424

16,221,453

Gross profit

4,369,278

4,157,749

Gross margin

26.38%

25.63%

EBITDA

400,904

533,800

Cash at Bank and Cash equivalents

190,769

149,989

Operational review

The Board are pleased to report that in 2024, sales and gross profit have increased from the previous year and report a healthy profit for the year.

Our plans for the future continue to be the investment in our staff, IT, and internal processes. We also aim to strengthen our presence in existing and new markets and develop the services we can offer our customers.

Our people

The success of any business is due to the quality and leadership of its team members. Our staff continue to demonstrate great loyalty, commitment, drive and skills and our colleagues are key to the company and its continued success.

Sales and competition

The directors review sales and forecasts on a daily basis. The company maintains a good order book and a considerable amount of efforts are put in to maintain customer activities.

Intense competition continues between regional firms who operate with exceptionally low margins, driving down gross margins and financial returns.

PRINCIPAL RISKS AND UNCERTAINTIES

The following are the principal risk factors, which could materially impact the Company's future operating profits or financial position. The Company has embedded systems and controls to monitor and actively manage each of these potential exposures with regular reviews and proactive management of these risks.

Supplier costs and risks

Significant changes in supplier terms leading to price increases in raw materials and supply chain difficulties due to world economic issues.

Import carriage charges have increased as a result of global events, which have also contributed to additional delays receiving goods causing a disruption to the supply chain.

Credit risk

Appropriate credit checks are undertaken on all potential customers before liabilities are incurred. Any potential exposures are monitored on an ongoing basis to ensure bad debts are minimised.

A credit insurance policy is in place to further reduce risk of material bad debts.

Liquidity risk

Senior Management monitors cash flow constantly to ensure sufficient funds are available for all requirements.

ON BEHALF OF THE BOARD:

S P Jackson - Director

29 September 2025

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 the supply of electrical products and lighting design.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 was £1,000 (2023 - £4,000).

DIRECTORS

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

S P Jackson

A L Jackson

CHARITABLE DONATIONS AND EXPENDITURE

Donations of £3,715 (2023 - £1,297) have been made by the company during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

S P Jackson - Director

29 September 2025

Opinion

We have audited the financial statements of Express Electrical Distributors Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation, Health and Safety and hygiene regulations.

- we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias.

- we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above;

- we enquired of the directors about actual and potential litigation and claims.

Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material

misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

29 September 2025

TURNOVER

3

16,560,424

16,221,453

Cost of sales

12,191,146

12,063,704

GROSS PROFIT

4,369,278

4,157,749

Administrative expenses

4,078,444

3,711,659

290,834

446,090

Other operating income

12,000

12,000

OPERATING PROFIT

5

302,834

458,090

Interest payable and similar expenses

6

21,675

28,882

PROFIT BEFORE TAXATION

281,159

429,208

Tax on profit

7

72,298

108,628

PROFIT FOR THE FINANCIAL YEAR

208,861

320,580

PROFIT FOR THE YEAR

208,861

320,580

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

208,861

320,580

FIXED ASSETS

Intangible assets

9

85,218

98,652

Tangible assets

10

488,886

440,111

Investment property

11

-

225,131

574,104

763,894

CURRENT ASSETS

Stocks

12

1,523,275

1,353,198

Debtors

13

5,081,561

5,531,764

Cash at bank and in hand

190,769

149,989

6,795,605

7,034,951

CREDITORS

Amounts falling due within one year

14

4,060,811

4,586,123

NET CURRENT ASSETS

2,734,794

2,448,828

TOTAL ASSETS LESS CURRENT LIABILITIES

3,308,898

3,212,722

CREDITORS

Amounts falling due after more than one year

15

(102,856

)

(202,546

)

PROVISIONS FOR LIABILITIES

19

(90,149

)

(102,144

)

NET ASSETS

3,115,893

2,908,032

CAPITAL AND RESERVES

Called up share capital

20

3

3

Retained earnings

21

3,115,890

2,908,029

SHAREHOLDERS' FUNDS

3,115,893

2,908,032

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:

S P Jackson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

3

2,591,449

2,591,452

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

320,580

320,580

Balance at 31 December 2023

3

2,908,029

2,908,032

Changes in equity

Dividends

-

(1,000

)

(1,000

)

Total comprehensive income

-

208,861

208,861

Balance at 31 December 2024

3

3,115,890

3,115,893

1.	STATUTORY INFORMATION

Express 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Judgements and key source of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Judgements

a) Investment property

The carrying value of investment property has been assessed by the directors, taking into account current market conditions.

b) Useful economic lives

The useful economic lives of tangible and intangible fixed assets are assessed on an annual basis on the latest available information. Management believe that the useful economic lives being used currently are still

appropriate.

Turnover

Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the sale of electrical products, which are recognised at the point of which the goods are provided. Turnover also consists of management charges receivable from an associated company, which is invoiced monthly.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been fully amortised over its estimated useful life of ten years.

Intangible assets

Amortisation on intangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following rate:

Computer software

20% on cost

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less depreciation and any impairment.

Depreciation is calculated at the following annual rates to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Improvements to property

5% - 10% on cost

Fixtures and fittings

10% - 20% on cost

Motor vehicles

15% - 25% on cost

Investment property

Investment property is included at fair value. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise purchase, duty and carriage are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Provisions are made for obsolete, slow moving or defective items where appropriate.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Leases are classified as hire purchase contracts when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. All other leases are classified as operating leases.

Rentals paid under operating leases are charged to profit and 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the trade debtors and other debtors are stated at cost less

impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other

short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In

the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024

2023

£

£

Electrical goods wholesale

16,425,424

15,981,453

Management charges

135,000

240,000

16,560,424

16,221,453

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

15,916,955

15,300,160

Rest of the world

643,469

921,293

16,560,424

16,221,453

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,000,873

2,001,552

Social security costs

187,295

200,169

Other pension costs

247,873

61,426

2,436,041

2,263,147

The average number of employees during the year was as follows:

2024

2023

Directors

2

2

Sales and Administration

59

61

61

63

2024

2023

£

£

Directors' remuneration

89,534

88,784

Directors' pension contributions to money purchase schemes

183,551

1,925

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

£

£

Other operating leases

210,205

213,698

Depreciation - owned assets

64,342

49,767

Depreciation - assets on hire purchase

20,294

12,878

(Profit)/Loss on disposal of fixed assets

28,002

(300)

Computer software amortisation

13,434

13,065

Auditor's remuneration

21,000

20,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

19,140

24,828

Other interest

2,535

1,284

Interest on overdue tax paid

-

2,770

21,675

28,882

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

84,293

72,026

Corporation tax - prior year

-

(890

)

Total current tax

84,293

71,136

Deferred tax - current year

(11,995

)

37,492

Tax on profit

72,298

108,628

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

281,159

429,208

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

70,290

100,950

Effects of:

Expenses not deductible for tax purposes

4,002

6,349

Adjustments to tax charge in respect of previous periods

-

(890

)

Remeasurement of deferred tax for changes in tax rates

-

2,219

Fixed asset differences

7,426

-

Movement in defrred tax not recognised

(9,419

)

-

Rounding

(1

)

-

Total tax charge

72,298

108,628

8.

DIVIDENDS

2024

2023

£

£

Ordinary shares of 1 each

Final

1,000

4,000

9.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

10,000

134,345

144,345

AMORTISATION

At 1 January 2024

10,000

35,693

45,693

Amortisation for year

-

13,434

13,434

At 31 December 2024

10,000

49,127

59,127

NET BOOK VALUE

At 31 December 2024

-

85,218

85,218

At 31 December 2023

-

98,652

98,652