ACCOUNTS - Final Accounts

Company registration number: 00937620

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	DOWN STREET ELECTRICS LIMITED


DOWN STREET ELECTRICS LIMITED

COMPANY INFORMATION

Directors	J G Everett
	B A Everett
	L J Everett
	J A Jenkins


Company secretary	B A Everett


Registered number	00937620


Registered office	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


Trading Address	19-23 Lydden Road
	Wandsworth
	London
	SW18 4LT



Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


DOWN STREET ELECTRICS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 7


DOWN STREET ELECTRICS LIMITED REGISTERED NUMBER:00937620

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		1,904,534		2,059,114
Investments	5		100		100
			1,904,634		2,059,214
Current assets
Stocks		1,786,411		1,880,395
Debtors: amounts falling due within one year	6	2,015,553		1,970,399
Bank and cash balances		2,949,516		2,815,553
		6,751,480		6,666,347
Creditors: amounts falling due within one year	7	(957,290)		(1,077,253)
Net current assets			5,794,190		5,589,094
Total assets less current liabilities			7,698,824		7,648,308
Provisions for liabilities
Deferred tax		(146,371)		(156,917)
			(146,371)		(156,917)
Net assets			7,552,453		7,491,391

Capital and reserves
Called up share capital	39,689	39,689
Revaluation reserve	271,363	292,713
Capital redemption reserve	36,311	36,311
Profit and loss account	7,205,090	7,122,678
	7,552,453	7,491,391

Page 1


DOWN STREET ELECTRICS LIMITED REGISTERED NUMBER:00937620

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J A Jenkins

Director

Date: 23 December 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2


DOWN STREET ELECTRICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Down Street Electrics Limited is a private company limited by shares incorporated in England and Wales under the Companies Act 2006. The address of the registered office and the trading address are given on the Company Information page. The functional and presentational currency is GBP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on dispatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3


DOWN STREET ELECTRICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets

All fixed assets except freehold property are initially recorded at cost.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	Straight line over twenty five years
Plant and machinery	-	15 to 25% reducing balance
Motor vehicles	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4


DOWN STREET ELECTRICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Employees

The average monthly number of employees, including directors, during the year was 32 (2024 -31).

Page 5


DOWN STREET ELECTRICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Land and buildings	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	3,423,315	98,445	206,512	46,602	3,774,874
Disposals	-	(26,705)	-	-	(26,705)
At 31 March 2025	3,423,315	71,740	206,512	46,602	3,748,169
Depreciation
At 1 April 2024	1,479,170	85,348	104,640	46,602	1,715,760
Charge for the year on owned assets	112,214	1,455	38,305	-	151,974
Disposals	-	(24,099)	-	-	(24,099)
At 31 March 2025	1,591,384	62,704	142,945	46,602	1,843,635
Net book value
At 31 March 2025	1,831,931	9,036	63,567	-	1,904,534
At 31 March 2024	1,944,145	13,097	101,872	-	2,059,114

5.	Investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	100
	At 31 March 2025	100

Page 6


DOWN STREET ELECTRICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	298,385	475,731
Amounts owed by group undertakings	1,330,503	1,330,503
Other debtors	170,380	152,932
Prepayments and accrued income	216,285	11,233
	2,015,553	1,970,399

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	414,139	588,449
Amounts owed to group undertakings	24,407	24,407
Corporation tax	59,162	10,387
Other taxation and social security	276,084	219,018
Other creditors	135,775	120,201
Accruals and deferred income	47,723	114,791
	957,290	1,077,253

8.	Post balance sheet events

Following the year-end the company declared a dividend of £1.5m, settled via the intercompany loan account with the parent company.

Page 7