Quality Electrical Supplies and Technology Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 2616061

Quality Electrical Supplies and Technology Limited

Filleted Financial Statements

For the year ended

31 March 2025

Quality Electrical Supplies and Technology Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		14,777		16,029

Current assets

Stocks		379,439	242,038
Debtors	6	1,413,047	1,373,556
Cash at bank and in hand		10,203	15,484
		-------------	-------------
		1,802,689	1,631,078

Creditors: amounts falling due within one year	7	1,283,124		1,000,832
		-------------		-------------
Net current assets			519,565		630,246
			----------		----------
Total assets less current liabilities			534,342		646,275

Provisions

Taxation including deferred tax	909	1,001
	----------	----------
Net assets	533,433	645,274
	----------	----------

Quality Electrical Supplies and Technology Limited

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

Capital and reserves

Called up share capital	2,466	2,466
Share premium account	3,975	3,975
Capital redemption reserve	277	277
Profit and loss account	526,715	638,556
	----------	----------
Shareholders funds	533,433	645,274
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

A. Wood
Director

Company registration number: 2616061

Quality Electrical Supplies and Technology Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private limited company limited by shares.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The company has extended the accounting period end date from 28 February to 31 March 2024 to align with other group members. Therefore the comparatives figures show 13 months results vs 12 months in the current year.

(b) Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

(c) 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 despatch 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.

(d) Current & deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively . Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(e) Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

(f) Tangible assets

All fixed assets are initially recorded at cost.

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	10% / 25% per annum
Motor Vehicles	-	25% per annum

(h) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(i) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(j) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

(k) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 40 (2024: 50 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost/Valuation
At 1 April 2024	232,941	232,941
Additions	3,674	3,674
	----------	----------
At 31 March 2025	236,615	236,615
	----------	----------
Depreciation
At 1 April 2024	216,912	216,912
Charge for the year	4,926	4,926
	----------	----------
At 31 March 2025	221,838	221,838
	----------	----------
Carrying amount
At 31 March 2025	14,777	14,777
	----------	----------
At 31 March 2024	16,029	16,029
	----------	----------

6. Debtors

	2025	2024
	£	£
Trade debtors	911,476	933,626
Other debtors	501,571	439,930
	-------------	-------------
	1,413,047	1,373,556
	-------------	-------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	584,163	391,506
Accruals	158,926	210,117
Corporation tax	28,366	31,328
Social security and other taxes	95,622	166,698
Amounts owed to other group companies	13,390	174,688
Other loans	5,126	18,912
Other creditors	397,531	7,583
	-------------	-------------
	1,283,124	1,000,832
	-------------	-------------

Other creditors relating to invoice financing are secured by legal charges over assets held by the company.

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	160,381	158,769
Later than 1 year and not later than 5 years	208,705	262,470
	----------	----------
	369,086	421,239
	----------	----------

9. Summary audit opinion

The auditor's report dated 24 December 2025 was unqualified .

The senior statutory auditor was Jeffrey Williamson FCA , for and on behalf of Townends Accountants LLP .

10. Related party transactions

The company is a wholly owned subsidiary undertaking and is therefore exempt from disclosing related party transactions with other group companies.

11. Controlling party

The company is a wholly owned subsidiary of ESP Play Limited , a company registered in Scotland whose registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN. The ultimate holding company is Hollywood Investments Limited , a company registered in the United Kingdom whose registered office is Fulford Lodge, 1 Heslington Lane, York, YO10 4HW. The largest and smallest group in which the results of the company are consolidated is that headed by Hollywood Investments Limited. The consolidated financial statements may be obtained from 5 Eastham Place, Burnley, Lancashire, BB11 3DA. The ultimate controlling party is Andrew Wood.