REGISTERED NUMBER: 02220717 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

NORTHERN WHOLESALE TOOLS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A M Coward

Ms K C Coward

Mrs L Coward

M Coward

SECRETARY:

Ms K C Coward

REGISTERED OFFICE:

64 Stakehill Industrial Estate

Middleton

Manchester

M24 2RW

REGISTERED NUMBER:

02220717 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

HSBC Bank plc

Manchester Commercial Centre

4 Hardman Square

Spinningfields

Manchester

M3 3EB

FIXED ASSETS

Tangible assets

4

216,129

147,404

CURRENT ASSETS

Stocks

5

2,326,045

1,442,822

Debtors

6

1,634,691

1,423,445

Cash at bank and in hand

88,855

22,249

4,049,591

2,888,516

CREDITORS

Amounts falling due within one year

7

2,291,163

1,087,512

NET CURRENT ASSETS

1,758,428

1,801,004

TOTAL ASSETS LESS CURRENT LIABILITIES

1,974,557

1,948,408

CREDITORS

Amounts falling due after more than one year

8

(11,162

)

(19,206

)

PROVISIONS FOR LIABILITIES

10

(44,000

)

(25,970

)

NET ASSETS

1,919,395

1,903,232

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

1,914,395

1,898,232

SHAREHOLDERS' FUNDS

1,919,395

1,903,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

Ms K C Coward - Director

1.	STATUTORY INFORMATION

Northern Wholesale Tools Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

-

20% on cost

Plant and machinery

-

33% on reducing balance and 20% on reducing balance

Website costs

-

20% on cost

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are recorded at cost less depreciation and impairment.

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 the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each 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.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Short term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Website

property

machinery

costs

£

£

£

COST

At 1 May 2024

149,166

204,533

53,220

Additions

99,472

34,872

-

At 30 April 2025

248,638

239,405

53,220

DEPRECIATION

At 1 May 2024

115,549

123,530

40,387

Charge for year

20,234

36,053

7,154

At 30 April 2025

135,783

159,583

47,541

NET BOOK VALUE

At 30 April 2025

112,855

79,822

5,679

At 30 April 2024

33,617

81,003

12,833

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2024

20,660

62,065

489,644

Additions

-

5,198

139,542

At 30 April 2025

20,660

67,263

629,186

DEPRECIATION

At 1 May 2024

5,423

57,351

342,240

Charge for year

3,099

4,277

70,817

At 30 April 2025

8,522

61,628

413,057

NET BOOK VALUE

At 30 April 2025

12,138

5,635

216,129

At 30 April 2024

15,237

4,714

147,404

The net book value of tangible fixed assets includes £ 35,677 (2024 - £ 38,776 ) in respect of assets held under hire purchase contracts.

5.

STOCKS

2025

2024

£

£

Stocks

2,326,045

1,442,822

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,092,527

1,033,737

Amounts owed by group undertakings

19,710

19,500

Other debtors

522,454

370,208

1,634,691

1,423,445

The company has an invoice discounting arrangement against which certain trade debtors are assigned.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

594,613

206

Hire purchase contracts

8,044

8,044

Trade creditors

174,250

53,252

Taxation and social security

161,096

331,137

Other creditors

1,353,160

694,873

2,291,163

1,087,512

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

11,162

19,206

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

9

206

Bank loans

594,604

-

Hire purchase contracts

19,206

27,250

Invoice discounting

887,846

571,405

1,501,665

598,861

Bank loans, overdrafts and invoice discounting facilities are secured by way of a debenture, a fixed and floating charge over the company assets and a personal guarantee of £300k.

Amounts due on Hire purchase are secured on the assets concerned.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

44,000

25,970

Deferred

tax

£

Balance at 1 May 2024

25,970

Charge to Statement of Income and Retained Earnings during year

18,030

Balance at 30 April 2025

44,000

11.	OTHER FINANCIAL COMMITMENTS

The company had total operating lease commitments amounting to £1,500,528 (2024: £1,756,757).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2025 and 30 April 2024:

2025

2024

£

£

A M Coward

Balance outstanding at start of year

(10,321

)

(40

)

Amounts advanced

31,931

54,163

Amounts repaid

(2,500

)

(64,444

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,110

(10,321

)

Ms K C Coward

Balance outstanding at start of year

(5,373

)

(4,062

)

Amounts advanced

25,098

52,489

Amounts repaid

(6,097

)

(53,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,628

(5,373

)

Interest is charged at 2.25% with balances repaid within 9 months.

A director had provided a personal guarantee amounting to £300,000 (2024: £300,000).

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in Other Creditors is £196,470 (2024: £15,694) due to directors.

14.	ULTIMATE CONTROLLING PARTY

The company is controlled by certain directors, by way of their ownership of the parent company Northern Wholesale Tools Holdings Limited.