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Registered number: 2692021
Dean Electrical Wholesale Ltd
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 28 February 2025
19 Church Street
Ross on Wye
Herefordshire
HR9 5HN
Dean Electrical Wholesale Ltd
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2
Independent Auditor's Report | 3—5
Profit and Loss Account | 6
Statement of Comprehensive Income | 7
Balance Sheet | 8
Statement of Changes in Equity | 9
Statement of Cash Flows | 10
Notes to the Statement of Cash Flows | 11
Notes to the Financial Statements | 12—17

Page 1
Dean Electrical Wholesale Ltd
Strategic Report
For The Year Ended 28 February 2025
Strategic Report
The directors present their strategic report for the year ended 28 February 2025.
Review of the Business
The results for the year show a profit on ordinary activities before taxation of £853 ( 2024 profit of £740,940) from a turnover of £15,388,951 (2024 - £15,239,539). Shareholders' funds have decreased in the year by 0.5% to £4,336,724 after a loss for the year (after tax) of £5,086. These are the financial key performance indicators used in the business.
Renewable energy remains an expanding market and the company continues meet demand from customers by sourcing cost effective supplies from around the world.
The company has seeked to manage the rising cost of inputs by reviewing all contracts with suppliers and obtaining enhanced discounts for bulk purchasing wherever possible.
The general economic outlook continues to have a significant impact on all customers and the company has managed this succesfully by use of credit reference agenies when opening new customer accounts and constant strict control on credit limits for customers.
Principal Risks and Uncertainties
The key business risks and uncertainties facing the company relate to movements in exchange rates and increasing interest rates, fluctuating world copper prices, changing UK industry regulations and general economic outlook. The company continues to use all resouces available to it to ensure it is resilient as it can be to the above risks and can react quickly to changes and opportunities as they arise.
On behalf of the board

Mr Dennis Boseley Director
31/03/2026

Page 1
Page 2
Dean Electrical Wholesale Ltd
Company No. 2692021
Directors' Report For The Year Ended 28 February 2025
Directors' Report
The directors present their report and the financial statements for the year ended 28 February 2025.
Principal Activity
The company's principal activity continues to be that of wholesale distribution of electrical goods.
Directors
The directors who held office during the year were as follows:

Mrs Marilyn Boseley
Mr Dennis Boseley

Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
- 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors
The auditors, Millhall Consultants Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board

Mr Dennis Boseley Director
31/03/2026

Page 2
Page 3
Independent Auditor's Report
to the Members of
Dean Electrical Wholesale Ltd
Independent Auditor's Report
Qualified opinion
We have audited the financial statements of Dean Electrical Wholesale Ltd for the year ended 28 February 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion, except for the effects of the matter described in the Basis for qualified opinion section, the financial statements:

- give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit/(loss) 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 Qualified Opinion
It has not been possible to obtain sufficent appropriate evidence to verify the valuation of stock. Consequently, we were unable to determine whether any adjustment to these values were necessary.
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 Auditor's 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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.
As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory valuation as at 28 February 2025. We have concluded that where the other information refers to the inventory balance, it may be materially misstated for the same reason.
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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 3
Page 4
Independent Auditor's Report (continued)
to the Members of
Dean Electrical Wholesale Ltd
Matters on Which We Are Required to Report by Exception
In respect of the limitation on our work relating to stock described above:

- we have not obtaied all the information and explanations that we considered necessary for the purpose of our audit: and
- we were unable to determine whether adequate accounting records have been maintained
- except for any matters whcih may arise from the above.

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 Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2, 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 is 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.
Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
Dean Electrical Wholesale Ltd
Auditor's 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 an auditor's report 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.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below
We obtain an understanding of the of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risk of material misstatement of the financial statements whether due to fraud or error, design and perform audit procedure responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations including fraud we designed procedures which included, but were not limited to:
• Agreement of the financial statement disclosures to underlying supporting documentation;
• Enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;
• Review of minutes of the Board meetings throughout the year; and
• Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection
• Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluation the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that we are required to state to them in an auditor's report 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.

Ben Hall FCA (Senior Statutory Auditor) for and on behalf of Millhall Consultants Ltd , Statutory Auditor
31/03/2026
Millhall Consultants Ltd Carlson Suite Vantage Point Business Village Mitcheldean Gloucestershire GL17 0DD

Page 5
Page 6
Dean Electrical Wholesale Ltd
Profit and Loss Account
For The Year Ended 28 February 2025
Profit and Loss Account

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER |  | 15,388,951 |  | 15,239,539
Cost of sales |  | (13,947,007 ) |  | (13,480,174 )
GROSS PROFIT |  | 1,441,944 |  | 1,759,365
Administrative expenses |  | (1,154,165 ) |  | (1,347,027 )
OPERATING PROFIT | 3 | 287,779 |  | 412,338
Fair value gains on investment properties |  | - |  | 581,588
Profit on disposal of fixed assets |  | 250 |  | -
Other interest receivable and similar income | 8 | 6,292 |  | 4,218
Interest payable and similar charges | 9 | (293,468 ) |  | (257,204 )
PROFIT BEFORE TAXATION |  | 853 |  | 740,940
Tax on Profit | 10 | (5,939 ) |  | (48,735 )
(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR |  | (5,086 ) |  | 692,205

The notes on pages 11 to 17 form part of these financial statements.
Page 6
Page 7
Dean Electrical Wholesale Ltd
Statement of Comprehensive Income
For The Year Ended 28 February 2025
Statement of Comprehensive Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
LOSS FOR THE FINANCIAL YEAR |  | (5,086 ) |  | 692,205
OTHER COMPREHENSIVE INCOME FOR THE YEAR |  | - |  | -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |  | (5,086 ) |  | 692,205

Page 7
Page 8
Dean Electrical Wholesale Ltd
Balance Sheet
As At 28 February 2025
Balance Sheet
Registered number: 2692021

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 11 |  | 77,649 |  | 84,086
Investment Properties | 12 |  | 985,000 |  | 985,000
|  |  | 1,062,649 |  | 1,069,086
CURRENT ASSETS
Stocks | 13 | 4,566,598 |  | 4,094,909 |
Debtors | 14 | 6,622,653 |  | 5,752,841 |
Cash at bank and in hand |  | 20,188 |  | 4,334 |
|  | 11,209,439 |  | 9,852,084 |
Creditors: Amounts Falling Due Within One Year | 15 | (7,917,687 ) |  | (6,540,483 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 3,291,752 |  | 3,311,601
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 4,354,401 |  | 4,380,687
PROVISIONS FOR LIABILITIES
Deferred Taxation | 16 |  | (17,677 ) |  | (18,877 )
NET ASSETS |  |  | 4,336,724 |  | 4,361,810
CAPITAL AND RESERVES
Called up share capital | 18 |  | 450,000 |  | 450,000
Profit and Loss Account |  |  | 3,886,724 |  | 3,911,810
SHAREHOLDERS' FUNDS |  |  | 4,336,724 |  | 4,361,810

On behalf of the board

Mr Dennis Boseley Director
31/03/2026

The notes on pages 11 to 17 form part of these financial statements.
Page 8
Page 9
Dean Electrical Wholesale Ltd
Statement of Changes in Equity
For The Year Ended 28 February 2025
Statement of Changes in Equity

| Share Capital | Profit and Loss Account | Total
--- | --- | --- | ---
| £ | £ | £
As at 1 March 2023 | 450,000 | 3,219,605 | 3,669,605
Profit for the year and total comprehensive income | - | 692,205 | 692,205
As at 29 February 2024 and 1 March 2024 | 450,000 | 3,911,810 | 4,361,810
Loss for the year and total comprehensive income | - | (5,086 ) | (5,086)
Dividends paid | - | (20,000) | (20,000)
As at 28 February 2025 | 450,000 | 3,886,724 | 4,336,724

Page 9
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Dean Electrical Wholesale Ltd
Statement of Cash Flows
For The Year Ended 28 February 2025
Statement of Cash Flows

| 2025 |  | 2024
| Notes | £ |  | £
Cash flows from operating activities
Net cash generated from/(used in) operations | 1 | 755,902 |  | (663,807 )
Interest paid |  | (293,468 ) |  | (257,204 )
Tax paid |  | (99,915 ) |  | -
Net cash generated from/(used in) operating activities |  | 362,519 |  | (921,011 )
Cash flows from investing activities
Purchase of tangible assets |  | (21,895 ) |  | (35,500 )
Proceeds from disposal of tangible assets |  | 250 |  | -
Interest received |  | 6,292 |  | 4,218
Net cash used in investing activities |  | (15,353 ) |  | (31,282 )
Cash flows from financing activities
Equity dividends paid |  | (20,000 ) |  | -
Amount withdrawn by directors |  | - |  | (378)
Net cash used in financing activities |  | (20,000 ) |  | (378 )
Increase/(decrease) in cash and cash equivalents |  | 327,166 |  | (952,671 )
Cash and cash equivalents at beginning of year | 2 | (3,473,094 ) |  | (2,520,423 )
Cash and cash equivalents at end of year | 2 | (3,145,928 ) |  | (3,473,094 )

Page 10
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Dean Electrical Wholesale Ltd
Notes to the Statement of Cash Flows
For The Year Ended 28 February 2025
Notes to the Statement of Cash Flows
1. Reconciliation of (loss)/profit for the financial year to cash generated from/(used in) operations

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
(Loss)/profit for the financial year | (5,086 ) |  | 692,205
Adjustments for:
Tax on (loss)/profit | 5,939 |  | 48,735
Interest expense | 293,468 |  | 257,204
Interest income | (6,292 ) |  | (4,218 )
Depreciation of tangible assets | 28,332 |  | 37,476
Profit on disposal of tangible assets | (250) |  | -
Net fair value gains recognised in profit or loss | - |  | (581,588)
Movements in working capital:
Increase in stocks | (471,689 ) |  | (81,225 )
Increase in trade and other debtors | (869,812 ) |  | (182,330 )
Increase/(decrease) in trade and other creditors | 1,781,292 |  | (850,066 )
Net cash generated from/(used in) operations | 755,902 |  | (663,807 )

2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cash at bank and in hand | 20,188 |  | 4,334
Overdraft facilities repayable on demand | (3,166,116 ) |  | (3,477,428 )
Cash and cash equivalents as stated in the Statement of Cash Flows | (3,145,928) |  | (3,473,094)

3. Analysis of changes in net debt

| As at 1 March 2024 | Cash flows | As at 28 February 2025
--- | --- | --- | ---
| £ | £ | £
Cash at bank and in hand | 4,334 | 15,854 | 20,188
Overdraft facilities repayable on demand | (3,477,428) | 311,312 | (3,166,116)
Cash and cash equivalents | (3,473,094 ) | 327,166 | (3,145,928 )

Page 11
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Dean Electrical Wholesale Ltd
Notes to the Financial Statements
For The Year Ended 28 February 2025
Notes to the Financial Statements
1. General Information
Dean Electrical Wholesale Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 2692021 . The registered office is 19 Church Street, Ross on Wye, Herefordshire, HR9 5HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | 2% on cost
Leasehold | 15% on written down value
Plant & Machinery | 15% on written down value
Motor Vehicles | 25% on written down value
Computer Equipment | 25% on written down value

2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Page 12
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Dean Electrical Wholesale Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Operating Profit
The operating profit is stated after charging:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bad debts | (90,000) |  | 17,000
Depreciation of tangible fixed assets | 28,332 |  | 37,476

4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 10,000 |  | 12,000

5. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Wages and salaries | 556,798 |  | 506,665
Social security costs | 45,145 |  | 39,943
Other pension costs | 14,196 |  | 11,948
| 616,139 |  | 558,556

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Dean Electrical Wholesale Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
6. Average Number of Employees
Average number of employees, including directors, during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
Office and administration | 4 |  | 4
Sales, marketing and distribution | 18 |  | 18
| 22 |  | 22

7. Directors' remuneration

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 7,464 |  | 7,464

8. Interest Receivable and Similar Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank interest receivable | 6,292 |  | 4,218

9. Interest Payable and Similar Charges

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 285,340 |  | 251,302
Late payment tax charges | 8,128 |  | 5,902
| 293,468 |  | 257,204

10. Tax on Profit

The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 25.0% | 24.5% | 7,139 |  | 41,806
Deferred Tax
Deferred taxation | (1,200 ) |  | 6,929
Total tax charge for the period | 5,939 |  | 48,735
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 |  | 2024
| £ |  | £
Profit before tax | 853 |  | 740,940
Tax on profit at 25% (UK standard rate) | 213 |  | 69,868
Goodwill/depreciation not allowed for tax | 7,021 |  | 9,181

...CONTINUED
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Dean Electrical Wholesale Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025

Expenses not deductible for tax purposes | 5,765 |  | (28,269 )
Capital allowances | (5,674 ) |  | (8,951 )
Short term timing differences | (1,200 ) |  | 6,929
Difference in tax rates | (186 ) |  | (23 )
Total tax charge for the period | 5,939 |  | 48,735

11. Tangible Assets

| Land & Property
--- | ---
| Freehold | Leasehold | Plant & Machinery | Motor Vehicles | Total
| £ | £ | £ | £ | £
Cost
As at 1 March 2024 | 240,949 | 43,591 | 352,300 | 491,009 | 1,127,849
Additions | - | - | - | 21,895 | 21,895
As at 28 February 2025 | 240,949 | 43,591 | 352,300 | 512,904 | 1,149,744
Depreciation
As at 1 March 2024 | 240,949 | 39,726 | 310,549 | 452,539 | 1,043,763
Provided during the period | - | 580 | 6,263 | 21,489 | 28,332
As at 28 February 2025 | 240,949 | 40,306 | 316,812 | 474,028 | 1,072,095
Net Book Value
As at 28 February 2025 | - | 3,285 | 35,488 | 38,876 | 77,649
As at 1 March 2024 | - | 3,865 | 41,751 | 38,470 | 84,086

12. Investment Property

| 2025
--- | ---
| £
Fair Value
As at 1 March 2024 and 28 February 2025 | 985,000
Transfers | -
Fair value adjustments | -
As at 28 February 2025 | 985,000

13. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 4,566,598 |  | 4,094,909

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Dean Electrical Wholesale Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
14. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 4,889,461 |  | 4,794,708
Prepayments and accrued income | 99,725 |  | 17,068
Other debtors | 1,633,467 |  | 941,065
| 6,622,653 |  | 5,752,841

15. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 3,050,973 |  | 1,765,678
Bank loans and overdrafts | 3,166,116 |  | 3,477,428
Other creditors | 1,359,494 |  | 731,405
Corporation tax | 66,598 |  | 159,374
Taxation and social security | 249,641 |  | 271,663
Accruals and deferred income | 24,865 |  | 134,935
| 7,917,687 |  | 6,540,483

16. Deferred Taxation
The provision for deferred tax is made up as follows: £1,200

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 17,677 |  | 18,877

17. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 March 2024 | 18,877 | 18,877
Utilised | (1,200 ) | (1,200)
Balance at 28 February 2025 | 17,677 | 17,677

18. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
450,000 Ordinary Shares of £ 1.000 each | 450,000 |  | 450,000

19. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £14,196 (2024: £11,948).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
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Dean Electrical Wholesale Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
20. Dividends

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
On equity shares:
Final dividend paid | 20,000 |  | -

The total of dividends are as following:£20,000.00.
21. Related Party Disclosures
Transactions with other Related Companies
During the year the company sold goods to related companies of £3,246,560 ( 2024 £3,310,723) and made purchases of £844,202 (2024 £1,127,167). At the balance sheet date the amount due from related companies was £3,932,219 (2024 £3,375,553) and the amount due to related companies was £644,434 ( 2024 £647,289).
Transactions with Directors
During the year dividends totalling £20,000 (2024 £0) were paid to the directors. The amount due to directors at balance sheet date was £4,571 (2024 £4,571).
22. Controlling Parties
The company's ultimate controlling party are the Directors by virtue of their interest in the share capital of the company.
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