Registered number: 01479269
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Director presents the strategic report for the year ended 31 March 2026.
Our main activity is the supply of electrical materials and products. This year, although the pre-tax profits have only risen slightly, from £1.33 to £1.38 million, this represents a much improved performance from the previous year. We have increased our turnover from £23.8 to £25.9 million in a difficult market and although our gross profit percentage has fallen our market penetration has risen and continues to rise. The effects of good recruitment and local initiatives are keeping us moving forward. Government policies have added £200,000 to our costs but our finance team have worked tirelessly to counteract some of this. To sum up we are moving forward but the next year will be difficult as our costs will continue to rise at an above inflation rate.
The Company's key financial and other performance indicators during the year were as follows:
The Company's key financial and other performance indicators during the year were as follows:
The outlook for the UK economy is not good, increasing unemployment, cost of living and taxation rises conspire to make life difficult and even more difficult to predict. Whilst we are currently outperforming the market, both local competition and on-line seller’s pricing policies continue to make life challenging. Bad debts have risen over the last year but not above historical levels, our customer mix shields us from the very big numbers, we must all work together to control failures, a sale is only good when we receive payment. Having said that we will continue to support our customers who need it, if only they will work with us. We still believe that there is a demand for local well stocked branches with helpful and knowledgeable staff. We cannot see an increase in our market , so we will continue to grow our market share and hope the government will not find new ways of making life difficult.
This report was approved by the board and signed on its behalf by:
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DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Director presents his report and the financial statements for the year ended 31 March 2026.
The Director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Director is required to:
∙select suitable accounting policies for the Company's financial statements 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 Director is 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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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 profit for the year, after taxation, amounted to £1,017,191 (2025 - £997,950).
No ordinary dividends were paid during the year 2026 (2025 - £NIL).
The Director who served during the year was:
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DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf by:
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILSON ELECTRICAL DISTRIBUTORS LIMITED
We have audited the financial statements of Wilson Electrical Distributors Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of comprehensive income, the Analysis of net debt, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the Director's 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 Director with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Director is 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 course of 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILSON ELECTRICAL DISTRIBUTORS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
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 Director's report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILSON ELECTRICAL DISTRIBUTORS LIMITED (CONTINUED)
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 Auditors' 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.
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:
• The Company is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were most significant including UK Companies Act,
employment law, health and safety, pensions legislation, GDPR and the tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
• We understood how the Company is complying with legal and regulatory frameworks by making inquiries to management
and those responsible for legal and compliance procedures. We assessed the extent of compliance with these legal and
compliance procedures as part of our procedures on the related financial statement items.
• The engagement partner assessed whether the engagement team collectively had the appropriate competence and
capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
• We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might
occur. We identified the risk of override of controls as the area where the financial statements were most susceptible to
material misstatement due to fraud. Audit procedures performed by the engagement team included:
- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls
or other inappropriate influence over the financial reporting process;
- Challenging assumptions and judgments made by management in its significant accounting estimates; and
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
The assessment did not identify any issues in these areas.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILSON ELECTRICAL DISTRIBUTORS LIMITED (CONTINUED)
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 an Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Victoria House
50-58 Victoria Road
Hampshire
GU14 7PG
Date:
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 22 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
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ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Wilson Electrical Distributors Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The registered office, which is also the principal place of business, is disclosed on the company information page.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentational currency is GBP, which is also rounded to the nearest pound sterling.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following accounting policies have been applied:
At the time of approving the financial statements, the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Director continues to adopt the going concern basis of accounting in preparing the financial statements.
Rent receivable
Rent receivable is recognised on an accruals basis relating to the period of the lease.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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.
Freehold property is reviewed annually for depreciation. No depreciation has been charged because the Directors estimate that the residual value of the property is not materially different from its carrying amount.
Any building alterations made to the freehold property are depreciated over their useful life of 5 - 20 years.
Any building alterations made to the freehold property are depreciated over their useful life of 5 - 20 years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Stock provision
Stock values can decrease due to obsolescence. A provision is therefore determined based on each stockline's movement history. The methodology used to calculate the stock provision is based on the sales history of all items in stock. Where stock has been held for at least 12 months and there have been no sales in the most recent 12 months, a 100% provision of the stock value is made.
Bad debt provision
An estimated provision is made for bad debts when collection of the full amount is no longer probable and the amount of the loss is recognised in the income statement within administrative expenses. The provision is calculated using management's past experience, knowledge of customers and general market conditions.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
There were no factors that may affect future tax charges.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Investment property comprises of buildings that are leased out to third parties. The 2026 valuations were made by reference to market evidence of transaction prices for similar properties, on an open market value basis.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Share premium account
Capital redemption reserve
Profit and loss account
The Company operates a defined contribution pension scheme. The contributions payable in the year are charged to the profit and loss account and amounted to £170,755 (2025 - £171,328). Commitments provided for in the accounts amounted to £209 (2025 - £440).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Following the re-purchase of the company's own share capital from the former Director, the ultimate controlling party is A J Powell.
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