REGISTERED NUMBER: 16017879 (England and Wales)

GB ELECTRICAL WHOLESALE 2 LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 15TH OCTOBER 2024 TO 31ST OCTOB

2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Howitt

N W Butler

SECRETARY:

REGISTERED OFFICE:

7 Bell Yard

London

WC2A 2JR

REGISTERED NUMBER:

16017879 (England and Wales)

ACCOUNTANTS:

Ian R Collins & Co

The Bridge House

Mill Lane

Dronfield

Derbyshire

S18 2XL

FIXED ASSETS

Investments

4

1,761,292

CURRENT ASSETS

Debtors

5

181,986

Cash at bank

442

182,428

CREDITORS

Amounts falling due within one year

6

(1,957,294

)

NET CURRENT LIABILITIES

(1,774,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,574

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(13,674

)

(13,574

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th November 2026 and were signed on its behalf by:

A R Howitt - Director

1.	STATUTORY INFORMATION

GB Electrical Wholesale 2 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

1,761,292

At 31st October 2025

1,761,292

NET BOOK VALUE

At 31st October 2025

1,761,292

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

72,000

Other debtors

109,986

181,986

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1

Other creditors

1,957,293

1,957,294

7.	RELATED PARTY TRANSACTIONS

During the year, the company incurred expenditures of £55,000 to companies that are associated by reason of common control. In accordance with the company's accounting policies, £35,000 of this value was deferred into the following financial year. Consequently, the transaction value recognised in these financial statements is £20,000. At the reporting date, an outstanding balance of £35,000 remains within prepayments.

At the reporting date, the company was owed £19,011 by companies that are associated by reason of common control. This value is included within other debtors.

8.	GOING CONCERN BASIS

At the reporting date, the company owed £1,902,448 to Smart Merchants Ltd, a wholly-owned subsidiary. The company is reliant on this loan remaining outstanding to continue trading.

The directors have reviewed the financial position of both the company and its subsidiary, including cash flow forecasts and trading performance. Based on this review, there is no expectation that the subsidiary will call upon the loan for at least twelve months from the date of approval of these financial statements.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.