REGISTERED NUMBER: 01905949 (England and Wales)

Financial Statements for the Year Ended 30 April 2025

for

Abex Power Components Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M N Barrett

A Barrett

J Spargo

J Hosler-Cowburn

J R Westhead

SECRETARY:

A Barrett

REGISTERED OFFICE:

The Warehouse

Off Smethurst Lane

Pemberton

Wigan

Lancashire

WN5 8BL

REGISTERED NUMBER:

01905949 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

281,172

278,139

CURRENT ASSETS

Stocks

470,528

522,810

Debtors

5

516,320

652,282

Cash at bank and in hand

61,631

73,199

1,048,479

1,248,291

CREDITORS

Amounts falling due within one year

6

802,646

978,356

NET CURRENT ASSETS

245,833

269,935

TOTAL ASSETS LESS CURRENT LIABILITIES

527,005

548,074

CREDITORS

Amounts falling due after more than one year

7

(58,937

)

(45,869

)

PROVISIONS FOR LIABILITIES

10

(28,220

)

(26,360

)

NET ASSETS

439,848

475,845

CAPITAL AND RESERVES

Called up share capital

11

6,000

6,000

Capital redemption reserve

500

500

Retained earnings

433,348

469,345

SHAREHOLDERS' FUNDS

439,848

475,845

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 11 November 2025 and were signed on its behalf by:

J Spargo - Director

J R Westhead - Director

1.	STATUTORY INFORMATION

Abex Power Components 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

1% per annum on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance and Over the term of the lease

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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 balance sheet 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.

Hire purchase and 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.

Pension costs and other post-retirement benefits

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. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2024

199,471

35,447

66,527

193,070

494,515

Additions

-

-

3,406

52,499

55,905

Disposals

-

-

(5,228

)

(34,306

)

(39,534

)

At 30 April 2025

199,471

35,447

64,705

211,263

510,886

DEPRECIATION

At 1 May 2024

65,735

34,721

54,175

61,745

216,376

Charge for year

1,993

180

3,266

38,094

43,533

Eliminated on disposal

-

-

(4,991

)

(25,204

)

(30,195

)

At 30 April 2025

67,728

34,901

52,450

74,635

229,714

NET BOOK VALUE

At 30 April 2025

131,743

546

12,255

136,628

281,172

At 30 April 2024

133,736

726

12,352

131,325

278,139

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2024

70,374

Additions

52,500

At 30 April 2025

122,874

DEPRECIATION

At 1 May 2024

13,032

Charge for year

20,899

At 30 April 2025

33,931

NET BOOK VALUE

At 30 April 2025

88,943

At 30 April 2024

57,342

5.

DEBTORS

30.4.25

30.4.24

£

£

Amounts falling due within one year:

Trade debtors

495,831

633,403

Other debtors

2,400

2,400

Prepayments

11,654

7,644

509,885

643,447

Amounts falling due after more than one year:

Other debtors

6,435

8,835

Aggregate amounts

516,320

652,282

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Hire purchase contracts (see note 8)

21,421

11,796

Trade creditors

381,724

458,333

Corporation tax

31,796

30,168

Social security and other taxes

13,051

16,637

VAT

50,232

43,893

Factoring creditor

279,165

389,228

Directors' current accounts

13,526

13,526

Accrued expenses

11,731

14,775

802,646

978,356

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Hire purchase contracts (see note 8)

58,937

45,869

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.4.25

30.4.24

£

£

Net obligations repayable:

Within one year

21,421

11,796

Between one and five years

58,937

45,869

80,358

57,665

Non-cancellable

operating leases

30.4.25

30.4.24

£

£

Within one year

2,213

2,122

Between one and five years

3,744

1,061

5,957

3,183

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.25

30.4.24

£

£

Hire purchase contracts

80,358

57,665

Factoring creditor

279,165

389,228

359,523

446,893

Net obligations under hire purchase contracts are secured on the assets to which they relate.

The factoring creditor is secured by a fixed and floating charge, dated 28 June 2005, on all the property and other assets of the company.

10.	PROVISIONS FOR LIABILITIES

30.4.25

30.4.24

£

£

Deferred tax

28,220

26,360

Deferred

tax

£

Balance at 1 May 2024

26,360

Charge to Statement of Income and Retained Earnings during year

1,860

Balance at 30 April 2025

28,220

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.25

30.4.24

value:

£

£

4,500

Ordinary

£1

4,500

4,500

1,500

A Ordinary

£1

1,500

1,500

6,000

6,000

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Barrett.