REGISTERED NUMBER: 04969629 (England and Wales)

EXEL BEARINGS & ENGINEERING SUPPLIES

LTD

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Thorneywork

REGISTERED OFFICE:

Unit 10, Maple Court

Sandwell Business Park

Crystal Drive

Smethwick

West Midlands

B66 1RB

REGISTERED NUMBER:

04969629 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Tangible assets

4

29,011

37,373

CURRENT ASSETS

Stocks

18,209

18,666

Debtors

5

205,940

265,662

Cash at bank

146,858

71,339

371,007

355,667

CREDITORS

Amounts falling due within one year

6

356,351

356,414

NET CURRENT ASSETS/(LIABILITIES)

14,656

(747

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,667

36,626

CREDITORS

Amounts falling due after more than one year

7

17,160

11,664

NET ASSETS

26,507

24,962

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

26,506

24,961

26,507

24,962

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 11 November 2025 and were signed by:

S Thorneywork - Director

1.	STATUTORY INFORMATION

Exel Bearings & Engineering Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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 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 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.

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

209

15,421

55,871

71,501

Additions

-

1,055

-

1,055

At 31 March 2025

209

16,476

55,871

72,556

DEPRECIATION

At 1 April 2024

82

13,253

20,793

34,128

Charge for year

31

616

8,770

9,417

At 31 March 2025

113

13,869

29,563

43,545

NET BOOK VALUE

At 31 March 2025

96

2,607

26,308

29,011

At 31 March 2024

127

2,168

35,078

37,373

The net book value of tangible fixed assets includes £ 24,305 (2024 - £ 32,407 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

190,953

241,793

Directors' current accounts

14,987

23,869

205,940

265,662

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

8,862

33,219

Trade creditors

228,033

211,231

Social security and other taxes

80,177

77,745

Other creditors

11,969

11,512

Accrued expenses

17,310

12,707

356,351

356,414

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

1,666

10,000

Bank loans - 2-5 years

-

1,664

Hire purchase contracts

15,494

-

17,160

11,664

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

24,356

-

Hire purchase liabilities are secured on the assets to which the borrowing relates.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

S Thorneywork

Balance outstanding at start of year

23,869

39,620

Amounts advanced

70,418

51,495

Amounts repaid

(79,300

)

(67,246

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,987

23,869