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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED |
ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED |
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COMPANY INFORMATION |
for the year ended 30 June 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
1110 Elliott Court |
Herald Avenue |
Coventry Business Park |
Coventry |
West Midlands |
CV5 6UB |
ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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BALANCE SHEET |
30 June 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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RESERVES |
Income and expenditure account |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2019 |
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1. | STATUTORY INFORMATION |
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Associated Electrical Distributors Limited is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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The policies adopted for the recognition of turnover is as follows:- |
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Income from members |
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Income from members can be in the form of subscription income, member fines and joining fees. This |
is all invoiced and sales ledger invoices are recognised at the date of invoice. |
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Prepayments and accrued income, other debtors and deferred income are recognised as appropriate. |
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Catalogue income |
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The company recognises profits on each version of their catalogue when the issue is finished. |
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Conference income |
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The company collects income from it's suppliers and members on an invoice basis for an annual |
conference. This is shown in a separate account in the financial statements under reserves and any |
conference expenditure is set against it. |
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Marketing support income |
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Marketing support income is recognised on an invoice basis and is made up of revenue received from |
industry suppliers and is calculated as a percentage of member rebates received, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2019 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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As the company falls under the category of a mutual trading body it's only taxed on it's external |
income. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding |
transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares |
are publicly traded or their fair value can otherwise be measured reliably. Other investments are |
measured at cost less impairment. |
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Debtors and creditors receivable/payable within 1 year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
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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 |
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The interest element of these obligations is charged to surplus or deficit over the relevant period. The |
capital element of the future payments is treated as a liability. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 July 2018 |
and 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Accrued expenses |
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ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2019 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2019 | 2018 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Hire purchase contracts | 24,990 | - |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | LIMITED LIABILITY |
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The company is a company limited by guarantee and does not have any share capital. Every member |
of the company undertakes to contribute to the assets of the company in the event of it being wound |
up, such amounts as may be required for the payments of its debts and liabilities not exceeding £1. |
ASSOCIATED ELECTRICAL DISTRIBUTORS |
LIMITED (REGISTERED NUMBER: 01234173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2019 |
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13. | CAPITAL AND RESERVES |
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General | Conferences | Total |
£ | £ | £ |
At 1st July 2018 | 396,638 | (203,544 | ) | 193,094 |
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Profit/(loss) for the year | ( 9,700 | ) | 57,362 | 47,662 |
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At 30th June 2019 | 386,938 | (146,182 | ) | 240,756 |