REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 29 JUNE 2020 |
|
FOR |
|
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 29 JUNE 2020 |
|
FOR |
|
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED |
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Ground Floor |
Egerton House |
68 Baker Street |
Weybridge |
Surrey |
KT13 8AL |
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
BALANCE SHEET |
29 JUNE 2020 |
|
29.6.20 | 29.6.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
BALANCE SHEET - continued |
29 JUNE 2020 |
|
|
|
|
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
|
|
|
|
|
|
|
|
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
1. | STATUTORY INFORMATION |
|
Addlestone Electrical Wholesalers Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
|
Revenue from sales of goods is recognised when goods are delivered and title has passed. |
|
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off cost less estimated residual value of each asset over its expected useful life , as follows: |
|
Plant & Machinery etc 25% on cost and 25% on reducing balance |
Motor vehicles 25% on reducing balance |
|
Stocks |
Stocks comprises goods held for resale, which are valued at the lower of cost and estimated selling price etc after making due allowance for obsolete and slow moving items. |
|
Cost is based on the cost of purchase including delivery charges and net realisable value is based on the estimated selling price. |
|
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 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 |
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. |
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 June 2019 |
|
Additions |
|
At 29 June 2020 |
|
DEPRECIATION |
At 30 June 2019 |
|
Charge for year |
|
At 29 June 2020 |
|
NET BOOK VALUE |
At 29 June 2020 |
|
At 29 June 2019 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.20 | 29.6.19 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.20 | 29.6.19 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.6.20 | 29.6.19 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
Other creditors |
|
|
|
|
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
29.6.20 | 29.6.19 |
£ | £ |
Bank loans |
|
|
|
HSBC Bank Plc hold a fixed and floating charge over all the property or undertakings of the company. The charge was registered on 29 January 2016. |
|
Both directors have given a personal guarantee of £150,000 each. |
|
9. | PROVISIONS FOR LIABILITIES |
29.6.20 | 29.6.19 |
£ | £ |
Deferred tax | 10,069 | 1,343 |
|
Deferred |
tax |
£ |
Balance at 30 June 2019 |
|
Provided during year |
|
Deferred tax |
Balance at 29 June 2020 |
|
|
10. | CALLED UP SHARE CAPITAL |
|
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.6.20 | 29.6.19 |
value: | £ | £ |
|
Ordinary A | £0.10 | 1 | 1 |
|
Ordinary B | £0.10 | 1 | 1 |
2 | 2 |
|
All shares rank pari passu in all respects. |
|
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 29 June 2020 and 29 June 2019: |
|
29.6.20 | 29.6.19 |
£ | £ |
Director |
Balance outstanding at start of year | (160,220 | ) | (185,515 | ) |
Amounts advanced | - | 363,295 |
Amounts repaid | (2,202 | ) | (338,000 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | (162,422 | ) | (160,220 | ) |
ADDLESTONE ELECTRICAL WHOLESALERS |
LIMITED (REGISTERED NUMBER: 07317480) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2020 |
|
|
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
|
Director |
Balance outstanding at start of year | (157,088 | ) | (185,515 | ) |
Amounts advanced | 501,563 | 178,427 |
Amounts repaid | (513,465 | ) | (150,000 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | (168,990 | ) | (157,088 | ) |
|
The loans are interest free and are repayable after one year. |