Electrical Distribution Solutions Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06120493 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

Electrical Distribution Solutions Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Bradley

A Porteous

SECRETARY:

A Porteous

REGISTERED OFFICE:

Unit B5 Hilton Trading Estate

Hilton Road

Wolverhampton

WV4 6DW

REGISTERED NUMBER:

06120493 (England and Wales)

ACCOUNTANTS:

Davies Archytas Accountants Ltd

14, The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

FIXED ASSETS

Tangible assets

4

248,849

206,896

CURRENT ASSETS

Stocks

82,522

80,000

Debtors

710,437

669,449

Cash at bank

108,504

96,134

901,463

845,583

CREDITORS

Amounts falling due within one year

400,239

447,895

NET CURRENT ASSETS

501,224

397,688

TOTAL ASSETS LESS CURRENT LIABILITIES

750,073

604,584

CREDITORS

Amounts falling due after more than one year

(253,471

)

(263,002

)

PROVISIONS FOR LIABILITIES

(37,097

)

(26,341

)

NET ASSETS

459,505

315,241

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

459,503

315,239

SHAREHOLDERS' FUNDS

459,505

315,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 January 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2022 and were signed on its behalf by:

A Porteous - Director

1.	STATUTORY INFORMATION

Electrical Distribution Solutions 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2021

410,156

Additions

117,996

At 31 January 2022

528,152

DEPRECIATION

At 1 February 2021

203,260

Charge for year

76,043

At 31 January 2022

279,303

NET BOOK VALUE

At 31 January 2022

248,849

At 31 January 2021

206,896

5.

LOANS

An analysis of the maturity of loans is given below:

31.1.22

31.1.21

£

£

Amounts falling due within one year or on demand:

Other loans

29,987

29,987

Amounts falling due between one and two years:

Other loans - 1-2 years

175,663

206,067

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.22

31.1.21

value:

£

£

2

Ordinary

£1

2

2

7.	ULTIMATE CONTROLLING PARTY

The controlling parties during the year under review were the directors by virtue of their 100% holding of the issued share capital.