The Electronics Warehouse Ltd - Accounts to registrar (filleted) - small 18.2
The Electronics Warehouse Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2018 |
| for |
| The Electronics Warehouse Ltd |
| The Electronics Warehouse Ltd (Registered number: 07933123) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| The Electronics Warehouse Ltd |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Redland House |
| 157 Redland Road |
| Redland |
| Bristol |
| BS6 6YE |
| The Electronics Warehouse Ltd (Registered number: 07933123) |
| Balance Sheet |
| 31 December 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| 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. |
| 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 on |
| The Electronics Warehouse Ltd (Registered number: 07933123) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| The Electronics Warehouse Ltd is a |
| 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 |
| The financial statements have been prepared on a going concern basis as the Directors believe that the |
| Company has sufficient support from existing shareholders to enable it to trade and be profitable for a period of at |
| least 12 months from the date that the unaudited financial statements are signed. |
| 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 |
| Plant and machinery | - |
| Motor vehicles | - |
| 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 |
| 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 |
| The Electronics Warehouse Ltd (Registered number: 07933123) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Include within Motor vehicles are assets of £Nil (2017: £58,016), which were acquired under a hire purchase |
| agreement or finance lease. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Loans - NRZ Properties | 37,000 | - |
| Deferred tax asset |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Loan - Matrix Office Supplies | 2,701 | 1,935 |
| Loan - Scott Davidson | - | 20,000 |
| Directors' loan accounts | 20,467 | 21,795 |
| Deferred income |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| The Electronics Warehouse Ltd (Registered number: 07933123) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| NIL | Ordinary | £1 | - | 200 |
| A Ordinary Shares | £1 | 304 | - |
| B Ordinary Shares | £1 | 96 | - |
| 400 | 200 |
| The following shares were allotted and fully paid for cash at par during the year: |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2018 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 December 2018 |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £100,000 were paid to the directors . |
| Mr Nasser Hakim is a controlling shareholder of Excess Stock Trading Ltd |
| The company made sales to the above company of £3,580 (2017: £65,751). Within Trade debtors the above |
| company had a balance of £Nil (2017: £Nil). |
| Mr Nasser Hakim is a controlling shareholder of Matrix Office Supplies Limited |
| During the period, the company paid £34,200 (2017: £34,200) in rent. The company also has a creditor due to the |
| above company of £2,701 (2017: £1,935). |
| During the year, the company made purchases of £899,652 (2017: £1,156,869) at normal commercial rates. |
| Mr Nasser Hakim is a controlling shareholder of NRZ Properties Limited |
| During the period, the company paid £6,000 (2017: £Nil) in rent. The company also has a debtor due from the |
| above company of £37,000 (2017: £Nil). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is N Hakim. |