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REGISTERED NUMBER: 11136503 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

ELECTRIC FOUNDRY LTD

ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELECTRIC FOUNDRY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr G D F Dives
Mr D J Large



REGISTERED OFFICE: Ingram House
6 Meridian Way
Norwich
Norfolk
NR7 0TA



REGISTERED NUMBER: 11136503 (England and Wales)



ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA



BANKERS: HSBC Bank plc
Lion House
25 Islington High St
Islington
N1 9LJ

ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,708 58,272

CURRENT ASSETS
Debtors 5 41,308 18,641
Cash at bank 275,531 119,248
316,839 137,889
CREDITORS
Amounts falling due within one year 6 84,329 33,549
NET CURRENT ASSETS 232,510 104,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

339,218

162,612

PROVISIONS FOR LIABILITIES 19,560 9,572
NET ASSETS 319,658 153,040

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 319,358 152,740
SHAREHOLDERS' FUNDS 319,658 153,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





Mr D J Large - Director


ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Electric Foundry 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.

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 & Machinery - 20% straight line basis
Leasehold improvements - 33% straight line basis
Computer Equipments - 33% straight line basis
Fixtures & Fittings - 25% straight line basis

Government grants
Government grants are recognised when there is reasonable assurance that the grant conditions will be met and the grant will be received. These grants are recognised in the income statement on a systematic basis over the periods in which the related costs towards which they are intended to compensate are recognised as expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 the profit and loss account as incurred.

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 5 (2022 - 3 ) .

ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 15,568 54,796 70,364
Additions 9,043 69,510 78,553
At 31 January 2023 24,611 124,306 148,917
DEPRECIATION
At 1 February 2022 856 11,236 12,092
Charge for year 7,514 22,603 30,117
At 31 January 2023 8,370 33,839 42,209
NET BOOK VALUE
At 31 January 2023 16,241 90,467 106,708
At 31 January 2022 14,712 43,560 58,272

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,455 5,492
Other debtors 9,853 13,149
41,308 18,641

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 10,150
Taxation and social security 60,320 20,853
Other creditors 24,009 2,546
84,329 33,549

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A Shares £1 100 100
100 Ordinary B Shares £1 100 100
100 Ordinary C Shares £1 100 100
300 300

8. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £8,000.