Company Registration No. 11765867 (England and Wales)
ELECTRONETWORKS LTD
Unaudited accounts
for the year ended 31 January 2023
ELECTRONETWORKS LTD
Unaudited accounts
Contents
ELECTRONETWORKS LTD
Company Information
for the year ended 31 January 2023
Company Number
11765867 (England and Wales)
Registered Office
52 TALBOT ROAD
SOUTH SHIELDS
NE34 0QJ
UNITED KINGDOM
Accountants
Scott Accountancy Services
119 Lanchester Avenue
Gateshead
Tyne & Wear
NE9 7AN
ELECTRONETWORKS LTD
Statement of financial position
as at 31 January 2023
Tangible assets
13,410
13,085
Cash at bank and in hand
54,942
41,882
Creditors: amounts falling due within one year
(12,877)
(6,005)
Net current assets
54,708
44,413
Total assets less current liabilities
68,118
57,498
Creditors: amounts falling due after more than one year
(8,500)
-
Called up share capital
1
1
Profit and loss account
59,617
57,497
Shareholders' funds
59,618
57,498
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2023 and were signed on its behalf by
David Clare
Director
Company Registration No. 11765867
ELECTRONETWORKS LTD
Notes to the Accounts
for the year ended 31 January 2023
ELECTRONETWORKS LTD is a private company, limited by shares, registered in England and Wales, registration number 11765867. The registered office is 52 TALBOT ROAD, SOUTH SHIELDS, NE34 0QJ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33.33% Straight Line
Covid 19 and Going Concern
The director draws attention to the fact that Covid 19 and its run on had an impact on the business. Whilst these did have a minimal effect on turnover overall , year on year the business exceeded expectations.
The business took advantage of finance opportunities and accessed government backed lending to allow for some investment in IT equipment and Machinery during the period. The balance remaining was retained as working capital to fund accessing longer term contracts requiring time and expenses investment to attain.
ELECTRONETWORKS LTD
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2022
17,583
1,500
3,000
22,083
Additions
589
-
2,290
2,879
At 31 January 2023
18,172
1,500
5,290
24,962
At 1 February 2022
5,420
578
3,000
8,998
Charge for the year
1,653
138
763
2,554
At 31 January 2023
7,073
716
3,763
11,552
At 31 January 2023
11,099
784
1,527
13,410
At 31 January 2022
12,163
922
-
13,085
Amounts falling due within one year
Accrued income and prepayments
9,166
4,150
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,120
-
Taxes and social security
9,757
6,005
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).