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Company Registration No. 11765867 (England and Wales)
ELECTRONETWORKS LTD Unaudited accounts for the year ended 31 January 2023
ELECTRONETWORKS LTD Unaudited accounts Contents
Page
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ELECTRONETWORKS LTD Company Information for the year ended 31 January 2023
Director
David Clare
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
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ELECTRONETWORKS LTD Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,410 
13,085 
Current assets
Debtors
12,643 
8,536 
Cash at bank and in hand
54,942 
41,882 
67,585 
50,418 
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)
- 
Net assets
59,618 
57,498 
Capital and reserves
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
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ELECTRONETWORKS LTD Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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.
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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 
Depreciation
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 
Net book value
At 31 January 2023
11,099 
784 
1,527 
13,410 
At 31 January 2022
12,163 
922 
- 
13,085 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
504 
- 
Trade debtors
2,973 
4,386 
Accrued income and prepayments
9,166 
4,150 
12,643 
8,536 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,120 
- 
Taxes and social security
9,757 
6,005 
12,877 
6,005 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
8,500 
- 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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