BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts Public relations and communications activities 16 September 2024 6 3 11645227 2023-12-31 11645227 2022-12-31 11645227 2021-12-31 11645227 2023-01-01 2023-12-31 11645227 2022-01-01 2022-12-31 11645227 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11645227 uk-curr:PoundSterling 2023-01-01 2023-12-31 11645227 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 11645227 uk-core:ShareCapital 2023-12-31 11645227 uk-core:ShareCapital 2022-12-31 11645227 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 11645227 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 11645227 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 11645227 uk-bus:FRS102 2023-01-01 2023-12-31 11645227 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 11645227 uk-core:ParentEntities 2023-01-01 2023-12-31 11645227 2023-01-01 2023-12-31 11645227 uk-bus:Director1 2023-01-01 2023-12-31 11645227 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 11645227
 
 
Electica Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Electica Ltd
Company Registration Number: 11645227
ABRIDGED BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
as restated
 
Fixed Assets
Tangible assets 5 - 696
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Current Assets
Receivables 759,172 433,006
Cash and cash equivalents 873,227 91,913
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1,632,399 524,919
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Payables: amounts falling due within one year (1,564,084) (387,629)
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Net Current Assets 68,315 137,290
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Total Assets less Current Liabilities 68,315 137,986
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Capital and Reserves
Called up share capital 2 2
Retained earnings 68,313 137,984
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Shareholders' Funds 68,315 137,986
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The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 16 September 2024
           
           
________________________________          
Mr. Valerio Riavez          
Director          
           



Electica Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Electica Ltd is a company limited by shares incorporated and registered in the England. The registered number of the company is 11645227. The registered office of the company is. Public relations and communications activities The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 15% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Prior period adjustment
The prior period adjustment relates to dividends declared during the year ended 31 December 2022.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2023 2022
  Number Number
 
Employee 6 3
  ═════════ ═════════
   
4. Prior Year Adjustment
 
Dividends of £127,525 declared during the year ended 31 December 2022 were not recorded in the financial statements and have been adjusted through a prior year adjustment.
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 January 2023 833 833
Disposals (833) (833)
  ───────── ─────────
At 31 December 2023 - -
  ───────── ─────────
Depreciation
At 1 January 2023 137 137
On disposals (137) (137)
  ───────── ─────────
At 31 December 2023 - -
  ───────── ─────────
Net book value
At 31 December 2023 - -
  ═════════ ═════════
At 31 December 2022 696 696
  ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
7. Parent company
 
The company became a subsidiary of New Comms Holdings Ltd on 14th December 2023.
 
   
8. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.