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REGISTERED NUMBER: 08340810 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ELECTRA NETWORKS LIMITED

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

ELECTRA NETWORKS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr I C Brotherston
Mrs R Masih
Mr P L Sutton



REGISTERED OFFICE: 4 Bracknell Enterprise Centre
Easthampstead Road
Bracknell
Berkshire
RG12 1NF



REGISTERED NUMBER: 08340810 (England and Wales)



ACCOUNTANTS: Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



BANKERS: HSBC
29 High Street
Camberley
Surrey
GU15 3RE

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,733 123,229

CURRENT ASSETS
Stocks 35,720 31,250
Debtors 5 907,960 918,198
Cash at bank and in hand 789,741 1,013,245
1,733,421 1,962,693
CREDITORS
Amounts falling due within one year 6 474,902 622,990
NET CURRENT ASSETS 1,258,519 1,339,703
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,348,252

1,462,932

PROVISIONS FOR LIABILITIES 22,433 28,493
NET ASSETS 1,325,819 1,434,439

CAPITAL AND RESERVES
Called up share capital 4,911 4,911
Share premium 45,495 45,495
Capital redemption reserve 49 49
Retained earnings 1,275,364 1,383,984
SHAREHOLDERS' FUNDS 1,325,819 1,434,439

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 22 April 2024 and were signed on its behalf by:





Mr I C Brotherston - Director


ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Electra Networks Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Revenue represents the value of telecom services provided to the company's clients in the year and is measured at the fair value of the consideration received or receivable for these services.

Turnover is recognised upon completion and signing off of works by clients, at which time the significant risks and rewards associated with the provision of the services transfers to the client.

Profit is recognised on long term contracts when the final outcome can be assessed with reasonable certainty by including turnover and related costs within the profit and loss account dependant upon the stage of completion of the contract at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost, being purchase price together with any incidental costs of acquisition, less accumulated depreciation.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks
The company operates a just in time ordering system to purchase major stock items required to complete contracts. Due to the nature of telecommunications network migration the company also holds stocks of consumable parts that are used in all migrations.

As stock, including consumable parts, is not subject to physical obsolescence it is valued at cost.

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.

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary items in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asses is impaired.

Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors
Creditors are not interest bearing and are stated at their nominal value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 20,699 359,620 380,319
Additions - 16,495 16,495
At 31 December 2023 20,699 376,115 396,814
DEPRECIATION
At 1 January 2023 18,614 238,476 257,090
Charge for year 1,964 48,027 49,991
At 31 December 2023 20,578 286,503 307,081
NET BOOK VALUE
At 31 December 2023 121 89,612 89,733
At 31 December 2022 2,085 121,144 123,229

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 28,340
DEPRECIATION
At 1 January 2023 22,672
Charge for year 5,668
At 31 December 2023 28,340
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 5,668

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 843,681 662,300
Other debtors 64,279 255,898
907,960 918,198

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 7) - 2,725
Trade creditors 270,727 348,417
Taxation and social security 148,791 224,079
Other creditors 55,384 47,769
474,902 622,990

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year - 2,725

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 70,189 70,189
Between one and five years 243,491 258,680
In more than five years - 55,000
313,680 383,869

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ELECTRA NETWORKS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Electra Networks Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Electra Networks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Electra Networks Limited and state those matters that we have agreed to state to the Board of Directors of Electra Networks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Electra Networks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Electra Networks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Electra Networks Limited. You consider that Electra Networks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Electra Networks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN


29 April 2024