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REGISTERED NUMBER: 11136503 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ELECTRIC FOUNDRY LTD

ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125,909 106,708

CURRENT ASSETS
Debtors 5 18,305 41,308
Cash at bank 341,621 275,531
359,926 316,839
CREDITORS
Amounts falling due within one year 6 90,010 84,329
NET CURRENT ASSETS 269,916 232,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,825

339,218

PROVISIONS FOR LIABILITIES 29,468 19,560
NET ASSETS 366,357 319,658

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 366,057 319,358
SHAREHOLDERS' FUNDS 366,357 319,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 23 September 2024 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 2024

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 are as below:

Registered number: 11136503

Registered office: Ingram House
6 Meridian Way
Norwich
Norfolk
NR7 0TA

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

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

The average number of employees during the year was 3 (2023 - 5 ) .

ELECTRIC FOUNDRY LTD (REGISTERED NUMBER: 11136503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 24,611 124,306 148,917
Additions - 67,315 67,315
At 31 January 2024 24,611 191,621 216,232
DEPRECIATION
At 1 February 2023 8,370 33,839 42,209
Charge for year 8,204 39,910 48,114
At 31 January 2024 16,574 73,749 90,323
NET BOOK VALUE
At 31 January 2024 8,037 117,872 125,909
At 31 January 2023 16,241 90,467 106,708

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,805 31,455
Other debtors 1,500 9,853
18,305 41,308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 541 -
Taxation and social security 56,653 60,320
Other creditors 32,816 24,009
90,010 84,329

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
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 £29,440.