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REGISTERED NUMBER: 02032776 (United Kingdom)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

THE ELECTRODE COMPANY LIMITED

THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,263 5,852
5,263 5,852

CURRENT ASSETS
Stocks 6 5,100 5,100
Debtors 7 13,350 13,670
18,450 18,770
CREDITORS
Amounts falling due within one year 8 478,736 479,170
NET CURRENT LIABILITIES (460,286 ) (460,400 )
TOTAL ASSETS LESS CURRENT LIABILITIES (455,023 ) (454,548 )

CREDITORS
Amounts falling due after more than one
year

9

299,352

301,752
NET LIABILITIES (754,375 ) (756,300 )

CAPITAL AND RESERVES
Called up share capital 11 561,360 561,360
Revaluation reserve 648,750 648,750
Retained earnings (1,964,485 ) (1,966,410 )
SHAREHOLDERS' FUNDS (754,375 ) (756,300 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Balance Sheet - continued
30 June 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





Dr G R Mathews - Director


THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

The Electrode Company Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 02032776

Registered office: Advantage Accountancy & Advisory Ltd
5-7 Cathedral Road
Avalon House
Cardiff
CF11 9HA

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.

The company incurred a net profit of £1,925 (2023: £1,528) for the financial year ended 30 June 2024, and as at that date, the company had a profit and loss reserve deficit of £1,964,485 (2023: £1,966,410).

As at the 30 June 2024, the company owed the directors £477,978 (2023: £477,878). This debt will not be recalled unless the repayments are within the financial constraints of The Electrode Company Limited.

The directors believe that it is appropriate to prepare the financial statements on a going concern basis as the directors have committed to support the company for the next 12 months from the date the financial statements were signed.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance

THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 271,203 1,266,007 1,537,210
AMORTISATION
At 1 July 2023
and 30 June 2024 271,203 1,266,007 1,537,210
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2023
and 30 June 2024 65,229
DEPRECIATION
At 1 July 2023 59,377
Charge for year 589
At 30 June 2024 59,966
NET BOOK VALUE
At 30 June 2024 5,263
At 30 June 2023 5,852

6. STOCKS
2024 2023
£    £   
Stocks 5,100 5,100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,608 1,928
Other debtors 11,742 11,742
13,350 13,670

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20242023
£ £

Accruals and deferred income7561,290
Other creditors477,980477,880
478,736479,170

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 299,352 301,752

THE ELECTRODE COMPANY LIMITED (REGISTERED NUMBER: 02032776)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 299,352 301,752

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
561,360 Ordinary £1 561,360 561,360