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REGISTERED NUMBER: 03749605 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

INTERNATIONAL ELECTRIC COMPANY LIMITED

INTERNATIONAL ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03749605)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTERNATIONAL ELECTRIC COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Directors: S J Cash
I J Cash
C J Hendy





Registered office: 10 Stadium Business Court
Millennium Way
Pride Park
Derby
Derbyshire
DE24 8HP





Registered number: 03749605 (England and Wales)





Accountants: TC Group
10 Stadium Business Court
Millennium Way
Pride Park
Derby
Derbyshire
DE24 8HP

INTERNATIONAL ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03749605)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 294,870 169,600
Tangible assets 5 4,066 4,517
Investments 6 1,201 1,201
300,137 175,318

Current assets
Debtors 7 328,306 324,107
Cash at bank 50,001 14,377
378,307 338,484
Creditors
Amounts falling due within one year 8 (824,816 ) (760,169 )
Net current liabilities (446,509 ) (421,685 )
Total assets less current liabilities (146,372 ) (246,367 )

Capital and reserves
Called up share capital 9 1,000 800
Share premium 199,760 99,960
Retained earnings (347,132 ) (347,127 )
Shareholders' funds (146,372 ) (246,367 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 11 June 2025 and were signed on its behalf by:





S J Cash - Director


INTERNATIONAL ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03749605)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

International Electric Company 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Patents
Patent costs are recognised as intangible assets when each project is in the developmental phase. Costs incurred during the research phase of each project are expensed to the profit and loss account in line with FRS 102.

Patents and licences are being amortised evenly over their estimated useful life of 20 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 - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised 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.

3. EMPLOYEES AND DIRECTORS

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

INTERNATIONAL ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03749605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Patents and
licences
£
Cost
At 1 October 2023 169,600
Additions 125,270
At 30 September 2024 294,870
Net book value
At 30 September 2024 294,870
At 30 September 2023 169,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£
Cost
At 1 October 2023 5,646
Additions 702
At 30 September 2024 6,348
Depreciation
At 1 October 2023 1,129
Charge for year 1,153
At 30 September 2024 2,282
Net book value
At 30 September 2024 4,066
At 30 September 2023 4,517

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
Cost
At 1 October 2023
and 30 September 2024 1,201
Net book value
At 30 September 2024 1,201
At 30 September 2023 1,201

Existing wholly owned subsidiaries were as follows:


IECharge Ltd UK company with issued share capital of 100 ordinary £1 shares

International Electric Company Inc
US company with authorised share capital of 1,500 shares of no
par value

CASSIOPeiA Solar Ltd
UK company with issued share capital of 1,001 ordinary £1 shares,
controlling interest

Phased Arrays Ltd
UK company with issued share capital of 100 ordinary £1 shares,
wholly owned

All subsidiaries are currently dormant apart from CASSIOPeiA Solar Ltd, which is trading.

INTERNATIONAL ELECTRIC COMPANY LIMITED (REGISTERED NUMBER: 03749605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 11,363
Amounts owed by group undertakings 283,260 269,375
Other debtors 33,751 -
Tax - 41,087
VAT 11,214 2,179
Prepayments and accrued income 81 103
328,306 324,107

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 11,893 19,398
Other creditors 2,152 -
Accruals and deferred income 2,500 2,500
Directors' current accounts 808,271 738,271
824,816 760,169

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 800

200 Ordinary shares of £1 each were allotted as fully paid at a premium of £499 per share during the year.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following capital introduced by a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£ £
C J Hendy
Balance outstanding at start of year (738,271 ) (583,271 )
Amounts repaid (70,000 ) (155,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (808,271 ) (738,271 )

11. RELATED PARTY DISCLOSURES

Amounts were paid in the year to SICA Design Ltd, a company owned and managed by I and S Cash, as follows:

20242023
£   £   

Consultancy services106,15387,500


The following balances were payable to SICA Design Ltd at the year end:

20242023
£   £   

Trade creditors11,5566.,720