1 January 2024 v2025.83.1 limited_company_frs_102_section_1a_v1_1_2 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP 10830248 2024-01-01 2024-12-31 10830248 2024-12-31 10830248 2023-12-31 10830248 core:WithinOneYear 2024-12-31 10830248 core:WithinOneYear 2023-12-31 10830248 core:AfterOneYear 2024-12-31 10830248 core:AfterOneYear 2023-12-31 10830248 core:SharePremium 2024-12-31 10830248 core:SharePremium 2023-12-31 10830248 core:RetainedEarningsAccumulatedLosses 2024-12-31 10830248 core:RetainedEarningsAccumulatedLosses 2023-12-31 10830248 bus:Director1 2024-01-01 2024-12-31 10830248 bus:RegisteredOffice 2024-01-01 2024-12-31 10830248 2022-07-01 2023-12-31 10830248 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 10830248 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 10830248 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 10830248 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 10830248 core:PlantMachinery 2024-01-01 10830248 core:PlantMachinery 2024-01-01 2024-12-31 10830248 core:PlantMachinery 2023-12-31 10830248 1 2024-01-01 2024-12-31 10830248 countries:EnglandWales 2024-01-01 2024-12-31 10830248 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10830248 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10830248 bus:SmallEntities 2024-01-01 2024-12-31 10830248 bus:FullAccounts 2024-01-01 2024-12-31
Company registration number:
10830248
Urban Electric Networks Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Urban Electric Networks Ltd
Statement of Financial Position
31 December 2024

|  | 2024 | 2023
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Intangible assets | 5 | 302,601 |  | 267,867 |
Tangible assets | 6 | - |  | 480 |
|  | 302,601 |  | 268,347 |
Current assets |  |  |  |  |
Debtors | 7 | 90,287 |  | 199,757 |
Cash at bank and in hand |  | 267,385 |  | 146,362 |
|  | 357,672 |  | 346,119 |
Creditors: amounts falling due within one year | 8 | (88,005 | ) | (246,996 | )
Net current assets |  | 269,667 |  | 99,123 |
Total assets less current liabilities |  | 572,268 |  | 367,470 |
Creditors: amounts falling due after more than one year | 9 | (1,048,000 | ) | (1,048,000 | )
Provisions for liabilities |  | 336,999 |  | (91 | )
Net liabilities |  | (138,733 | ) | (680,621 | )
Capital and reserves |  |  |  |  |
Share premium |  | 2,094,863 |  | 2,094,863 |
Profit and loss account |  | (2,233,596 | ) | (2,775,484 | )
Shareholders deficit |  | (138,733 | ) | (680,621 | )

For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
6 January 2026
, and are signed on behalf of the board by:

O Freeling-Wilkinson
Director

Company registration number:
10830248
Urban Electric Networks Ltd
Notes to the Financial Statements
Year ended
31 December 2024

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1c Amberside House Wood Lane
,
Paradise Industrial Estate
,
Hemel Hempstead
,
HP2 4TP
, England.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Turnover

Turnover is measured at the fair value of the consideration received, net of discounts and Value Added Tax. The amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

## Intangible assets

The Company holds patents related to electric vehicle (EV) charging technology. Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation. Due to the rapidly evolving nature of EV technology, the Company amortises the cost under a reducing balance method.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
The Company has recognsied £75,046 of income in respect of R&D tax credits under the Research and Development Expenditure Credit (RDEC) scheme. This has been presented within other operating income in the Profit and Loss statement. This credit is subject to corporation tax.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

## 4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
2.00
).

## 5 Intangible assets

| Other intangible assets
--- | ---
| £
Cost |  |
At 1 January 2024 | 328,820 |
Additions | 66,137 |
At 31 December 2024 | 394,957 |
Amortisation |  |
At 1 January 2024 | 60,953 |
Charge | 31,403 |
At 31 December 2024 | 92,356 |
Carrying amount |  |
At 31 December 2024 | 302,601 |
At 31 December 2023 | 267,867 |

## 6 Tangible assets

| Plant and machinery etc.
--- | ---
| £
Cost |  |
At 1 January 2024 | 4,671 |
Disposals | (4,671 | )
At 31 December 2024 | - |
Depreciation |  |
At 1 January 2024 | 4,191 |
Charge | 480 |
Disposals | (4,671 | )
At 31 December 2024 | - |
Carrying amount |  |
At 31 December 2024 | - |
At 31 December 2023 | 480 |

## 7 Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Trade debtors | 85,743 |  | 195,772 |
Other debtors | 4,544 |  | 3,985 |
| 90,287 |  | 199,757 |

## 8 Creditors: amounts falling due within one year

| 2024 | 2023
--- | --- | ---
| £ | £
Trade creditors | 24,984 |  | 65,316 |
Taxation and social security | 29,654 |  | 66,451 |
Other creditors | 33,367 |  | 115,229 |
| 88,005 |  | 246,996 |

## 9 Creditors: amounts falling due after more than one year

| 2024 | 2023
--- | --- | ---
| £ | £
Other creditors | 1,048,000 |  | 1,048,000 |