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REGISTERED NUMBER: 10160396 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

ETERNAL BUILD LIMITED

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ETERNAL BUILD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTOR: Mr Rory M Baptiste





SECRETARY: Ms Melissa J Baptiste





REGISTERED OFFICE: Old Station Yard
Hawkhurst Road
Cranbrook
Kent
TN17 2SR





REGISTERED NUMBER: 10160396 (England and Wales)





ACCOUNTANTS: Malcolm J. Greer FCCA, ATT
Chartered Certified Accountant
3 Jesse Terrace
Reading
Berkshire
RG1 7RS

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

STATEMENT OF FINANCIAL POSITION
31 MAY 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,257 42,323

CURRENT ASSETS
Debtors 5 273,762 153,920
Cash at bank and in hand 13,152 5,210
286,914 159,130
CREDITORS
Amounts falling due within one year 6 94,814 85,641
NET CURRENT ASSETS 192,100 73,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,357

115,812

CREDITORS
Amounts falling due after more than one
year

7

(34,047

)

(45,599

)

PROVISIONS FOR LIABILITIES 9 (6,699 ) (7,917 )
NET ASSETS 186,611 62,296

CAPITAL AND RESERVES
Called up share capital 10 600 600
Retained earnings 186,011 61,696
SHAREHOLDERS' FUNDS 186,611 62,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2022


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 director and authorised for issue on 22 August 2022 and were signed by:





Mr Rory M Baptiste - Director


ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1. STATUTORY INFORMATION

Eternal Build 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Office furniture - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 4 ) .

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

4. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery furniture vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2021 21,068 500 37,713 5,636 64,917
Additions 10,008 - - - 10,008
At 31 May 2022 31,076 500 37,713 5,636 74,925
DEPRECIATION
At 1 June 2021 4,133 499 14,777 3,185 22,594
Charge for year 6,716 - 9,403 955 17,074
At 31 May 2022 10,849 499 24,180 4,140 39,668
NET BOOK VALUE
At 31 May 2022 20,227 1 13,533 1,496 35,257
At 31 May 2021 16,935 1 22,936 2,451 42,323

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2021
and 31 May 2022 18,600
DEPRECIATION
At 1 June 2021 7,362
Charge for year 4,650
At 31 May 2022 12,012
NET BOOK VALUE
At 31 May 2022 6,588
At 31 May 2021 11,238

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade debtors 151,963 20,133
Amounts recoverable on contract 78,285 99,584
PAYE & CIS recoverable 40,268 4,266
Directors' current accounts - 15,595
VAT - 10,150
Prepayments and accrued income 3,246 4,192
273,762 153,920

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans and overdrafts 9,746 9,491
Hire purchase contracts (see note 8) 1,806 1,599
Trade creditors 14,037 12,213
Corporation tax 38,674 46,028
VAT 20,848 -
Other creditors 5,000 10,000
Net wages creditor 440 2,784
Pension creditor 301 228
Directors' current accounts 313 -
Accruals and deferred income 3,649 3,298
94,814 85,641

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.22 31.5.21
£    £   
Bank loans - 1-2 years 10,000 9,746
Bank loans - 2-5 years 20,763 30,763
Hire purchase contracts (see note 8) 3,284 5,090
34,047 45,599

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.22 31.5.21
£    £   
Net obligations repayable:
Within one year 1,806 1,599
Between one and five years 3,284 5,090
5,090 6,689

Non-cancellable operating leases
31.5.22 31.5.21
£    £   
Within one year 6,000 6,000
Between one and five years 17,000 23,000
23,000 29,000

9. PROVISIONS FOR LIABILITIES
31.5.22 31.5.21
£    £   
Deferred tax
Accelerated capital allowances 6,699 7,917

ETERNAL BUILD LIMITED (REGISTERED NUMBER: 10160396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2021 7,917
Credit to Statement of Income and Retained Earnings during year (1,218 )
Balance at 31 May 2022 6,699

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.22 31.5.21
value: £    £   
600 Ordinary shares classes A to F £1 600 600

The total authorised share capital of the Company has been sub divided into six separate classes of ordinary share labelled A to F inclusive.

The shares all have the same rights and restrictions and rank pari passu in all respects save that as regards income, share classes A to F inclusive shall be entitled to payments of varying amounts of dividends at the discretion of the Directors, as declared by the Company from time to time.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021:

31.5.22 31.5.21
£    £   
Mr Rory M Baptiste
Balance outstanding at start of year 15,595 -
Amounts advanced - 49,817
Amounts repaid (15,595 ) (34,222 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,595

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Rory M Baptiste.