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REGISTERED NUMBER: 07464253 (England and Wales)



















ETERNAL COMMUNICATIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022






ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022




Page

Balance Sheet 1

Notes to the Financial Statements 2


ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,070 24,864
Investments 5 80,000 80,000
163,070 104,864

CURRENT ASSETS
Stocks 37,500 75,000
Debtors 6 152,544 161,345
Cash at bank 176,284 157,568
366,328 393,913
CREDITORS
Amounts falling due within one year 7 245,822 244,058
NET CURRENT ASSETS 120,506 149,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,576

254,719

CREDITORS
Amounts falling due after more than one year 8 (7,489 ) (9,117 )

PROVISIONS FOR LIABILITIES (18,653 ) (2,765 )
NET ASSETS 257,434 242,837

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 257,430 242,833
SHAREHOLDERS' FUNDS 257,434 242,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:



Mr S L Clark - Director


ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1. STATUTORY INFORMATION

Eternal Communications 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: 07464253

Registered office: Arqiva Transmission Station
Great North Road
Brookmans Park
Hatfield
Hertfordshire
AL9 6NE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from retail sales of electrical products and is recognised when the goods are delivered to the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

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

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

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 6 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2021 13,278 13,329 6,142 32,749
Additions 978 64,200 3,031 68,209
Disposals - - (475 ) (475 )
At 30 November 2022 14,256 77,529 8,698 100,483
DEPRECIATION
At 1 December 2021 4,155 1,388 2,342 7,885
Charge for year 2,504 5,660 1,561 9,725
Eliminated on disposal - - (197 ) (197 )
At 30 November 2022 6,659 7,048 3,706 17,413
NET BOOK VALUE
At 30 November 2022 7,597 70,481 4,992 83,070
At 30 November 2021 9,123 11,941 3,800 24,864

ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2021
and 30 November 2022 13,329
DEPRECIATION
At 1 December 2021
and 30 November 2022 1,388
NET BOOK VALUE
At 30 November 2022 11,941
At 30 November 2021 11,941

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2022 2021
£    £   
Other investments 80,000 80,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 33,434 29,000
Other debtors 119,110 132,345
152,544 161,345

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 1,502 1,502
Trade creditors 60,768 105,444
Taxation and social security 155,516 117,860
Other creditors 28,036 19,252
245,822 244,058

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 7,489 9,117

ETERNAL COMMUNICATIONS LTD (REGISTERED NUMBER: 07464253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021:

2022 2021
£    £   
Mr S L Clark
Balance outstanding at start of year 104,373 111,948
Amounts advanced 135,206 200,750
Amounts repaid (148,329 ) (208,325 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 91,250 104,373

During the year, interest has been charged on the loan at the HMRC official rate of interest totalling £2,239 (2021 - £2,753).

10. RELATED PARTY DISCLOSURES

During the year, dividends of £76,000 (2021 - £80,850) were paid to the directors.