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2023-06-30 08601421 dpl-frs:Item12 2022-07-01 2023-06-30 08601421 dpl-frs:Item12 2022-06-30 08601421 dpl-frs:Item12 2023-06-30 08601421 dpl-frs:CostSales dpl-frs:Item12 2022-07-01 2023-06-30 08601421 dpl-frs:CostSales dpl-frs:Item12 2022-06-30 08601421 dpl-frs:CostSales dpl-frs:Item12 2023-06-30 08601421 dpl-frs:DistributionCosts dpl-frs:Item12 2022-07-01 2023-06-30 08601421 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2022-07-01 2023-06-30 08601421 1 2022-07-01 2023-06-30 08601421 frs-countries:EnglandWales 2022-07-01 2023-06-30
Registered number: 08601421
E3Adventures Ltd
Unaudited Financial Statements
For the Period 1 July 2023 to 31 December 2023
Elzey Accountancy and Tax
ACCA
First Floor 2 Central Parade
101 Victoria Road
Horley
Surrey
RH6 7PH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08601421
31 December 2023 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,851 11,921
24,851 11,921
CURRENT ASSETS
Debtors 5 19,436 64,871
Cash at bank and in hand 65,280 48,878
84,716 113,749
Creditors: Amounts Falling Due Within One Year 6 (34,862 ) (28,333 )
NET CURRENT ASSETS (LIABILITIES) 49,854 85,416
TOTAL ASSETS LESS CURRENT LIABILITIES 74,705 97,337
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,721 ) (2,265 )
NET ASSETS 69,984 95,072
CAPITAL AND RESERVES
Called up share capital 7 3 3
Profit and Loss Account 69,981 95,069
SHAREHOLDERS' FUNDS 69,984 95,072
Page 1
Page 2
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Bryn Beach
Director
13/02/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
E3Adventures Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08601421 . The registered office is First Floor 2 Central Parade, 101 Victoria Road, Horley, Surrey, RH6 7PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 41,500
Additions 17,575
As at 31 December 2023 59,075
Depreciation
As at 1 July 2023 29,579
Provided during the period 4,645
As at 31 December 2023 34,224
Net Book Value
As at 31 December 2023 24,851
As at 1 July 2023 11,921
5. Debtors
31 December 2023 30 June 2023
£ £
Due within one year
Trade debtors 18,178 51,309
Prepayments and accrued income 1,258 2,517
Other taxes and social security - 45
Director's loan account - 11,000
19,436 64,871
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 June 2023
£ £
Trade creditors 6,210 7,336
Corporation tax - 965
Other taxes and social security 20 -
VAT 6,079 17,929
Net wages 1,530 1,530
Other creditors 23 23
Accruals and deferred income 1,000 550
Amounts owed to group undertakings 20,000 -
34,862 28,333
Page 4
Page 5
7. Share Capital
31 December 2023 30 June 2023
£ £
Allotted, Called up and fully paid 3 3
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 5