Earth Innovation Limited 11881235 false 2023-04-01 2023-12-31 2023-12-31 The principal activity of the company is undertaking commercial activities such as rental collection, and environmental education whilst continuing to develop the gateway project. Digita Accounts Production Advanced 6.30.9574.0 true true true 11881235 2023-04-01 2023-12-31 11881235 2023-12-31 11881235 bus:OrdinaryShareClass1 2023-12-31 11881235 core:CurrentFinancialInstruments 2023-12-31 11881235 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11881235 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11881235 core:FurnitureFittingsToolsEquipment 2023-12-31 11881235 core:LandBuildings 2023-12-31 11881235 bus:SmallEntities 2023-04-01 2023-12-31 11881235 bus:Audited 2023-04-01 2023-12-31 11881235 bus:FilletedAccounts 2023-04-01 2023-12-31 11881235 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 11881235 bus:RegisteredOffice 2023-04-01 2023-12-31 11881235 bus:Director7 2023-04-01 2023-12-31 11881235 bus:OrdinaryShareClass1 2023-04-01 2023-12-31 11881235 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 11881235 core:FurnitureFittings 2023-04-01 2023-12-31 11881235 core:FurnitureFittingsToolsEquipment 2023-04-01 2023-12-31 11881235 core:LandBuildings 2023-04-01 2023-12-31 11881235 1 2023-04-01 2023-12-31 11881235 1 2023-04-01 2023-12-31 11881235 countries:EnglandWales 2023-04-01 2023-12-31 11881235 2023-03-31 11881235 core:FurnitureFittingsToolsEquipment 2023-03-31 11881235 core:LandBuildings 2023-03-31 11881235 2022-04-01 2023-03-31 11881235 2023-03-31 11881235 bus:OrdinaryShareClass1 2023-03-31 11881235 core:CurrentFinancialInstruments 2023-03-31 11881235 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11881235 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11881235 core:FurnitureFittingsToolsEquipment 2023-03-31 11881235 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11881235

Earth Innovation Limited

Filleted Financial Statements

for the Period from 1 April 2023 to 31 December 2023

 

Earth Innovation Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Earth Innovation Limited

(Registration number: 11881235)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 March
2023
£

Fixed assets

 

Tangible assets

4

2,159,787

2,245,577

Current assets

 

Debtors

5

23,111

62,949

Cash at bank and in hand

 

6,054

35,499

 

29,165

98,448

Creditors: Amounts falling due within one year

6

(6,651)

(19,647)

Net current assets

 

22,514

78,801

Total assets less current liabilities

 

2,182,301

2,324,378

Creditors: Amounts falling due after more than one year

6

(2,421,093)

(2,490,978)

Net liabilities

 

(238,792)

(166,600)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(238,793)

(166,601)

Shareholders' deficit

 

(238,792)

(166,600)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 July 2024 and signed on its behalf by:
 

.........................................
E A Buckle
Director

 

Earth Innovation Limited

Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Earth Trust
Little Wittenham
Abingdon
OX14 4QZ

These financial statements were authorised for issue by the Board on 11 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value. The financial statements are prepared in pounds sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling.

Disclosure of long or short period

The accounting period has been shortened to align with the budgeting and funding requirements of the group. The comparative information is therefore not entirely comparable as the current period is only nine months, rather than twelve.

Going concern

The financial statements have been prepared on a going concern basis.

The company is supported by its parent charity. The charity's Trustees have pledged ongoing support for a period not less than 24 months. As such, the directors are satisfied that there are no material uncertainties in respect of going concern.

 

Earth Innovation Limited

Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 11 July 2024 was Benjamin Hayes BSc FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Fixtures, fittings, and equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Earth Innovation Limited

Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,030,516

453,031

2,483,547

Additions

10,787

-

10,787

At 31 December 2023

2,041,303

453,031

2,494,334

Depreciation

At 1 April 2023

69,972

167,998

237,970

Charge for the period

28,518

68,059

96,577

At 31 December 2023

98,490

236,057

334,547

Carrying amount

At 31 December 2023

1,942,813

216,974

2,159,787

At 31 March 2023

1,960,544

285,033

2,245,577

Included within the net book value of land and buildings above is £1,942,813 (2023 - £1,960,544) in respect of freehold land and buildings.
 

 

Earth Innovation Limited

Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023

5

Debtors

31 December
2023
£

31 March
2023
£

Trade debtors

23,069

59,910

Prepayments

42

3,039

23,111

62,949

 

Earth Innovation Limited

Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

31 December
2023
£

31 March
2023
£

Due within one year

Trade creditors

1,908

11,320

Taxation and social security

793

637

Accruals and deferred income

3,650

7,690

Other creditors

300

-

6,651

19,647

Creditors: amounts falling due after more than one year

31 December
2023
£

31 March
2023
£

Due after one year

Other non-current financial liabilities

2,421,093

2,490,978


Creditors due after more than one year relates to the amount due to the parent entity.

7

Share capital

Allotted, called up and fully paid shares

31 December
2023

31 March
2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Parent and ultimate parent undertaking

The company's immediate parent is Earth Trust, incorporated in England and Wales.

  These financial statements are available upon request from Earth Trust, Little Wittenham, Oxfordshire, OX14 4QZ