Registered number
07086453
Earthbound Services Southeast Limited
Unaudited Filleted Accounts
30 November 2023
Earthbound Services Southeast Limited
Registered number: 07086453
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,785 20,134
Current assets
Stocks 5,100 5,100
Debtors 4 91,071 98,471
Cash at bank and in hand - 1,661
96,171 105,232
Creditors: amounts falling due within one year 5 (94,624) (73,118)
Net current assets 1,547 32,114
Total assets less current liabilities 15,332 52,248
Creditors: amounts falling due after more than one year 6 (15,000) (25,000)
Net assets 332 27,248
Capital and reserves
Called up share capital 4 4
Profit and loss account 328 27,244
Shareholder's funds 332 27,248
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
RK Barker
Director
Approved by the board on 31 July 2024
Earthbound Services Southeast Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 10 years straight line
Motor Vehicle 3 years straight line
Plant and machinery 3 years straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 22,970 19,318 10,000 52,288
At 30 November 2023 22,970 19,318 10,000 52,288
Depreciation
At 1 December 2022 6,888 15,266 10,000 32,154
Charge for the year 2,297 4,052 - 6,349
At 30 November 2023 9,185 19,318 10,000 38,503
Net book value
At 30 November 2023 13,785 - - 13,785
At 30 November 2022 16,082 4,052 - 20,134
4 Debtors 2023 2022
£ £
Trade debtors 8,426 64,575
Other debtors 82,645 33,896
91,071 98,471
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,257 10,000
Trade creditors 51,382 33,624
Corporation tax 14,048 19,005
Other taxes and social security costs - 7,703
Other creditors 6,937 2,786
94,624 73,118
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,000 25,000
7 Controlling party
Mr Kevin Barker, the director, is the controlling party by virtue of holding 100% of the share capital.
8 Other information
Earthbound Services Southeast Limited is a private company limited by shares and incorporated in England. Its registered office is:
Quarry Hall Farm
Springbottom Lane
Redhill
RH1 4QZ
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