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REGISTERED NUMBER: 11803869 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Exploration & Testing Associates Limited

Exploration & Testing Associates Limited (Registered number: 11803869)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exploration & Testing Associates Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S Harrison-Lamb
Ms N Hodson
Mrs L C Hughes
Miss A D Hughes





REGISTERED OFFICE: Unit 8b Bowburn South Industrial Estate
Bowburn
Durham
DH6 5AD





REGISTERED NUMBER: 11803869 (England and Wales)





ACCOUNTANTS: JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

Exploration & Testing Associates Limited (Registered number: 11803869)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,605 92,041
Tangible assets 5 413,833 246,062
494,438 338,103

CURRENT ASSETS
Stocks 14,882 27,725
Debtors 6 759,012 464,546
Cash at bank 28,829 19,515
802,723 511,786
CREDITORS
Amounts falling due within one year 7 933,029 879,606
NET CURRENT LIABILITIES (130,306 ) (367,820 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,132

(29,717

)

CREDITORS
Amounts falling due after more than one
year

8

86,725

79,745
NET ASSETS/(LIABILITIES) 277,407 (109,462 )

CAPITAL AND RESERVES
Called up share capital 74,016 74,002
Share premium 150,844 150,844
Retained earnings 52,547 (334,308 )
SHAREHOLDERS' FUNDS 277,407 (109,462 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Exploration & Testing Associates Limited (Registered number: 11803869)

Balance Sheet - continued
31 December 2023


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 8 August 2024 and were signed on its behalf by:





Ms N Hodson - Director


Exploration & Testing Associates Limited (Registered number: 11803869)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Exploration & Testing Associates 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.

The accounts have been prepared on a going concern basis. Since the balance sheet date, the Directors have introduced significant funds to support the company and the current year shows profits being reported each month.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Accreditation are being amortised evenly over their estimated useful life of ten years.

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.
Short leasehold - over period of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred 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.

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.

Exploration & Testing Associates Limited (Registered number: 11803869)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Invoice financing
The invoice financing creditor represents amounts received in respect of financed debts. There is full recourse to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

Government grants
Revenue based grants are credited to the profit and loss account on receipt.
Capital based grants are credited to the profit and loss account when the conditions of the grant have been met.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 114,363
AMORTISATION
At 1 January 2023 22,322
Charge for year 11,436
At 31 December 2023 33,758
NET BOOK VALUE
At 31 December 2023 80,605
At 31 December 2022 92,041

Exploration & Testing Associates Limited (Registered number: 11803869)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 91,039 218,813 309,852
Additions 4,412 220,150 224,562
Disposals - (20,378 ) (20,378 )
At 31 December 2023 95,451 418,585 514,036
DEPRECIATION
At 1 January 2023 9,514 54,276 63,790
Charge for year 4,735 39,010 43,745
Eliminated on disposal - (7,332 ) (7,332 )
At 31 December 2023 14,249 85,954 100,203
NET BOOK VALUE
At 31 December 2023 81,202 332,631 413,833
At 31 December 2022 81,525 164,537 246,062

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 29,973
Additions 171,378
Disposals (3,837 )
At 31 December 2023 197,514
DEPRECIATION
At 1 January 2023 8,760
Charge for year 15,427
Eliminated on disposal (2,125 )
At 31 December 2023 22,062
NET BOOK VALUE
At 31 December 2023 175,452
At 31 December 2022 21,213

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 672,690 366,091
Other debtors 86,322 98,455
759,012 464,546

Exploration & Testing Associates Limited (Registered number: 11803869)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,546 9,546
Hire purchase contracts 39,904 20,541
Trade creditors 353,290 314,163
Taxation and social security 41,448 85,544
Other creditors 488,841 449,812
933,029 879,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,613 33,293
Hire purchase contracts 57,793 11,714
Other creditors 5,319 34,738
86,725 79,745

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 97,697 32,255
Invoice financing 205,153 217,545
302,850 249,800

Included within other creditors is amounts which relate to a ID facility and these are secured against the book debts of the company.

HP obligations are secured against the assets to which they relate.