Registered number
14902919
Earthena.AI Limited
Annual Report and Unaudited Accounts
For the period ended
31 May 2024
Earthena.AI Limited
Report and accounts
Contents
Page
Accountants' report 1
Statement of financial position 2
Notes to the financial statements 3
Earthena.AI Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Earthena.AI Limited for the period ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Earthena.AI Limited for the period ended 31 May 2024 which comprise of the Income Statement, Statement of Financial Position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Earthena.AI Limited, as a body, in accordance with the terms of our engagement letter dated 14 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of Earthena.AI Limited and state those matters that we have agreed to state to the Board of Directors of Earthena.AI Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Earthena.AI Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Earthena.AI Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Earthena.AI Limited. You consider that Earthena.AI Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Earthena.AI Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MAH, Chartered Accountants
2nd Floor
154 Bishopsgate
London
EC2M 4LN
27 August, 2024
Earthena.AI Limited
Registered number: 14902919
Statement of Financial Position
as at 31 May 2024
Notes 2024
£ £
Fixed assets
Tangible assets 3 1,662
1,662
Current assets
Debtors 4 1,075
Cash at bank and in hand 85,430
86,505
Creditors: amounts falling due within one year 5 (59,760)
Net current assets 26,745
Total assets less current liabilities 28,407
Net current assets 28,407
Capital and reserves
Called up share capital 6 10,373
Share premium 7 921,255
Profit and loss account 8 (903,221)
Total equity 28,407
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The financial statements were authorised for issue and approved by the board on 27 August 2024 and signed on its behalf.
Iqbal Singh Bassi
Director
The notes on pages 3 to 6 form part of these financial statements.
Earthena.AI Limited
Notes to the Accounts
for the period from 30 May 2023 to 31 May 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A of FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (revised January 2022) and the Companies Act 2006.
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 period over which the services are performed.
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:
Computer and office equipment over 2 years
Financial assets
Basic financial assets, including trade and other receivables and cash or bank balances, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
1 Summary of significant accounting policies (continued)
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 material 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees
Average number of employees during the period (including the directors)
Number
Average number of persons employed by the company 6
3 Tangible fixed assets
Computer and office equipment
£
Cost or valuation
At 30 May 2023 -
Additions 2,666
At 31 May 2024 2,666
Depreciation
At 30 May 2023 -
Charge for the period (1,004)
At 31 May 2024 (1,004)
Carrying amount
At 31 May 2024 1,662
At 29 May 2023 -
4 Debtors 2024
£
Other debtors 758
Prepayments and accrued income 317
1,075
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 6,223
Other taxes and social security costs 21,867
Accruals and deferred income 31,670
59,760
6 Share capital Nominal 2024
value Number £
Allotted, called up and fully paid:
Ordinary shares £0.01 each 1,037,238 10,373
10,373
All the above shares has been issued during this period which is from 30 May 2023 to 10 May 2024.
7 Share premium 2024
£
At 30 May -
Shares issued 921,255
At 31 May 921,255
8 Profit and loss account 2024
£
At 30 May -
Loss for the period (903,221)
At 31 May (903,221)
9 Presentation currency
The financial statements are presented in Sterling.
10 Controlling party
Mr Iqbal Singh Bassi and Mr Karan Chopra controls the company by virtue of their majority shareholding.
11 Legal form of entity and country of incorporation
Earthena.AI Limited is a private company limited by shares and incorporated in England. The address of the company's principal place of business and registered office is:
85 Great Portland Street, First Floor, London, England, W1W 7LT
Earthena.AI Limited false 2023-05-30 2024-05-31 2024-05-31 VT Final Accounts April 2024 Iqbal Singh Bassi No description of principal activity 14902919 2023-05-30 2024-05-31 14902919 bus:PrivateLimitedCompanyLtd 2023-05-30 2024-05-31 14902919 bus:AuditExemptWithAccountantsReport 2023-05-30 2024-05-31 14902919 bus:Director40 2023-05-30 2024-05-31 14902919 bus:FRS102 2023-05-30 2024-05-31 14902919 bus:FullAccounts 2023-05-30 2024-05-31 14902919 2024-05-31 14902919 2023-05-29 xbrli:pure