REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Earthworks Foundation Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Earthworks Foundation Limited |
Earthworks Foundation Limited (Registered number: 03815594) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Report of the Accountants | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
Earthworks Foundation Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
t/a A J Bennewith & Co |
Upper Ground Floor |
18 Farnham Road |
Guildford |
Surrey |
GU1 4XA |
Earthworks Foundation Limited (Registered number: 03815594) |
Report of the Directors |
for the Year Ended 31 December 2023 |
The directors present their report with the financial statements of the company for the year ended 31 December 2023. |
DIRECTORS |
The directors who held office during the year were as follows: |
Mr Jeffrey Davies Lane |
Mr Colin Richard Hillyer |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Earthworks Foundation Limited |
Report of the Accountants to the Directors of |
Earthworks Foundation Limited |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages four to ten and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
t/a A J Bennewith & Co |
Upper Ground Floor |
18 Farnham Road |
Guildford |
Surrey |
GU1 4XA |
Earthworks Foundation Limited (Registered number: 03815594) |
Income Statement |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS SURPLUS |
Administrative expenses |
(225,236 | ) | (182,254 | ) |
Other operating income |
OPERATING DEFICIT and |
DEFICIT BEFORE TAXATION | ( |
) | ( |
) |
Tax on deficit |
DEFICIT FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Earthworks Foundation Limited (Registered number: 03815594) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET (LIABILITIES)/ASSETS | ( |
) |
RESERVES |
Income and expenditure account | ( |
) |
( |
) |
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 surplus or deficit 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. |
Earthworks Foundation Limited (Registered number: 03815594) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Earthworks Foundation Limited (Registered number: 03815594) |
Statement of Changes in Equity |
for the Year Ended 31 December 2023 |
Retained | Total |
earnings | equity |
£ | £ |
Balance at 1 January 2022 |
Changes in equity |
Total comprehensive income | ( |
) | ( |
) |
Balance at 31 December 2022 |
Changes in equity |
Total comprehensive income | ( |
) | ( |
) |
Balance at 31 December 2023 | ( |
) | ( |
) |
Earthworks Foundation Limited (Registered number: 03815594) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Earthworks Foundation Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services for the use of facilities including rooms and catering (excluding Value Added Tax), grants received and the value of volunteer labour, adjusted for accrued and deferred income where applicable. The value of volunteer labour is based on the director's best estimates. Grants received from the Earthworks Trust Limited are credited to Turnover to match the costs being financed. Grants received in the form of donated labour are written off. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. 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 and Machinery 20% Straight Line |
Motor Vehicles 25% Straight Line |
Fixtures and Fittings Various rates, Straight Line |
Taxation |
The company is owned 100% by Earthworks Trust Limited. The profits of Earthworks Foundation Limited are covenanted to Earthworks Trust Limited. Consequently no liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING DEFICIT |
The operating deficit is stated after charging: |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
Earthworks Foundation Limited (Registered number: 03815594) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS |
Due within one year | 2023 | 2022 |
£ | £ |
Trade debtors | 10,644 | 12,515 |
Prepayments and accrued income | 11,848 | 6,050 |
Other debtors | - | 2 |
VAT | 494 | - |
22,986 | 18,567 |
Due after more than one year |
Amounts owed by associates | 397,254 | 628,190 |
397,254 | 628,190 |
420,240 | 646,757 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors | 7,247 | 3,291 |
Other taxes and social security | 8,662 | 4,322 |
VAT | - | 1,338 |
Other creditors | 468 | 1,263 |
Accruals and deferred income | 51,653 | 52,294 |
68,030 | 62,508 |
Earthworks Foundation Limited (Registered number: 03815594) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to associates | 415,489 | 647,981 |
415,489 | 647,981 |
9. | LIMITED BY GUARANTEE |
The company is limited by guarantee and has no share capital. |
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. |
10. | ULTIMATE CONTROLLING PARTY |
The Company's ultimate controlling party is Earthworks Trust Limited. |