Company registration number SC043909 (Scotland)
Earnvale Tractors Limited
unaudited financial statements
for the year ended 31 December 2023
Pages for filing with Registrar
Earnvale Tractors Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Earnvale Tractors Limited
Balance sheet
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(273,451)
(273,451)
Net current liabilities
(273,451)
(273,451)
Capital and reserves
Called up share capital
4
26,000
26,000
Profit and loss reserves
(299,451)
(299,451)
Total equity
(273,451)
(273,451)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 September 2024
Neil Barclay
Director
Company Registration No. SC043909
Earnvale Tractors Limited
Notes to the financial statements
for the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information
Earnvale Tractors Limited is a private company limited by shares incorporated in Scotland. The registered office is South Road, Insch, Aberdeenshire, AB52 6XF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.4
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Earnvale Tractors Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
273,451
273,451
4
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
26,000
26,000
26,000
26,000
The Ordinary shares carry full ownership, voting and dividend rights.
5
Profit and loss reserves
Profit and loss reserves include all current and prior periods retained profits and losses.