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REGISTERED NUMBER: 00842961 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

EARTH ANCHORS LIMITED

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EARTH ANCHORS LIMITED

Company Information
for the year ended 31 May 2024







DIRECTORS: S J Clegg
K P Clegg
J R Townshend





REGISTERED OFFICE: Unit 3 The IO Centre
Salbrook Road Industrial Estate
Salfords
Surrey
RH1 5GJ





REGISTERED NUMBER: 00842961 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 988,310 962,143

CURRENT ASSETS
Stocks 255,133 276,805
Debtors 5 114,883 116,543
Cash at bank and in hand 383,061 477,054
753,077 870,402
CREDITORS
Amounts falling due within one year 6 (383,077 ) (408,880 )
NET CURRENT ASSETS 370,000 461,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,358,310

1,423,665

CREDITORS
Amounts falling due after more than one
year

7

-

(16,075

)

PROVISIONS FOR LIABILITIES 8 (22,222 ) (13,614 )
NET ASSETS 1,336,088 1,393,976

CAPITAL AND RESERVES
Called up share capital 9 520 520
Capital redemption reserve 480 480
Retained earnings 1,335,088 1,392,976
SHAREHOLDERS' FUNDS 1,336,088 1,393,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





K P Clegg - Director


EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Earth Anchors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from furniture manufacture is recognised at the point of sale. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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 entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

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.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 895,742 60,267 19,535
Additions - 59,801 7,525
Disposals - - -
At 31 May 2024 895,742 120,068 27,060
DEPRECIATION
At 1 June 2023 - 23,797 14,454
Charge for year - 23,485 3,242
Eliminated on disposal - - -
At 31 May 2024 - 47,282 17,696
NET BOOK VALUE
At 31 May 2024 895,742 72,786 9,364
At 31 May 2023 895,742 36,470 5,081

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 68,433 71,494 1,115,471
Additions - - 67,326
Disposals (17,750 ) - (17,750 )
At 31 May 2024 50,683 71,494 1,165,047
DEPRECIATION
At 1 June 2023 47,745 67,332 153,328
Charge for year 12,671 1,761 41,159
Eliminated on disposal (17,750 ) - (17,750 )
At 31 May 2024 42,666 69,093 176,737
NET BOOK VALUE
At 31 May 2024 8,017 2,401 988,310
At 31 May 2023 20,688 4,162 962,143

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110,921 113,394
Other debtors 3,962 3,149
114,883 116,543

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 16,075 3,375
Trade creditors 209,789 163,304
Taxation and social security 71,569 75,720
Other creditors 85,644 166,481
383,077 408,880

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 16,075

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 22,222 13,614

EARTH ANCHORS LIMITED (REGISTERED NUMBER: 00842961)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 13,614
Provided during year 8,608
Balance at 31 May 2024 22,222

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
143 Ordinary A £1.00 143 143
143 Ordinary B £1.00 143 143
234 Ordinary C £1.00 234 234
520 520

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
K P Clegg
Balance outstanding at start of year 900 396
Amounts advanced 264 504
Amounts repaid (900 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 264 900

The above loan is interest free and repayable on demand.