Company registration number 04791020 (England and Wales)
EARTHMOVING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
EARTHMOVING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
EARTHMOVING LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
242,761
312,086
Current assets
Stocks
64,695
64,153
Debtors
4
69,912
100,591
Cash at bank and in hand
110,440
127,935
245,047
292,679
Creditors: amounts falling due within one year
5
(358,015)
(410,464)
Net current liabilities
(112,968)
(117,785)
Total assets less current liabilities
129,793
194,301
Creditors: amounts falling due after more than one year
6
(9,221)
(17,167)
Net assets
120,572
177,134
Capital and reserves
Called up share capital
50
50
Profit and loss reserves
120,522
177,084
Total equity
120,572
177,134
EARTHMOVING LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for:
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mrs EM Kitching
Director
Company registration number 04791020 (England and Wales)
EARTHMOVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Earthmoving Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fernwood House, Fernwood Road, Jesmond, Newcastle upon Tyne, United Kingdom, NE2 1TJ.
The presentation currency of the financial statements is the Pound Sterling (£).
The financial statements are rounded to the nearest £1.
1.1
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.
1.2
Turnover
Turnover represents net invoiced sales of plant hire and plant sales, recognised on an accruals basis excluding VAT.
1.3
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 equipment
20% on cost
Motor vehicles
25% on cost
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 tax rates and laws that have been enacted of 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 difference 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
EARTHMOVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
428,582
1,805
430,387
Additions
3,036
3,036
At 30 June 2024
431,618
1,805
433,423
Depreciation and impairment
At 1 July 2023
116,496
1,805
118,301
Depreciation charged in the year
72,361
72,361
At 30 June 2024
188,857
1,805
190,662
Carrying amount
At 30 June 2024
242,761
242,761
At 30 June 2023
312,086
312,086
EARTHMOVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
41,429
92,801
Prepayments and accrued income
1,377
850
42,806
93,651
Deferred tax asset (note )
27,106
6,940
69,912
100,591
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,648
10,648
Obligations under finance leases
13,387
22,838
Trade creditors
6,019
30,476
Taxation and social security
2,472
5,920
Other creditors
323,464
338,576
Accruals and deferred income
2,025
2,006
358,015
410,464
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,221
17,167