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Company No: 14223891 (England and Wales)

TERRA FURTHER LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

TERRA FURTHER LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

TERRA FURTHER LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
TERRA FURTHER LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
DIRECTOR D E Caygill
REGISTERED OFFICE 20-22 Wenlock Road
London
England
N1 7GU
United Kingdom
COMPANY NUMBER 14223891 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
TERRA FURTHER LTD

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2024
TERRA FURTHER LTD

STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 JULY 2024
Note 31.07.2024 31.07.2023
£ £
Fixed assets
Tangible assets 3 9,290 0
9,290 0
Current assets
Debtors 4 19,878 1,685
Cash at bank and in hand 5 44,475 28,976
64,353 30,661
Creditors: amounts falling due within one year 6 ( 47,878) ( 11,511)
Net current assets 16,475 19,150
Total assets less current liabilities 25,765 19,150
Net assets 25,765 19,150
Capital and reserves
Called-up share capital 1 1
Profit and loss account 25,764 19,149
Total shareholder's funds 25,765 19,150

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Terra Further Ltd (registered number: 14223891) were approved and authorised for issue by the Director on 23 April 2025. They were signed on its behalf by:

D E Caygill
Director
TERRA FURTHER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
TERRA FURTHER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Terra Further Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20-22 Wenlock Road, London, England, N1 7GU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
31.07.2024
Period from
08.08.2022 to
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2023 0 0
Additions 9,736 9,736
At 31 July 2024 9,736 9,736
Accumulated depreciation
At 01 August 2023 0 0
Charge for the financial year 446 446
At 31 July 2024 446 446
Net book value
At 31 July 2024 9,290 9,290
At 31 July 2023 0 0

4. Debtors

31.07.2024 31.07.2023
£ £
Trade debtors 19,878 1,685

5. Cash and cash equivalents

31.07.2024 31.07.2023
£ £
Cash at bank and in hand 44,475 28,976

6. Creditors: amounts falling due within one year

31.07.2024 31.07.2023
£ £
Trade creditors 485 0
Taxation and social security 45,859 10,731
Other creditors 1,534 780
47,878 11,511