EARNPS LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04761158

EARNPS LIMITED

Filleted Unaudited Financial Statements

30 September 2024

EARNPS LIMITED

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		2,657,895	2,663,814

Current assets

Debtors	5	437,589	621,703
Cash at bank and in hand		3,008	3,307
		---------	---------
		440,597	625,010

Creditors: amounts falling due within one year	6	630,848		820,324
		---------		---------
Net current liabilities			190,251	195,314
			------------	------------
Total assets less current liabilities			2,467,644	2,468,500

Creditors: amounts falling due after more than one year	7	563,167	600,232
		------------	------------
Net assets		1,904,477	1,868,268
		------------	------------

Capital and reserves

Called up share capital	1	1
Revaluation reserve	1,200,000	1,200,000
Profit and loss account	704,476	668,267
	------------	------------
Shareholders funds	1,904,477	1,868,268
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

EARNPS LIMITED

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

D Patel

Director

Company registration number: 04761158

EARNPS LIMITED

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, Vyman House, 104 College Road, Harrow, Middlesex, HA1 1BQ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	33% reducing balance
Fixtures & Fittings	-	20% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

4. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2023 and 30 September 2024	2,768,302	54,725	7,370	2,830,397
	------------	--------	-------	------------
Depreciation
At 1 October 2023	133,972	25,684	6,927	166,583
Charge for the year	–	5,808	111	5,919
	------------	--------	-------	------------
At 30 September 2024	133,972	31,492	7,038	172,502
	------------	--------	-------	------------
Carrying amount
At 30 September 2024	2,634,330	23,233	332	2,657,895
	------------	--------	-------	------------
At 30 September 2023	2,634,330	29,041	443	2,663,814
	------------	--------	-------	------------

5. Debtors

	2024	2023
	£	£
Trade debtors	24,850	24,850
Other debtors	412,739	596,853
	---------	---------
	437,589	621,703
	---------	---------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	20,125	20,125
Corporation tax	36,212	26,123
Other creditors	574,511	774,076
	---------	---------
	630,848	820,324
	---------	---------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	563,167	600,232
	---------	---------

8. Related party transactions

The company was under the control of Mr D Patel throughout the current and previous year. Mr D Patel is the managing director and majority shareholder.