Exploration & Testing Associates Limited - Accounts to registrar (filleted) - small 18.2
Exploration & Testing Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period |
| 1 September 2019 to 31 December 2020 |
| for |
| Exploration & Testing Associates Limited |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Contents of the Financial Statements |
| for the Period 1 September 2019 to 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Exploration & Testing Associates Limited |
| Company Information |
| for the Period 1 September 2019 to 31 December 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 140 Coniscliffe Road |
| DARLINGTON |
| Co Durham |
| DL3 7RT |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Balance Sheet - continued |
| 31 December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Notes to the Financial Statements |
| for the Period 1 September 2019 to 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Exploration & Testing Associates Limited is a |
| 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. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
| There were no material departures from that standard. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents the value, net of the value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
| Income Recognition |
| Income is recognised when the conditions contained within a contract for services have been met. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Leasehold Improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the period 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 the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2019 to 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents the value, net of the value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
| Income Recognition |
| Income is recognised when the conditions contained within a contract for services have been met. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Accreditation |
| £ |
| COST |
| Additions |
| At 31 December 2020 |
| AMORTISATION |
| Amortisation for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2019 to 31 December 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and | Computer |
| Improvements | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2019 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| Charge for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 August 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security | ( |
) |
| Other creditors |
| Directors' current accounts | - | 16,789 |
| Accruals and deferred income |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2019 to 31 December 2020 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Other loans - 1-2 years | 10,000 |
| Other loans - 2-5 years | 29,167 | - |
| Other loans more 5yrs instal |
| Hire purchase contracts (see note 9) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 3,333 | - |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| HP obligations are secured against the assets to which they relate |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loan | 181,358 | - |
| The bank loan is secured by fixed and floating charge on all the property. |
| Included within other creditors is amounts which relate to a ID facility and these are secured against the book debts of the company |
| 11. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | - | 935 |
| Exploration & Testing Associates Limited (Registered number: 11803869) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2019 to 31 December 2020 |
| 11. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2019 |
| Accelerated capital allowances | (935 | ) |
| Balance at 31 December 2020 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 105 |
| B Ordinary | £1 | 25 | - |
| Redeemable Preference | £1 | 73,826 | - |
| 73,982 | 105 |