Eterlast Limited - Period Ending 2022-08-31
Eterlast Limited - Period Ending 2022-08-31
Registration number:
Eterlast Limited
for the Period from 12 August 2021 to 31 August 2022
Eterlast Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Eterlast Limited
Company Information
Directors |
Mr J Megia Rua Mr J Roure I Parera Mr O Strong |
Registered office |
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Eterlast Limited
(Registration number: 13563085)
Balance Sheet as at 31 August 2022
Note |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Share premium reserve |
628,065 |
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Advanced subscriptions |
2,033,731 |
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Retained earnings |
(753,405) |
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Shareholders' funds |
1,908,391 |
For the financial period ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Eterlast Limited
Notes to the Unaudited Financial Statements for the Period from 12 August 2021 to 31 August 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% straight line |
Eterlast Limited
Notes to the Unaudited Financial Statements for the Period from 12 August 2021 to 31 August 2022
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Eterlast Limited
Notes to the Unaudited Financial Statements for the Period from 12 August 2021 to 31 August 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2022 |
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Depreciation |
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Charge for the period |
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At 31 August 2022 |
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Carrying amount |
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At 31 August 2022 |
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Eterlast Limited
Notes to the Unaudited Financial Statements for the Period from 12 August 2021 to 31 August 2022
Investments |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 31 August 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
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Subsidiary undertakings |
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Calle Torrent de le Roses
Spain |
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Debtors |
Current |
Note |
2022 |
Amounts owed by related parties |
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Prepayments |
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Other debtors |
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The amounts owed by related parties is an informal loan with Eterlast S.L. totalling £169,016. This loan represents money lent to Eterlast S.L. for operational costs and recharged costs on costs incurred relating to Eterlast S.L.
This loan has no formal agreement, no interest is incurred and it is repayable on demand.
Eterlast Limited
Notes to the Unaudited Financial Statements for the Period from 12 August 2021 to 31 August 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
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No. |
£ |
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Ordinary of £0.000001 each |
115,829 |
0.12 |
New shares allotted
During the period 115,829 Ordinary having an aggregate nominal value of £0.12 were allotted for an aggregate consideration of £628,065. |