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REGISTERED NUMBER: 01005650 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Eastfield Enterprises Limited

Eastfield Enterprises Limited (Registered number: 01005650)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Eastfield Enterprises Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms C K Dowson





SECRETARY: Ms C K Dowson





REGISTERED OFFICE: Moorland Way
Tritton Road
Lincoln
LN6 7JP





REGISTERED NUMBER: 01005650 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Accountants' Report to the Director
on the Unaudited Financial Statements of
Eastfield Enterprises Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eastfield Enterprises Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Eastfield Enterprises Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eastfield Enterprises Limited and state those matters that we have agreed to state to the director of Eastfield Enterprises Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eastfield Enterprises Limited and its director for our work or for this report.

It is your duty to ensure that Eastfield Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Eastfield Enterprises Limited. You consider that Eastfield Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Eastfield Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


13 October 2023

Eastfield Enterprises Limited (Registered number: 01005650)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 549,308 413,483
Investment property 5 2,060,850 2,370,850
2,610,158 2,784,333

CURRENT ASSETS
Stocks 6 205,162 235,703
Debtors 7 144,989 100,037
Cash in hand 784,278 984,942
1,134,429 1,320,682
CREDITORS
Amounts falling due within one year 8 145,812 250,353
NET CURRENT ASSETS 988,617 1,070,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,598,775

3,854,662

PROVISIONS FOR LIABILITIES 303,030 268,029
NET ASSETS 3,295,745 3,586,633

CAPITAL AND RESERVES
Called up share capital 9 7,100 7,100
Revaluation reserve 10 224,828 224,828
Retained earning -
undistributable 10 1,016,588 1,068,694
Retained earnings 10 2,047,229 2,286,011
SHAREHOLDERS' FUNDS 3,295,745 3,586,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:




Ms C K Dowson - Director


Eastfield Enterprises Limited (Registered number: 01005650)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Eastfield Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of goods and services invoiced during the year, excluding value added tax. Income from the rental of investment properties are excluded from turnover and included in other operating income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Depreciation is not provided on freehold land and buildings. In the opinion of the director's, buildings have suffered no impairment to cost as shown and that a depreciation charge would be immaterial.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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.

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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

Eastfield Enterprises Limited (Registered number: 01005650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 370,000 296,963 26,534 44,549 738,046
Additions - 1,285 148,000 - 149,285
At 31 March 2023 370,000 298,248 174,534 44,549 887,331
DEPRECIATION
At 1 April 2022 - 276,018 16,286 32,259 324,563
Charge for year - 6,716 3,670 3,074 13,460
At 31 March 2023 - 282,734 19,956 35,333 338,023
NET BOOK VALUE
At 31 March 2023 370,000 15,514 154,578 9,216 549,308
At 31 March 2022 370,000 20,945 10,248 12,290 413,483

Freehold property is not depreciated on the basis that the directors consider that the value of the depreciation on the property itself is not material.

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2015 204,828 - - - 204,828
Valuation in 2022 20,000 - - - 20,000
Cost 145,172 298,248 174,534 44,549 662,503
370,000 298,248 174,534 44,549 887,331

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,370,850
Disposals (200,000 )
Revaluations (110,000 )
At 31 March 2023 2,060,850
NET BOOK VALUE
At 31 March 2023 2,060,850
At 31 March 2022 2,370,850

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2004 637,086
Valuation in 2009 203,650
Valuation in 2015 389,055
Valuation in 2022 265,000
Valuation in 2023 (110,000 )
Cost 676,059
2,060,850

Eastfield Enterprises Limited (Registered number: 01005650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. STOCKS
2023 2022
£    £   
Land for development 153,907 167,238
Joinery stock and WIP 51,255 68,465
205,162 235,703

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 142,764 97,509
Other debtors 2,225 2,528
144,989 100,037

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 64,697 40,335
Taxation and social security 43,745 37,106
Other creditors 37,370 172,912
145,812 250,353

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
7,100 Ordinary £1 7,100 7,100

10. RESERVES
Retained
Retained Revaluation earning -
earnings reserve undistributable Totals
£    £    £    £   

At 1 April 2022 2,286,011 224,828 1,068,694 3,579,533
Deficit for the year (40,888 ) (40,888 )
Dividends (250,000 ) (250,000 )
Fair value reserve transfer 52,106 - (52,106 ) -
At 31 March 2023 2,047,229 224,828 1,016,588 3,288,645