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REGISTERED NUMBER: 11463893 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

EASTBURY AVENUE LTD

EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Report of the Accountants 2

Statement of Financial Position 3

Notes to the Financial Statements 5


EASTBURY AVENUE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr M Mehta





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 11463893 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

EASTBURY AVENUE LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
EASTBURY AVENUE LTD


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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


21 February 2024

EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 2,347,408 3,182,815
Debtors 5 16,990 224,339
Cash at bank 92 1,646
2,364,490 3,408,800
CREDITORS
Amounts falling due within one year 6 906,957 1,532,833
NET CURRENT ASSETS 1,457,533 1,875,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,457,533

1,875,967

CREDITORS
Amounts falling due after more than one year 7 1,500,000 1,900,000
NET LIABILITIES (42,467 ) (24,033 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (42,468 ) (24,034 )
SHAREHOLDERS' FUNDS (42,467 ) (24,033 )

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 his 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.

EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 2 February 2024 and were signed by:





Mr M Mehta - Director


EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Eastbury Avenue Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Inventories
Property work in progress is valued at the lower of cost and net realisable less cost to sell.

Cost for this purpose comprises the purchase of land and buildings, development expenditure and overheads.

In considering the net realisable value of land and properties it is assumed that the development will be
completed and sold in the ordinary course of the company's business.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. STOCKS
2023 2022
£    £   
Development properties 2,347,408 3,182,815

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected companies - 209,338
Other debtors 15,001 15,001
Prepayments and accrued income 1,989 -
16,990 224,339

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to connected companies 687,617 1,303,817
Other creditors 214,269 216,115
Accrued expenses 5,071 12,901
906,957 1,532,833

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 1,500,000 1,900,000

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,500,000 1,900,000

9. SECURED DEBTS

The other loan was refinanced during the year.

The bank loan is secured by a legal charge and a debenture over the development property of the company. There is also a director's personal guarantee limited to the loan value, and a cross guarantee from MM5 Investments Ltd and MM6 Investments Ltd limited to £8,576,500. The loan is repayable by January 2027 and rate of interest is 3.29% per annum.

EASTBURY AVENUE LTD (REGISTERED NUMBER: 11463893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Emperor Development (Group) Limited, a company registered in England and Wales.

The director is the ultimate controller by virtue of his shareholding in Emperor Development (Group) Limited.