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REGISTERED NUMBER: 02620283 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

East West Contracting Limited

East West Contracting Limited (Registered number: 02620283)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


East West Contracting Limited

Company Information
for the year ended 30 June 2023







DIRECTOR: S F Patterson





REGISTERED OFFICE: 711 North Circular Road
London
NW2 7AX





REGISTERED NUMBER: 02620283 (England and Wales)





ACCOUNTANTS: Gorrie Whitson Limited
1st Floor, Cromwell House
14 Fulwood Place
London
WC1V 6HZ

East West Contracting Limited (Registered number: 02620283)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,257 15,384

CURRENT ASSETS
Stock and work in progress 5,000 8,795
Debtors 5 165,511 157,272
Cash at bank - 21,850
170,511 187,917
CREDITORS
Amounts falling due within one year 6 49,553 21,114
NET CURRENT ASSETS 120,958 166,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,215

182,187

CREDITORS
Amounts falling due after more than one
year

7

138,262

138,262
NET (LIABILITIES)/ASSETS (8,047 ) 43,925

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 8 (13,047 ) 38,925
SHAREHOLDERS' FUNDS (8,047 ) 43,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

East West Contracting Limited (Registered number: 02620283)

Balance Sheet - continued
30 June 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 9 April 2024 and were signed by:





S F Patterson - Director


East West Contracting Limited (Registered number: 02620283)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

East West Contracting 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
At 30th June 2023 the company was dependent upon the director's support to fund its deficit. The director confirms that this financial support will continue for at least twelve months following the approval date of these accounts he therefore considers it appropriate to prepare them on the going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Stocks
Stock and work in progress 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.

East West Contracting Limited (Registered number: 02620283)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable (debtors) and payable (creditors).

Debt instruments such as accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured. initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. if a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Interest income
Interest income is recognised using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits that are subject to an insignificant risk to changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

East West Contracting Limited (Registered number: 02620283)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2022 1,696 21,469 54,605 77,770
Disposals - - (13,998 ) (13,998 )
At 30 June 2023 1,696 21,469 40,607 63,772
DEPRECIATION
At 1 July 2022 1,695 21,468 39,223 62,386
Charge for year - - 6,127 6,127
Eliminated on disposal - - (13,998 ) (13,998 )
At 30 June 2023 1,695 21,468 31,352 54,515
NET BOOK VALUE
At 30 June 2023 1 1 9,255 9,257
At 30 June 2022 1 1 15,382 15,384

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 8,700 13,243
Other debtors 58,828 54,578
Electric Bicycle Company Ltd. 29,153 29,153
VAT - 2,294
Deferred tax asset 67,000 56,000
Prepayments 1,830 2,004
165,511 157,272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 30,405 -
Trade creditors 7,914 7,297
Social security and other taxes 590 468
VAT 1,575 -
Directors' current accounts 6,219 5,374
Accrued expenses 2,850 7,975
49,553 21,114

East West Contracting Limited (Registered number: 02620283)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
East West Electrical &
Mechanical Company Ltd.. 137,504 137,504
East West Construction Co. Ltd 758 758
138,262 138,262

8. RESERVES
Retained
earnings
£   

At 1 July 2022 38,925
Deficit for the year (49,972 )
Dividends (2,000 )
At 30 June 2023 (13,047 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

The company's ultimate controlling party is the director, Mr S Patterson.

At 30th June 2023 the company owed Mr Patterson £6,219 (2022 : £5,374) on interest-free current account.

The company paid Mr Patterson rent of £6,000 in the year for its operating premises.

Included in debtors are amounts totalling £87,981 (2022 : £83,731) due from Electric Bicycle Company Limited, a company controlled by Mr Patterson.

The company rendered a service charge of £4,250 against Electric Bicycle Company Limited.