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Company registration number: 04719363
Eastwest Limited
Unaudited filleted financial statements
31 March 2023
Eastwest Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
Eastwest Limited
Directors and other information
Directors G J Limb
Company number 04719363
Registered office 392-394 Hoylake Road
Moreton
Moreton
Wirral
CH46 6DF
Accountant Hailwood & Co
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
Eastwest Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Eastwest Limited
Year ended 31 March 2023
As described on the Statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2023, as set out on pages 3 to 6.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Hailwood & Co
Chartered Accountants
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
22 December 2023
Eastwest Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 14 18
_______ _______
14 18
Current assets
Cash at bank and in hand 430 430
_______ _______
430 430
Creditors: amounts falling due
within one year 6 ( 6,396) ( 6,172)
_______ _______
Net current liabilities ( 5,966) ( 5,742)
_______ _______
Total assets less current liabilities ( 5,952) ( 5,724)
_______ _______
Net liabilities ( 5,952) ( 5,724)
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account ( 5,955) ( 5,727)
_______ _______
Shareholders deficit ( 5,952) ( 5,724)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 December 2023 , and are signed on behalf of the board by:
G J Limb
Director
Company registration number: 04719363
Eastwest Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hailwood & Co, 392-394 Hoylake Road, Moreton, Moreton, Wirral, CH46 6DF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 25 % reducing balance
Website costs - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Computer equipment Website costs Total
£ £ £
Cost
At 1 April 2022 and 31 March 2023 722 789 1,511
_______ _______ _______
Depreciation
At 1 April 2022 709 784 1,493
Charge for the year 3 1 4
_______ _______ _______
At 31 March 2023 712 785 1,497
_______ _______ _______
Carrying amount
At 31 March 2023 10 4 14
_______ _______ _______
At 31 March 2022 13 5 18
_______ _______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 6,396 6,172
_______ _______
7. Controlling party
The company is controlled by the directors whose names are shown on the director's report.
8. Directors' advances, credits and guarantees
All movements on directors' advances, credits and guarantees, were as would be expected under normal market conditions, not material in terms of risk or benefits arising and would therefore not influence the users of these accounts when assessing the financial position of the company.
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