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REGISTERED NUMBER: 07229381 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

East Pallant Developments Limited

East Pallant Developments Limited (Registered number: 07229381)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


East Pallant Developments Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: J Bradwell
M Bradwell





SECRETARY: J Bradwell





REGISTERED OFFICE: 4 East Pallant
Havant
Hampshire
PO9 1EA





REGISTERED NUMBER: 07229381 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

East Pallant Developments Limited (Registered number: 07229381)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,849 239,718
Investment property 5 620,000 -
633,849 239,718

CURRENT ASSETS
Debtors 6 395,688 604,316
Cash at bank - 9,752
395,688 614,068
CREDITORS
Amounts falling due within one year 7 597,709 141,342
NET CURRENT (LIABILITIES)/ASSETS (202,021 ) 472,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,828

712,444

CREDITORS
Amounts falling due after more than one
year

8

(336,850

)

(532,699

)

PROVISIONS FOR LIABILITIES (19,746 ) (19,911 )
NET ASSETS 75,232 159,834

CAPITAL AND RESERVES
Called up share capital 2 2
Non distributable retained
earnings 72,965 72,965
Retained earnings 2,265 86,867
SHAREHOLDERS' FUNDS 75,232 159,834

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Pallant Developments Limited (Registered number: 07229381)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:




M Bradwell - Director



J Bradwell - Director


East Pallant Developments Limited (Registered number: 07229381)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

East Pallant Developments 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 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 25% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

East Pallant Developments Limited (Registered number: 07229381)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 225,000 72,173 297,173
Additions - 2,999 2,999
At 30 April 2023 225,000 75,172 300,172
DEPRECIATION
At 1 May 2022 - 57,455 57,455
Charge for year - 3,868 3,868
Reclassification/transfer 225,000 - 225,000
At 30 April 2023 225,000 61,323 286,323
NET BOOK VALUE
At 30 April 2023 - 13,849 13,849
At 30 April 2022 225,000 14,718 239,718

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 395,000
Reclassification/transfer 225,000
At 30 April 2023 620,000
NET BOOK VALUE
At 30 April 2023 620,000

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2020 50,080
Valuation in 2021 40,000
Cost 529,920
620,000

The leasehold property was valued on an open market basis by an independent valuer.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract 388,067 600,000
Other debtors 7,621 4,316
395,688 604,316

East Pallant Developments Limited (Registered number: 07229381)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 384,766 5,559
Trade creditors 553 1,460
Taxation and social security 49,273 55,054
Other creditors 163,117 79,269
597,709 141,342

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 336,850 532,699

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 180,868 187,386