Registrar
Registration number:
East Harbour Property Ltd
for the Year Ended 31 December 2023
East Harbour Property Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
East Harbour Property Ltd
Company Information
Directors |
D K J Howard S M Howard |
Registered office |
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Bankers |
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Accountants |
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East Harbour Property Ltd
Directors' Report for the Year Ended 31 December 2023
The directors present their report and the financial statements for the year ended 31 December 2023.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of property management.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
Director
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
East Harbour Property Ltd
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of East Harbour Property Ltd for the year ended 31 December 2023 as set out on pages 4 to 11 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of East Harbour Property Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of East Harbour Property Ltd and state those matters that we have agreed to state to the Board of Directors of East Harbour Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than East Harbour Property Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that East Harbour Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of East Harbour Property Ltd. You consider that East Harbour Property Ltd 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 accounts of East Harbour Property Ltd. 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 accounts.
Chartered accountants
Silks Way
Braintree
Essex
CM7 3GB
East Harbour Property Ltd
Profit and Loss Account for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Turnover |
|
- |
|
Gross profit |
|
- |
|
Administrative expenses |
( |
( |
|
Operating profit/(loss) |
80,634 |
(394) |
|
Interest payable and similar expenses |
( |
- |
|
Profit/(loss) before tax |
|
( |
|
Tax on profit/(loss) |
( |
- |
|
Profit/(loss) for the financial year |
|
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
East Harbour Property Ltd
Statement of Comprehensive Income for the Year Ended 31 December 2023
2023 |
2022 |
|
Profit/(loss) for the year |
|
( |
Total comprehensive income for the year |
|
( |
East Harbour Property Ltd
(Registration number: 11308114)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
|||
Investment property |
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- |
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Current assets |
|||
Debtors |
- |
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Cash at bank and in hand |
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|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
|
( |
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets/(liabilities) |
|
( |
|
Capital and reserves |
|||
Called up share capital |
600,100 |
100 |
|
Retained earnings |
48,425 |
(394) |
|
Shareholders' funds/(deficit) |
648,525 |
(294) |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
East Harbour Property Ltd
Statement of Changes in Equity for the Year Ended 31 December 2023
Share capital |
Retained earnings |
Total |
|
At 1 January 2023 |
|
( |
( |
Profit for the year |
- |
|
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New share capital subscribed |
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- |
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At 31 December 2023 |
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|
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Share capital |
Retained earnings |
Total |
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At 1 January 2022 |
|
- |
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Loss for the year |
- |
( |
( |
At 31 December 2022 |
100 |
(394) |
(294) |
East Harbour Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of commercial property in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
Tax
Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
East Harbour Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2023 |
|
Additions |
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At 31 December |
|
The investment properties are valued by the directors at each reporting date. The directors considers that the cost of the properties is not materially different to the fair value and as such no revaluation has been made.
There has been no valuation of investment property by an independent valuer.
East Harbour Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
2023 |
2022 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
|||
Loans and borrowings |
|
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Taxation and social security |
|
- |
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Accruals and deferred income |
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|
|
|
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Creditors include bank loans which are secured of £58,584 (2022 - £Nil).
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
|||
Loans and borrowings |
|
- |
Creditors include bank loans which are secured of £192,620 (2022 - £Nil).
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
|
|
600,000 |
- |
- |
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|
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East Harbour Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
|
- |
2023 |
2022 |
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Non-current loans and borrowings |
||
Bank borrowings |
|
- |