Company registration number 10941722 (England and Wales)
EASTWICK ROAD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EASTWICK ROAD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
EASTWICK ROAD LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,250,000
1,250,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(20,029)
(18,119)
Net current liabilities
(20,029)
(18,119)
Total assets less current liabilities
1,229,971
1,231,881
Creditors: amounts falling due after more than one year
5
(913,481)
(897,122)
Provisions for liabilities
6
(105,368)
(105,368)
Net assets
211,122
229,391
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
7
316,104
341,392
Distributable profit and loss reserves
(105,082)
(112,101)
Total equity
211,122
229,391
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EASTWICK ROAD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 April 2024 and are signed on its behalf by:
Mr D R Wheble
Director
Company Registration No. 10941722
EASTWICK ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Eastwick Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
EASTWICK ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
3
Fixed asset investments
2023
2022
£
£
Investments
1,250,000
1,250,000
The director has assessed the value of the investment as £1,250,000 as at 30 September 2023. The value is based on the expected financial performance of the subsidiary company. Although currently loss making, the subsidiary is forecast by its directors to return to profitability. We have not undertaken any work with respect to the position of the subsidiary or the value of the investments. The investment value is reviewed on an annual basis.
Movements in fixed asset investments
Investments other than loans
£
Valuation
At 1 October 2022 & 30 September 2023
1,250,000
Carrying amount
At 30 September 2023
1,250,000
At 30 September 2022
1,250,000
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,800
Other creditors
18,229
18,119
20,029
18,119
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
913,481
897,122
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
913,481
897,122
EASTWICK ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
6
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Revaluations
105,368
105,368
There were no deferred tax movements in the year.
7
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
341,392
341,392
Non distributable profits in the year
(25,288)
-
At the end of the year
316,104
341,392
The non-distributable reserve has arisen due to the revaluation of the investment in a previous accounting period.