East Harbour Property Ltd 11308114 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property management. Digita Accounts Production Advanced 6.30.9574.0 true true 11308114 2023-01-01 2023-12-31 11308114 2023-12-31 11308114 bus:OrdinaryShareClass1 2023-12-31 11308114 bus:OrdinaryShareClass2 2023-12-31 11308114 core:RetainedEarningsAccumulatedLosses 2023-12-31 11308114 core:ShareCapital 2023-12-31 11308114 core:CurrentFinancialInstruments 2023-12-31 11308114 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11308114 core:Non-currentFinancialInstruments 2023-12-31 11308114 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11308114 bus:SmallEntities 2023-01-01 2023-12-31 11308114 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11308114 bus:FullAccounts 2023-01-01 2023-12-31 11308114 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11308114 bus:RegisteredOffice 2023-01-01 2023-12-31 11308114 bus:Director1 2023-01-01 2023-12-31 11308114 bus:Director2 2023-01-01 2023-12-31 11308114 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11308114 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 11308114 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11308114 bus:Agent1 2023-01-01 2023-12-31 11308114 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11308114 core:ShareCapital 2023-01-01 2023-12-31 11308114 countries:AllCountries 2023-01-01 2023-12-31 11308114 2022-12-31 11308114 core:RetainedEarningsAccumulatedLosses 2022-12-31 11308114 core:ShareCapital 2022-12-31 11308114 2022-01-01 2022-12-31 11308114 2022-12-31 11308114 bus:OrdinaryShareClass1 2022-12-31 11308114 bus:OrdinaryShareClass2 2022-12-31 11308114 core:CurrentFinancialInstruments 2022-12-31 11308114 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11308114 core:Non-currentFinancialInstruments 2022-12-31 11308114 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 11308114 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11308114 core:ShareCapital 2022-01-01 2022-12-31 11308114 2021-12-31 11308114 core:RetainedEarningsAccumulatedLosses 2021-12-31 11308114 core:ShareCapital 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 11308114

East Harbour Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

East Harbour Property Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

 

East Harbour Property Ltd

Company Information

Directors

D K J Howard

S M Howard

Registered office

Wetheringsett Lodge
Manor Drive
Wetheringsett
Stowmarket
Suffolk
IP14 5PP

Bankers

HSBC bank PLC
Ipswich
12 Tavern Street
Ipswich
Suffolk
IP1 3AZ

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

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:

D K J Howard

S M Howard

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 Board on 2 April 2024 and signed on its behalf by:

D K J Howard
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.






Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

2 April 2024

 

East Harbour Property Ltd

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

102,000

-

Gross profit

 

102,000

-

Administrative expenses

 

(21,366)

(394)

Operating profit/(loss)

 

80,634

(394)

Interest payable and similar expenses

 

(23,686)

-

Profit/(loss) before tax

56,948

(394)

Tax on profit/(loss)

 

(8,129)

-

Profit/(loss) for the financial year

 

48,819

(394)

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

48,819

(394)

Total comprehensive income for the year

48,819

(394)

 

East Harbour Property Ltd

(Registration number: 11308114)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

905,753

-

Current assets

 

Debtors

5

-

12,250

Cash at bank and in hand

 

4,056

1,507

 

4,056

13,757

Creditors: Amounts falling due within one year

6

(68,664)

(14,051)

Net current liabilities

 

(64,608)

(294)

Total assets less current liabilities

 

841,145

(294)

Creditors: Amounts falling due after more than one year

6

(192,620)

-

Net assets/(liabilities)

 

648,525

(294)

Capital and reserves

 

Called up share capital

7

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 2 April 2024 and signed on its behalf by:
 

D K J Howard
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

100

(394)

(294)

Profit for the year

-

48,819

48,819

New share capital subscribed

600,000

-

600,000

At 31 December 2023

600,100

48,425

648,525


 

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

100

-

100

Loss for the year

-

(394)

(394)

At 31 December 2022

100

(394)

(294)


 

 

East Harbour Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Wetheringsett Lodge, Manor Drive, Wetheringsett, Stowmarket, Suffolk, IP14 5PP.

These financial statements were authorised for issue by the Board on 2 April 2024.

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit or loss account.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

Additions

905,753

At 31 December

905,753

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

5

Debtors

2023
£

2022
£

Other debtors

-

12,250

-

12,250

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

58,584

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

13,750

Taxation and social security

 

9,079

-

Accruals and deferred income

 

1,001

301

 

68,664

14,051

Creditors include bank loans which are secured of £58,584 (2022 - £Nil).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

192,620

-

Creditors include bank loans which are secured of £192,620 (2022 - £Nil).

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1

100

100

100

100

Ordinary B of £1

600,000

600,000

-

-

 

600,100

600,100

100

100

 

East Harbour Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

58,584

-

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

192,620

-