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REGISTERED NUMBER: 07243146 (England and Wales)

















Eastfield Building & Joinery Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






Eastfield Building & Joinery Limited (Registered number: 07243146)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eastfield Building & Joinery Limited

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Mr C Johnson
Mrs C Johnson





REGISTERED OFFICE: 9 Market Place
Hedon
East Yorkshire
HU12 8JA





REGISTERED NUMBER: 07243146 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Eastfield Building & Joinery Limited (Registered number: 07243146)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,788 2,777
2,788 2,777

CURRENT ASSETS
Stocks 6 100 100
Debtors 7 5,704 10,179
Cash at bank 610 961
6,414 11,240
CREDITORS
Amounts falling due within one year 8 45,873 30,241
NET CURRENT LIABILITIES (39,459 ) (19,001 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(36,671

)

(16,224

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (36,771 ) (16,324 )
SHAREHOLDERS' FUNDS (36,671 ) (16,224 )

Eastfield Building & Joinery Limited (Registered number: 07243146)

BALANCE SHEET - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:





Mr C Johnson - Director


Eastfield Building & Joinery Limited (Registered number: 07243146)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Eastfield Building & Joinery 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Eastfield Building & Joinery Limited (Registered number: 07243146)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 15,000
AMORTISATION
At 1 June 2023
and 31 May 2024 15,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 9,656 882 1,202 11,740
Additions 773 - 167 940
At 31 May 2024 10,429 882 1,369 12,680
DEPRECIATION
At 1 June 2023 7,576 861 526 8,963
Charge for year 713 5 211 929
At 31 May 2024 8,289 866 737 9,892
NET BOOK VALUE
At 31 May 2024 2,140 16 632 2,788
At 31 May 2023 2,080 21 676 2,777

6. STOCKS
2024 2023
£    £   
Stocks 100 100

Eastfield Building & Joinery Limited (Registered number: 07243146)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,466 6,797
Other debtors - 2,183
Prepayments 1,238 1,199
5,704 10,179

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,757 2,116
Social security and other taxes 195 -
VAT 413 1,668
Credit card 733 195
Directors' current accounts 41,030 24,529
Accruals 1,745 1,733
45,873 30,241

9. LEASING AGREEMENTS

At 31 May 2024 the company had annual commitments under non-cancellable
operating leases:

2024 2023
£ £
Within one year 4,051 4,051
Between one and five years 4,726 8,777
8,777 12,828

10. GOING CONCERN

At the balance sheet date the balance sheet shows negative shareholders funds of £36,671. The applicability of going concern is dependent on upon the continued support of the directors. There are no indications that this support will cease.