Registered number
01329986
Great Eastern Holdings Limited
Filleted Accounts
31 March 2024
Great Eastern Holdings Limited
Registered number: 01329986
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,575,000 3,975,000
Current assets
Debtors 4 632 -
Cash at bank and in hand 189,462 158,651
190,094 158,651
Creditors: amounts falling due within one year 5 (180,157) (212,832)
Net current assets/(liabilities) 9,937 (54,181)
Total assets less current liabilities 3,584,937 3,920,819
Provisions for liabilities (141,548) (182,615)
Net assets 3,443,389 3,738,204
Capital and reserves
Called up share capital 1,926 1,926
Revaluation reserve 6 1,577,399 1,977,399
Profit and loss account 1,864,064 1,758,879
Shareholders' funds 3,443,389 3,738,204
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Saqlly Fearnley
Director
Approved by the board on 24 July 2024
Great Eastern Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery At 25% on reducing balance
Fixtures, fittings, tools and equipment At 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
No stocks are maintained by the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 3,975,000 2,978 3,977,978
Deficit on revaluation (400,000) - (400,000)
At 31 March 2024 3,575,000 2,978 3,577,978
Depreciation
At 1 April 2023 - 2,978 2,978
At 31 March 2024 - 2,978 2,978
Net book value
At 31 March 2024 3,575,000 - 3,575,000
At 31 March 2023 3,975,000 - 3,975,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,997,601 1,997,601
Cumulative depreciation based on historical cost 1,977,399 1,682,399
20,202 315,202
4 Debtors 2024 2023
£ £
Other debtors 632 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loans 150,000 150,000
Taxation and social security costs 30,157 13,186
Other creditors - 49,646
180,157 212,832
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 1,977,399 1,682,399
(Loss)/gain on revaluation of land and buildings (400,000) 295,000
At 31 March 2024 1,577,399 1,977,399
7 Other information
Great Eastern Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Post Cottage
Denston
Newmarket
Suffolk
CB8 8PW
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