Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 03378920 Mr John Baldwin Mr John Baldwin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03378920 2023-05-31 03378920 2024-05-31 03378920 2023-06-01 2024-05-31 03378920 frs-core:CurrentFinancialInstruments 2024-05-31 03378920 frs-core:Non-currentFinancialInstruments 2024-05-31 03378920 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 03378920 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03378920 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 03378920 frs-core:PlantMachinery 2024-05-31 03378920 frs-core:PlantMachinery 2023-06-01 2024-05-31 03378920 frs-core:PlantMachinery 2023-05-31 03378920 frs-core:RevaluationReserve 2023-05-31 03378920 frs-core:RevaluationReserve 2024-05-31 03378920 frs-core:ShareCapital 2024-05-31 03378920 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 03378920 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03378920 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 03378920 frs-bus:SmallEntities 2023-06-01 2024-05-31 03378920 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03378920 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03378920 frs-core:ListedExchangeTraded 2024-05-31 03378920 frs-core:ListedExchangeTraded 2023-05-31 03378920 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 03378920 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 03378920 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 03378920 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 03378920 frs-bus:Director1 2023-06-01 2024-05-31 03378920 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 03378920 frs-core:CurrentFinancialInstruments 1 2024-05-31 03378920 frs-countries:EnglandWales 2023-06-01 2024-05-31 03378920 2022-05-31 03378920 2023-05-31 03378920 2022-06-01 2023-05-31 03378920 frs-core:CurrentFinancialInstruments 2023-05-31 03378920 frs-core:Non-currentFinancialInstruments 2023-05-31 03378920 frs-core:RevaluationReserve 2023-05-31 03378920 frs-core:ShareCapital 2023-05-31 03378920 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 03378920 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 03378920
Eastoak Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03378920
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,155,111 4,164,838
Investment Properties 5 1,134,862 1,134,862
Investments 6 9,921 9,921
5,299,894 5,309,621
CURRENT ASSETS
Debtors 7 383,034 369,233
Cash at bank and in hand 5,411 27,131
388,445 396,364
Creditors: Amounts Falling Due Within One Year 8 (160,224 ) (180,121 )
NET CURRENT ASSETS (LIABILITIES) 228,221 216,243
TOTAL ASSETS LESS CURRENT LIABILITIES 5,528,115 5,525,864
Creditors: Amounts Falling Due After More Than One Year 9 (1,841,928 ) (1,895,845 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (799,949 ) (709,449 )
NET ASSETS 2,886,238 2,920,570
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 2,858,927 2,858,927
Profit and Loss Account 27,309 61,641
SHAREHOLDERS' FUNDS 2,886,238 2,920,570
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Baldwin
Director
29/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Eastoak Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03378920 . The registered office is Forge Farm, Goudhurst, Cranbrook, Kent, TN17 2QZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Plant & Machinery 15% WDV
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 June 2023 4,100,000 148,765 4,248,765
As at 31 May 2024 4,100,000 148,765 4,248,765
Depreciation
As at 1 June 2023 - 83,927 83,927
Provided during the period - 9,727 9,727
As at 31 May 2024 - 93,654 93,654
Net Book Value
As at 31 May 2024 4,100,000 55,111 4,155,111
As at 1 June 2023 4,100,000 64,838 4,164,838
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,134,862
6. Investments
Listed
£
Cost
As at 1 June 2023 9,921
As at 31 May 2024 9,921
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 9,921
As at 1 June 2023 9,921
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,523 -
Intercompany account 377,680 366,167
Other taxes and social security 2,831 3,066
383,034 369,233
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,520 2,519
Bank loans and overdrafts 45,401 62,866
Corporation tax 47,594 64,442
Other creditors 4,500 4,500
Inter-company account 59,965 45,675
Director's loan account 244 119
160,224 180,121
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,841,928 1,895,845
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Revaluation Reserve
£
As at 1 June 2023 2,858,927
As at 31 May 2024 2,858,927
Page 5
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12. Related Party Transactions
Included in the Other Debtors is an amount of £366,167 (2022 - £340,869) owed by Westoak Farms Ltd, a company under the control of the director Mr J Baldwin. No repayment terms have been set and no interest is to be charged.
Included in the Other Creditors is an amount of £45,675 (2022 - £45,875) owed by Bedgebury Estate Ltd, a company under the control of the director Mr J Baldwin. No repayment terms have been set and no interest is to be charged.
Included in the Other Creditors is an amount owed to the company director Mr J Balwdin totalling £244 (2022 - £193), no interest is to be charged.
During the year income totalling £32,000 has been received from Bedgebury Estate Ltd, a company under the control of the director Mr J Baldwin.
Page 6