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REGISTERED NUMBER: 02632076 (England and Wales)












EASTMAN INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






EASTMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 02632076)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EASTMAN INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs S Gemmell
R Watson
Mrs J A Watson





REGISTERED OFFICE: 2 Cromwell Avenue
Woodhall Spa
Lincolnshire
LN10 6TH





REGISTERED NUMBER: 02632076 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Louth)
Chartered Certified Accountants
1 Eastgate
Louth
Lincolnshire
LN11 9NB

EASTMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 02632076)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 400,000 400,000

CURRENT ASSETS
Debtors 4 4,218 4,368
Cash at bank 25,269 24,786
29,487 29,154
CREDITORS
Amounts falling due within one year 5 157,228 201,071
NET CURRENT LIABILITIES (127,741 ) (171,917 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,259

228,083

PROVISIONS FOR LIABILITIES 20,067 20,067
NET ASSETS 252,192 208,016

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 139,635 139,635
Retained earnings 111,557 67,381
SHAREHOLDERS' FUNDS 252,192 208,016

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mrs S Gemmell - Director


EASTMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 02632076)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rent received, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Under the Companies Act 2006 all fixed assets should be depreciated over their estimated useful lives. However, in accordance with the Financial Reporting Standard for Small Entities (effective April 2008) investment properties should not be subject to a periodic charge for depreciation and should be included in the balance sheet at their open market value. The directors consider that these properties are not held for consumption but for their investment potential and in order to give a true and fair view it is appropriate to depart from the Companies Act 2006.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 400,000
At 31 March 2023 400,000

EASTMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 02632076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 119,702
Valuation in 2023 40,000
Cost 240,298
400,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 240,298 240,298

Investment properties were valued on an open market basis on 31 March 2024 by the directors .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,218 4,218
Other debtors - 150
4,218 4,368

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,255 2,099
Other creditors 154,973 198,972
157,228 201,071