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REGISTERED NUMBER: 07350954 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

EASTWOODS SOLICITORS LTD

EASTWOODS SOLICITORS LTD (REGISTERED NUMBER: 07350954)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


EASTWOODS SOLICITORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: S Eastwood





SECRETARY: S Eastwood





REGISTERED OFFICE: Tile Cottage
Marlow Road
Maidenhead
Berkshire
SL6 6NR





REGISTERED NUMBER: 07350954 (England and Wales)






EASTWOODS SOLICITORS LTD (REGISTERED NUMBER: 07350954)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
CURRENT ASSETS
Debtors 5 1,660 10,504
Cash at bank 251 2,140
1,911 12,644
CREDITORS
Amounts falling due within one year 6 456,324 465,695
NET CURRENT LIABILITIES (454,413 ) (453,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(454,413

)

(453,051

)

CAPITAL AND RESERVES
Called up share capital 7 51,000 51,000
Retained earnings (505,413 ) (504,051 )
SHAREHOLDERS' FUNDS (454,413 ) (453,051 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 authorised for issue by the director and authorised for issue on 30 January 2025 and were signed by:





S Eastwood - Director


EASTWOODS SOLICITORS LTD (REGISTERED NUMBER: 07350954)

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


1. STATUTORY INFORMATION

Eastwoods Solicitors Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.

- Carrying value of goodwill

The carrying value of goodwill is assessed annually by the directors with any indicators of impairment considered. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the amortisation rates and useful lives on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain reasonable.

- Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are reassessed annually.

- Valuation of work in progress

Estimates are made in respect of the valuation of work in progress. When assessing the value of work in progress, factors including current trading experience, historical experience, the time management system in place and profile of bills issued immediately after the year end are considered.

- Recoverability of debtors

Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provision required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

EASTWOODS SOLICITORS LTD (REGISTERED NUMBER: 07350954)

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


2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the unincorporated practice on 30 November 2010, is being amortised evenly over its estimated useful life of 10 years.

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement.

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.

3. EMPLOYEES AND DIRECTORS

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

EASTWOODS SOLICITORS LTD (REGISTERED NUMBER: 07350954)

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


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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,660 10,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
VAT 31,175 31,175
Directors' current accounts 391,480 401,450
Accrued expenses 33,669 33,070
456,324 465,695

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
5,100 Ordinary £1 51,000 51,000