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COMPANY REGISTRATION NUMBER: 15015752
Eastways Holdings Limited
Filleted Unaudited Financial Statements
30 April 2024
Eastways Holdings Limited
Financial Statements
Period from 20 July 2023 to 30 April 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Eastways Holdings Limited
Officers and Professional Advisers
Director
Mr D W Smithyes
Registered office
Eastways
Eastways Industrial Estate
Witham
Essex
CM8 3YQ
Accountants
Edmund Carr LLP
Chartered accountants
146 New London Road
Chelmsford
Essex
CM2 0AW
Eastways Holdings Limited
Statement of Financial Position
30 April 2024
30 Apr 24
Note
£
£
Fixed assets
Tangible assets
5
412,145
Current assets
Debtors
6
181,683
Cash at bank and in hand
112,577
---------
294,260
Creditors: amounts falling due within one year
7
612,716
---------
Net current liabilities
318,456
---------
Total assets less current liabilities
93,689
Creditors: amounts falling due after more than one year
8
110,930
---------
Net liabilities
( 17,241)
---------
Capital and reserves
Called up share capital
9
100
Profit and loss account
( 17,341)
--------
Shareholders deficit
( 17,241)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eastways Holdings Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
Mr D W Smithyes
Director
Company registration number: 15015752
Eastways Holdings Limited
Notes to the Financial Statements
Period from 20 July 2023 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eastways, Eastways Industrial Estate, Witham, Essex, CM8 3YQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director believes that the company has sufficient resources and support to continue trading for the next 12 months from the date of signing these accounts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvements
-
6% reducing balance
Plant and machinery
-
10% reducing balance
Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Leasehold property improvements
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 20 July 2023
Additions
196,656
206,012
30,733
433,401
---------
---------
--------
---------
At 30 April 2024
196,656
206,012
30,733
433,401
---------
---------
--------
---------
Depreciation
At 20 July 2023
Charge for the period
9,051
8,083
4,122
21,256
---------
---------
--------
---------
At 30 April 2024
9,051
8,083
4,122
21,256
---------
---------
--------
---------
Carrying amount
At 30 April 2024
187,605
197,929
26,611
412,145
---------
---------
--------
---------
6. Debtors
30 Apr 24
£
Amounts owed by related undertakings
19,901
Other debtors
161,782
---------
181,683
---------
7. Creditors: amounts falling due within one year
30 Apr 24
£
Bank loans and overdrafts
53,371
Trade creditors
278,368
Accruals and deferred income
2,016
Social security and other taxes
10,479
Director loan accounts
249,900
Other creditors
18,582
---------
612,716
---------
8. Creditors: amounts falling due after more than one year
30 Apr 24
£
Bank loans and overdrafts
110,930
---------
9. Called up share capital
Issued, called up and fully paid
30 Apr 24
No.
£
Ordinary shares of £ 1 each
100
100
----
----
10. Related party transactions
At the year end, the company owed the director £ 249,900 by way of a directors' loan account. This is included within creditors. During the year, a total of £ 147,488 of staff and administration costs were recharged to Nova Automotive Group Limited, in which the director of the company is also the director. At the year-end, Nova Automotive Group Limited owed the company £ 12,011 , which is shown within debtors.