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Registration number: 13390867

Eaton Property Solutions Midlands Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Eaton Property Solutions Midlands Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

 

Eaton Property Solutions Midlands Ltd

Company Information

Director

Miss Deborah Julie Hall

Registered office

4d Heathfield Road
Kings Heath
Birmingham
West Midlands
B14 7DB

Accountants

Pattinsons Business Services Ltd Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

Eaton Property Solutions Midlands Ltd

Director's Report for the Year Ended 31 May 2024

The director presents her report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Miss Deborah Julie Hall

Principal activity

The principal activity of the company is the letting of it's own properties.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 17 February 2025 and signed on its behalf by:

.........................................
Miss Deborah Julie Hall
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Eaton Property Solutions Midlands Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eaton Property Solutions Midlands Ltd for the year ended 31 May 2024 as set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Eaton Property Solutions Midlands Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Eaton Property Solutions Midlands Ltd and state those matters that we have agreed to state to the Board of Directors of Eaton Property Solutions Midlands Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eaton Property Solutions Midlands Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eaton Property Solutions Midlands Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eaton Property Solutions Midlands Ltd. You consider that Eaton Property Solutions Midlands Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Eaton Property Solutions Midlands Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

17 February 2025

 

Eaton Property Solutions Midlands Ltd

(Registration number: 13390867)
Balance Sheet as at 31 May 2024

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

326,000

310,000

Current assets

 

Cash at bank and in hand

 

1,852

2,670

Creditors: Amounts falling due within one year

5

(74,217)

(73,861)

Net current liabilities

 

(72,365)

(71,191)

Total assets less current liabilities

 

253,635

238,809

Creditors: Amounts falling due after more than one year

5

(204,824)

(204,794)

Net assets

 

48,811

34,015

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

48,711

33,915

Shareholders' funds

 

48,811

34,015

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 17 February 2025
 

.........................................
Miss Deborah Julie Hall
Director

 

Eaton Property Solutions Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
4d Heathfield Road
Kings Heath
Birmingham
West Midlands
B14 7DB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Eaton Property Solutions Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 June

310,000

Fair value adjustments

16,000

At 31 May

326,000

There has been no valuation of investment property by an independent valuer, the property was revalued by the director at the year end using an Online Valuation tool.

 

Eaton Property Solutions Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,255

1,050

Other creditors

 

72,962

72,811

 

74,217

73,861

Due after one year

 

Loans and borrowings

7

204,824

204,794

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

204,824

204,794

8

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £204,794 (2023 - £204,794). A charge registered on 12 August 2021 by Paratus Amc Limited secures the liability by a mortgage deed over the property situated at 63 Spiceland Road, Birmingham which is held as an investment property within the financial statements.

9

Related party transactions

During the year the company advanced funds totalling £Nil (2023: £Nil) and received £Nil (2023: £Nil) from Eaton Mortgages and Protection Ltd, a company connected by virtue of common directorship. At the end of the year £71,500 was outstanding in relation to this balance.