REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
EASTWELL CONSTRUCTION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
EASTWELL CONSTRUCTION LIMITED |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 May 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
EASTWELL CONSTRUCTION LIMITED |
COMPANY INFORMATION |
for the year ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
STATEMENT OF FINANCIAL POSITION |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
STATEMENT OF FINANCIAL POSITION - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Eastwell Construction Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have considered the financial resources and commitments of the company and concluded that they have sufficient resources to meet liabilities as they fall due. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis. |
Confirmation has been received from the parent company that it will continue to provide financial support by not seeking repayment of loan accounts due until other creditors have been paid in full. |
Turnover |
Turnover represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant & machinery | 15% | on reducing balance |
Motor vehicles | 25% | on reducing balance |
Office equipment | 15% | on reducing balance and 33% on cost |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate. |
Fixed asset investments |
Unlisted investments are included at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and | Office | Motor |
machinery | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
The net book value of property, plant and equipment includes £ 51,792 (2023 - £ 27,056 ) in respect of assets held under hire purchase contracts. |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
EASTWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 04438599) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 May 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings have no specific repayment terms and may therefore fall due after more than one year. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Bad Debt Provision | - | 14,620 |
Deferred | Bad debt |
tax | provision |
£ | £ |
Balance at 1 June 2023 |
Accelerated capital allowances | 2,882 | - |
Balance at 31 May 2024 |