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Registrar

Registration number: 11308114

East Harbour Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

East Harbour Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

East Harbour Property Ltd

Company Information

Directors

D K J Howard

S M Howard

Registered office

Wetheringsett Lodge
Manor Drive
Wetheringsett
Stowmarket
Suffolk
IP14 5PP

Bankers

HSBC bank PLC
Ipswich
12 Tavern Street
Ipswich
Suffolk
IP1 3AZ

Accountants

Lambert Chapman LLP
Chartered accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

East Harbour Property Ltd

(Registration number: 11308114)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

918,438

905,753

Current assets

 

Debtors

5

6,800

-

Cash at bank and in hand

 

4,695

4,056

 

11,495

4,056

Creditors: Amounts falling due within one year

6

(28,151)

(68,664)

Net current liabilities

 

(16,656)

(64,608)

Total assets less current liabilities

 

901,782

841,145

Creditors: Amounts falling due after more than one year

6

-

(192,620)

Net assets

 

901,782

648,525

Capital and reserves

 

Called up share capital

7

800,100

600,100

Retained earnings

101,682

48,425

Shareholders' funds

 

901,782

648,525

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

D K J Howard
Director

 

East Harbour Property Ltd

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

1

General information

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

The address of its registered office is: Wetheringsett Lodge, Manor Drive, Wetheringsett, Stowmarket, Suffolk, IP14 5PP.

These financial statements were authorised for issue by the Board on 4 March 2025.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of commercial property in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. 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 the profit or loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

East Harbour Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 January

905,753

Additions

12,685

At 31 December

918,438

The investment properties are valued by the directors at each reporting date. The directors considers that the cost of the properties is not materially different to the fair value and as such no revaluation has been made.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Trade debtors

6,800

-

6,800

-

 

East Harbour Property Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

58,584

Taxation and social security

 

27,100

9,079

Accruals and deferred income

 

1,051

1,001

 

28,151

68,664

Creditors include bank loans which are secured of £Nil (2023: £58,584).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

192,620

Creditors include bank loans which are secured of £Nil (2023: £192,620).

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1

100

100

100

100

Ordinary B of £1

800,000

800,000

600,000

600,000

 

800,100

800,100

600,100

600,100

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

58,584

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

192,620