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Eastmawes Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 October 2024

Registration number: 04464603

 

Eastmawes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Eastmawes Limited

Company Information

Directors

Mr D Holman

Mr M P Willson

Ms K M Holman

Mr J R Holman

Mrs E C Walton

Company secretary

Mr M P Willson

Registered office

Manor Office
The Square
St Mawes
Truro
Cornwall
TR2 5AG

Accountants

Francis Clark LLP
Chartered Accountants
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

 

Eastmawes Limited

Balance Sheet

31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,679

5,478

Current assets

 

Debtors

5

50,260

57,235

Cash at bank and in hand

 

140,875

317,577

 

191,135

374,812

Creditors: Amounts falling due within one year

6

(36,900)

(50,891)

Net current assets

 

154,235

323,921

Total assets less current liabilities

 

160,914

329,399

Creditors: Amounts falling due after more than one year

6

(6,449)

(15,631)

Provisions for liabilities

(1,369)

(1,370)

Net assets

 

153,096

312,398

Capital and reserves

 

Called up share capital

7

250

250

Share premium reserve

13,550

13,550

Profit and loss account

139,296

298,598

Shareholders' funds

 

153,096

312,398

 

Eastmawes Limited

Balance Sheet

31 October 2024

For the financial year ending 31 October 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 March 2025 and signed on its behalf by:
 

.........................................
Mr D Holman
Director

Company Registration Number: 04464603

 

Eastmawes Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 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:
Manor Office
The Square
St Mawes
Truro
Cornwall
TR2 5AG

These financial statements were authorised for issue by the Board on 9 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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

Tax is recognised in profit or loss, 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 corporation 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.

 

Eastmawes Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are substantially carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using effective interest method.



 

 

Eastmawes Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

39,534

39,534

At 31 October 2024

39,534

39,534

Depreciation

At 1 November 2023

32,033

32,033

Charge for the year

822

822

At 31 October 2024

32,855

32,855

Carrying amount

At 31 October 2024

6,679

6,679

At 31 October 2023

5,478

5,478

 

Eastmawes Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

5

Debtors

2024
£

2023
£

Trade debtors

32,698

56,835

Prepayments

5,524

400

Other debtors

12,038

-

50,260

57,235

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

3,493

3,684

Corporation tax

 

-

12,038

Taxation and social security

 

10,818

22,354

Accruals and deferred income

 

2,853

2,815

Other creditors

 

9,736

-

 

36,900

50,891

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6,449

15,631

 

Eastmawes Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Allotted, called up and fully paid of £1 each

250

250

250

250