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Registration number: 12826546

East Greenwich Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

East Greenwich Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

East Greenwich Investments Ltd

Company Information

Directors

Alexander Plummer

Claire Plummer

Registered office

10 Dupree Road
London
SE7 7RR

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

East Greenwich Investments Ltd

(Registration number: 12826546)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

225,000

222,222

Current assets

 

Debtors

6

169

164

Cash at bank and in hand

 

10,657

6,648

 

10,826

6,812

Creditors: Amounts falling due within one year

7

(94,908)

(94,150)

Net current liabilities

 

(84,082)

(87,338)

Total assets less current liabilities

 

140,918

134,884

Creditors: Amounts falling due after more than one year

7

(123,050)

(123,050)

Provisions for liabilities

(2,101)

(1,573)

Net assets

 

15,767

10,261

Capital and reserves

 

Called up share capital

9

2

2

Revaluation reserve

8,955

6,705

Retained earnings

6,810

3,554

Shareholders' funds

 

15,767

10,261

For the financial year ending 31 August 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.

 

East Greenwich Investments Ltd

(Registration number: 12826546)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
Alexander Plummer
Director

 

East Greenwich Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
10 Dupree Road
London
SE7 7RR

These financial statements were authorised for issue by the Board on 15 April 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

East Greenwich Investments Ltd

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

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;
the service is delivered. Rental income is apportioned on a pro-rata basis.

Tax

The tax expense for the period comprises current 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 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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

East Greenwich Investments Ltd

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

3

Staff numbers

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

 

East Greenwich Investments Ltd

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

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

1,086

369

Deferred tax

Tax relating to items recognised in other comprehensive income or equity

2024
£

2023
£

Deferred tax related to items recognised as items of equity

-

1,573

5

Investment properties

2024
£

At 1 September

222,222

Fair value adjustments

2,778

At 31 August

225,000

The directors have valued the investment property at the year end at £225,000 (2023: £222,222).

The mortgage is secured against the property.

6

Debtors

Current

2024
£

2023
£

Prepayments

169

164

 

169

164

 

East Greenwich Investments Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors loan account

11

9,935

9,935

Taxation and social security

 

1,085

369

Accruals and deferred income

 

1,038

996

Other creditors

 

82,850

82,850

 

94,908

94,150

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

123,050

123,050

8

Deferred tax and other provisions

Deferred tax
£

Total
£

At 1 September 2023

1,573

1,573

Increase (decrease) in existing provisions

528

528

At 31 August 2024

2,101

2,101

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

East Greenwich Investments Ltd

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

123,050

123,050

11

Related party transactions

Summary of transactions with other related parties

Alexander and Claire Plummer
(Directors and shareholders)
During the year the directors paid money into the company of £nil (2023: £nil) and received £nil (2023: £nil) from the company. At the balance sheet date the amount owed to the directors was £9,935 (2023: £9,935).

East Greenwich Medical Ltd
(A company of which Alexander and Claire Plummer are the directors and shareholders)

During the year East Greenwich Medical Ltd loaned the company £nil (2023: £nil). At the balance sheet date the amount owed to East Greewich Medical Ltd was £82,000 (2023: £82,000).

12

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

2,250

2,250

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(6,300)

(6,300)