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COMPANY REGISTRATION NUMBER: 07716521
Eastern Frames UK Limited
Filleted Unaudited Financial Statements
31 March 2025
Eastern Frames UK Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
7
553,797
334,878
Current assets
Stocks
82,000
75,000
Debtors
8
1,060,840
1,059,205
Cash at bank and in hand
839,343
783,177
------------
------------
1,982,183
1,917,382
Creditors: amounts falling due within one year
9
843,692
747,197
------------
------------
Net current assets
1,138,491
1,170,185
------------
------------
Total assets less current liabilities
1,692,288
1,505,063
Creditors: amounts falling due after more than one year
10
153,509
119,239
Provisions
Taxation including deferred tax
105,394
49,935
------------
------------
Net assets
1,433,385
1,335,889
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,433,285
1,335,789
------------
------------
Shareholders funds
1,433,385
1,335,889
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eastern Frames UK Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
Mr A Boyle Mr D Boyle
Director Director
Company registration number: 07716521
Eastern Frames UK Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21-22 Regal Road, WIsbech, Cambs, PE132RQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 and other third parties and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 10 (2024: 13 ).
5. Security
Barclays Bank PLC hold a charge over the freehold property as well as a floating charge over the assets of the company.
6. Intangible assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
20,000
--------
Amortisation
At 1 April 2024 and 31 March 2025
20,000
--------
Carrying amount
At 31 March 2025
--------
At 31 March 2024
--------
7. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
145,801
65,137
9,128
406,636
626,702
Additions
7,125
333,936
341,061
Disposals
( 84,000)
( 84,000)
---------
--------
-------
---------
---------
At 31 March 2025
145,801
72,262
9,128
656,572
883,763
---------
--------
-------
---------
---------
Depreciation
At 1 April 2024
11,664
26,547
7,426
246,187
291,824
Charge for the year
2,916
10,223
1,126
93,533
107,798
Disposals
( 69,656)
( 69,656)
---------
--------
-------
---------
---------
At 31 March 2025
14,580
36,770
8,552
270,064
329,966
---------
--------
-------
---------
---------
Carrying amount
At 31 March 2025
131,221
35,492
576
386,508
553,797
---------
--------
-------
---------
---------
At 31 March 2024
134,137
38,590
1,702
160,449
334,878
---------
--------
-------
---------
---------
8. Debtors
2025
2024
£
£
Trade debtors
185,023
159,933
Other debtors
875,817
899,272
------------
------------
1,060,840
1,059,205
------------
------------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,500
5,500
Trade creditors
486,893
434,184
Social security and other taxes
6,090
6,281
Other creditors
345,209
301,232
---------
---------
843,692
747,197
---------
---------
10. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
62,351
68,997
Other creditors
91,158
50,242
---------
---------
153,509
119,239
---------
---------
11. Commitments under operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
56,657
Later than 1 year and not later than 5 years
149,972
----
---------
206,629
----
---------
12. Related party transactions
Included in other debtors is a loan to Eastern Estates Ltd, a company incorporated in England and Wales. The directors and shareholders of Eastern Frames Ltd are the same as Eastern Estates Ltd. The loan is interest-free, and repayable on demand. At the year-end, the balance outstanding was £514,044 (2024 £530,772). Included in other debtors is a loan to Eastern Commercial Properties Ltd, a company incorporated in England and Wales. The directors and shareholders of Eastern Frames Ltd are the same as Eastern Commercial Properties Ltd. The loan is interest-free, and repayable on demand. At the year-end, the balance outstanding was £276,321 (2024 £275,095).