5 5 Eastbrook Properties Limited 00490115 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of property letting and development. Digita Accounts Production Advanced 6.30.9574.0 true 00490115 2023-10-01 2024-09-30 00490115 2024-09-30 00490115 bus:OrdinaryShareClass1 2024-09-30 00490115 core:RetainedEarningsAccumulatedLosses 2024-09-30 00490115 core:ShareCapital 2024-09-30 00490115 core:CurrentFinancialInstruments 2024-09-30 00490115 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 00490115 core:FurnitureFittingsToolsEquipment 2024-09-30 00490115 bus:SmallEntities 2023-10-01 2024-09-30 00490115 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 00490115 bus:FilletedAccounts 2023-10-01 2024-09-30 00490115 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 00490115 bus:RegisteredOffice 2023-10-01 2024-09-30 00490115 bus:Director1 2023-10-01 2024-09-30 00490115 bus:Director2 2023-10-01 2024-09-30 00490115 bus:Director3 2023-10-01 2024-09-30 00490115 bus:Director4 2023-10-01 2024-09-30 00490115 bus:Director5 2023-10-01 2024-09-30 00490115 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 00490115 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00490115 bus:Agent1 2023-10-01 2024-09-30 00490115 core:ComputerEquipment 2023-10-01 2024-09-30 00490115 core:FurnitureFittings 2023-10-01 2024-09-30 00490115 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 00490115 countries:EnglandWales 2023-10-01 2024-09-30 00490115 2023-09-30 00490115 core:CostValuation 2023-09-30 00490115 core:FurnitureFittingsToolsEquipment 2023-09-30 00490115 2022-10-01 2023-09-30 00490115 2023-09-30 00490115 bus:OrdinaryShareClass1 2023-09-30 00490115 core:RetainedEarningsAccumulatedLosses 2023-09-30 00490115 core:ShareCapital 2023-09-30 00490115 core:CurrentFinancialInstruments 2023-09-30 00490115 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 00490115 core:FurnitureFittingsToolsEquipment 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 00490115

Eastbrook Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Eastbrook Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Eastbrook Properties Limited

Company Information

Directors

Mr GM Sheppard

Mrs SE Sheppard

Mr TG Sheppard

Ms JJ Sheppard

Ms NS Sheppard

Registered office

1 Blatchington Road
Hove
East Sussex
BN3 3YP

Accountants

Durston Gibb
Chartered Accountants1 Blatchington Road
Hove
East Sussex
BN3 3YP

 

Eastbrook Properties Limited

(Registration number: 00490115)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,163

1,670

Investment property

5

1,313,711

1,313,711

Investments

6

60,380

60,380

 

1,375,254

1,375,761

Current assets

 

Stocks

7

367,028

367,028

Debtors

8

(1,227)

38,439

Cash at bank and in hand

 

430,450

466,858

 

796,251

872,325

Creditors: Amounts falling due within one year

9

(97,550)

(208,533)

Net current assets

 

698,701

663,792

Total assets less current liabilities

 

2,073,955

2,039,553

Provisions for liabilities

(159,943)

(159,943)

Net assets

 

1,914,012

1,879,610

Capital and reserves

 

Called up share capital

10

3,012

3,012

Retained earnings

1,911,000

1,876,598

Shareholders' funds

 

1,914,012

1,879,610

For the financial year ending 30 September 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.

 

Eastbrook Properties Limited

(Registration number: 00490115)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 

.........................................
Mr GM Sheppard
Director

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
1 Blatchington Road
Hove
East Sussex
BN3 3YP
United Kingdom

These financial statements were authorised for issue by the Board on 20 June 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.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for properties sold or rental services provided in the normal course of business.

Revenue from the sale of properties is recognised when completion of the property sale has taken place and title has passed to the buyer.

Revenue from contracts for the provision of rental services is recognised by reference to the period to which the rent relates.

Tax

The tax expense for the period comprises current tax and is recognised in profit or loss.

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss acccount, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

Tangible assets

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Computers

33% reducing balance

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 Directors 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.

Investments

Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Cash and cash equivalents

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

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the #tErm5 to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity and 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

26,252

26,252

At 30 September 2024

26,252

26,252

Depreciation

At 1 October 2023

24,582

24,582

Charge for the year

507

507

At 30 September 2024

25,089

25,089

Carrying amount

At 30 September 2024

1,163

1,163

At 30 September 2023

1,670

1,670

5

Investment properties

2024
£

At 1 October

1,313,711

At 30 September

1,313,711

Investment property comprises freehold and long leasehold land and buildings. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2024 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

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

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Investments

2024
£

2023
£

Investments in associates

60,380

60,380

Associates

£

Cost

At 1 October 2023

60,380

Provision

Carrying amount

At 30 September 2024

60,380

At 30 September 2023

60,380

7

Stocks

2024
£

2023
£

Other inventories

367,028

367,028

8

Debtors

Current

2024
£

2023
£

Prepayments

1,686

2,092

Other debtors

(2,913)

36,347

 

(1,227)

38,439

 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

27,998

31,485

Accruals and deferred income

10,900

10,393

Other creditors

58,652

166,655

97,550

208,533

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

3,012

3,012

3,012

3,012

       

11

Dividends

2024

2023

£

£

Interim dividend of £55.50 (2023 - £55.50) per ordinary share

55,500

55,500

 

 
 

Eastbrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

12

Related party transactions

Other transactions with directors

Dividends totalling £55,500 (2023 - £55,500) were paid in the year in respect of shares held by the company's directors.

At the balance sheet date, the following outstanding balances susbsisted on loans from the directors: Mr G M Sheppard £8,959 (2023 - £52,292), Mrs S E Sheppard £20,377 (2023 - £20,429), Mr T Sheppard £3,637 (2023 - £11,057), Miss N S Sheppard £Nil (2023 - £1,833), Miss J J Sheppard £Nil (2023 - £1,834). These loans were all interest free and have been included in other creditors.

Included in other creditors is a balance of £38,360 (2023 - £38,360) owed to Coastal Holdings (SC) Limited, a company in which all of the directors are also directors. Coastal Holdings (SC) Limited owns 999 ordinary shares in the company which represents 33.17% of the issued share capital of the company..

Included in other debtors is a balance of £35,447 (2023 - £36,347) owed by Sea-Charter Properties Limited, a company in which all of the directors are also directors.

Included in other creditors is a balance of £Nil (2023 - £9,672) owed to the Sheppard Partnership, a business in which all of the Directors are partners.