Registration number:
Eastbrook Properties Limited
for the Year Ended 30 September 2024
Eastbrook Properties Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Eastbrook Properties Limited
Company Information
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Directors |
Mr GM Sheppard Mrs SE Sheppard Mr TG Sheppard Ms JJ Sheppard Ms NS Sheppard |
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Registered office |
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Accountants |
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Eastbrook Properties Limited
(Registration number: 00490115)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Eastbrook Properties Limited
(Registration number: 00490115)
Balance Sheet as at 30 September 2024
Approved and authorised by the
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Eastbrook Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
15% reducing balance |
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Computers |
33% reducing balance |
Investment property
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Eastbrook Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Investment properties |
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2024 |
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At 1 October |
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At 30 September |
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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
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Investments |
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2024 |
2023 |
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Investments in associates |
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Associates |
£ |
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Cost |
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At 1 October 2023 |
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Provision |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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Current |
2024 |
2023 |
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Prepayments |
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Other debtors |
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( |
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Eastbrook Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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3,012 |
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3,012 |
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
55,500 |
55,500 |
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Eastbrook Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Related party transactions |
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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.