Registration number: 00722656

Eastplace Property Co Limited

Contents

Company Information	1
Profit and Loss Account and Statement of Retained Earnings	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Eastplace Property Co Limited

Company Information

Directors

Mr N G Budibent Mrs L H Webber

Company secretary

Mrs L H Webber

Registered office

Bishop House 10 Wheat Street Brecon Powys LD3 7DG

Bankers

Santander UK plc Bridle Road Bootle Merseyside L30 4GB

Accountants

W J James & Co Bishop House 10 Wheat Street Brecon Powys LD3 7DG

Eastplace Property Co Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Turnover		21,799	19,389
Administrative expenses		(19,345)	(18,996)
Operating profit		2,454	393
Other interest receivable and similar income		4,936	10,874
Interest payable and similar charges		(7,625)	(13,862)
		(2,689)	(2,988)
Loss before tax		(235)	(2,595)
Taxation		-	1,640
Loss for the financial year		(235)	(955)
Retained earnings brought forward		540,438	561,393
Dividends paid		(20,000)	(20,000)
Retained earnings carried forward		520,203	540,438

Eastplace Property Co Limited

(Registration number: 00722656)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	330,273	330,273
Current assets
Debtors	5	2,224	2,190
Cash at bank and in hand		442,589	433,593
		444,813	435,783
Creditors: Amounts falling due within one year	6	(187,097)	(157,832)
Net current assets		257,716	277,951
Total assets less current liabilities		587,989	608,224
Provisions for liabilities		(22,465)	(22,465)
Net assets		565,524	585,759
Capital and reserves
Called up share capital		200	200
Capital redemption reserve		5,588	5,588
Other reserves		39,533	39,533
Retained earnings		520,203	540,438
Shareholders' funds		565,524	585,759

For the financial year ending 31 December 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.

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:
 

Eastplace Property Co Limited

(Registration number: 00722656)
Balance Sheet as at 31 December 2024

......................................... Mr N G Budibent Director

Eastplace Property Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
United Kingdom

The principal place of business is:
Compass House
Netting Street
Hook Norton
Oxfordshire
OX15 5NP
United Kingdom

These financial statements were authorised for issue by the Board on 17 September 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.

The financial statements are presented in pounds sterling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the rent received or receivable for the letting of the company's investment properties in the ordinary course of its activities.

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.

Eastplace Property Co Limited

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

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tax

The tax expense for the period comprises 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.

Investment property

Investment property is included at fair value. Gains are recognised in the fair value reserve. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

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

Trade debtors

Trade debtors are amounts due from tenants for rent arising in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Stocks

Stocks represents the cost incurred to date on a property in France that the company has purchased and improved and is now seeking to sell. The directors consider that the market value of the property is in excess of its carrying value.

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 at the transaction price.

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.

Eastplace Property Co Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received.

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 3 (2023 - 2).

4	Investment properties

	2024 £
At 1 January	330,273
At 31 December	330,273

The company owns freehold investment properties at 46 Woodbridge Road, Guildford and Flat 2 snd 9, 3 West Street, Chipping Norton. These properties were valued on an open market basis on 31 December 2022 by the directors. If the properties had not been revalued they would have been included at their historical cost of £290,739.

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

5

Debtors

Current	2024 £	2023 £
Prepayments	65	56
Other debtors	2,159	2,134
	2,224	2,190

Eastplace Property Co Limited

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

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	152,000	152,000
Accruals and deferred income		3,665	5,136
Other creditors		31,432	696
		187,097	157,832

Creditors include loans from the directors of £152,000. These are repayable on demand and carry interest at 6% per annum.

7	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Other borrowings	152,000	152,000

Other borrowings

Loan from directors is denominated in pounds sterling with a nominal interest rate of 10%. The carrying amount at year end is £Nil (2023 - £Nil).

8

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £100.00 per each Ordinary		20,000		20,000