Company Registration No. 13034462 (England and Wales)
Eastwood Farm (East Sussex) Limited
Unaudited accounts
for the year ended 31 December 2024
Eastwood Farm (East Sussex) Limited
Unaudited accounts
Contents
Eastwood Farm (East Sussex) Limited
Company Information
for the year ended 31 December 2024
Company Number
13034462 (England and Wales)
Registered Office
A and L, Suite 1 TO 3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
ENGLAND
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Eastwood Farm (East Sussex) Limited
Accountants' report
Accountants' report to the director of Eastwood Farm (East Sussex) Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Eastwood Farm (East Sussex) Limited for the year ended
31 December 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Eastwood Farm (East Sussex) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Eastwood Farm (East Sussex) Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eastwood Farm (East Sussex) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Eastwood Farm (East Sussex) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eastwood Farm (East Sussex) Limited. You consider that Eastwood Farm (East Sussex) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Eastwood Farm (East Sussex) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
25 July 2025
Eastwood Farm (East Sussex) Limited
Statement of financial position
as at 31 December 2024
Tangible assets
4,827,955
4,251,291
Cash at bank and in hand
(3,410)
1,475
Creditors: amounts falling due within one year
(1,263,476)
(1,302,489)
Net current liabilities
(958,384)
(1,112,590)
Total assets less current liabilities
3,869,571
3,138,701
Creditors: amounts falling due after more than one year
(2,502,980)
(1,881,250)
Net assets
1,366,591
1,257,451
Called up share capital
2
2
Revaluation reserve
1,388,436
1,388,436
Profit and loss account
(21,847)
(130,987)
Shareholders' funds
1,366,591
1,257,451
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2025 and were signed on its behalf by
Mr N Nichols
Director
Company Registration No. 13034462
Eastwood Farm (East Sussex) Limited
Notes to the Accounts
for the year ended 31 December 2024
Eastwood Farm (East Sussex) Limited is a private company, limited by shares, registered in England and Wales, registration number 13034462. The registered office is A and L, Suite 1 TO 3, The Hop Exchange, 24 Southwark Street, London, SE1 1TY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Straight line
Fixtures & fittings
10% Straight line
Computer equipment
25% Straight line
Land and Buildings is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Eastwood Farm (East Sussex) Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
3,930,519
80,865
308,590
727
4,320,701
Additions
587,231
8,500
17,133
-
612,864
At 31 December 2024
4,517,750
89,365
325,723
727
4,933,565
At 1 January 2024
-
7,210
61,836
364
69,410
Charge for the year
-
4,256
31,763
181
36,200
At 31 December 2024
-
11,466
93,599
545
105,610
At 31 December 2024
4,517,750
77,899
232,124
182
4,827,955
At 31 December 2023
3,930,519
73,655
246,754
363
4,251,291
Carrying amount of land and buildings on cost basis
3,087,889
2,546,335
A valuation was undertaken on 30th August 2022 by Batcheller Monkhouse. This valuation was based on Eastwood Observatory and valued the property at £3,750,000.
Amounts falling due within one year
Trade debtors
158,700
95,272
Deferred tax asset
131,787
77,534
Other debtors
18,015
15,618
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
11,931
16,174
Amounts owed to group undertakings and other participating interests
112,051
44,274
Taxes and social security
7,262
3,842
Other creditors
12,679
217
Loans from directors
840,288
1,059,716
Deferred income
249,033
171,544
Eastwood Farm (East Sussex) Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,281,250
1,881,250
Loans from directors
221,730
-
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
At the balance sheet date. the following transactions occurred with related parties:
Within creditors is an interest free loan totalling £909,624 ( 2023 : £1,059,715 ) from a shareholder which is expected to be paid steadily over a 10 year term.
Within other debtors is amounts owed from related parties totalling £0 ( 2023 : £36,436 ).
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).