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Registration number: NI631132

Eastwood Envirowaste (Newtownabbey) Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Eastwood Envirowaste (Newtownabbey) Limited

Contents

Company Information | 1
Statement of Directors' Responsibilities | 2
Balance Sheet | 3
Notes to the Financial Statements | 4 to 8

Eastwood Envirowaste (Newtownabbey) Limited

Company Information

Directors | Mrs Suzanne Eastwood Mr John M Eastwood

Registered office | 137 Shore Road Newtownabbey Co. Antrim BT37 9SY

Solicitors | McEvoy Sheridan Solicitors 344 Ormeau Road Belfast BT7 2HL

Auditors | McKeague Morgan & Company Chartered Accountants & Statutory Auditors27 College Gardens Belfast BT9 6BS

Eastwood Envirowaste (Newtownabbey) Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Eastwood Envirowaste (Newtownabbey) Limited

(Registration number: NI631132)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 1,289,800 | 1,287,035
Current assets |  |  |
Debtors | 5 | 75,900 | 73,070
Creditors: Amounts falling due within one year | 6 | (777,778) | (703,071)
Net current liabilities |  | (701,878) | (630,001)
Total assets less current liabilities |  | 587,922 | 657,034
Provisions for liabilities |  | (172,449) | (171,758)
Net assets |  | 415,473 | 485,276
Capital and reserves |  |  |
Called up share capital |  | 200 | 200
Revaluation reserve |  | 687,000 | 687,000
Profit and loss account |  | (271,727) | (201,924)
Total equity |  | 415,473 | 485,276

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 8 October 2025 and signed on its behalf by:

.........................................

Mrs Suzanne Eastwood
Director

Eastwood Envirowaste (Newtownabbey) Limited

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

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
137 Shore Road
Newtownabbey
Co. Antrim
BT37 9SY

These financial statements were authorised for issue by the Board on 8 October 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.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continued support of other group companies.
The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available. Other group companies will provide any finance required to enable the company to pay its debts as they fall due.
On this basis, the directors consider that it is appropriate to prepare the financial statements on a going concern basis.

Audit report

The Independent Auditors' Report was unqualified and the auditor did not draw attention to any matters by way of emphasis. The name of the Senior Statutory Auditor who signed the audit report on 8 October 2025 was Mr Terence Hollywood, who signed for and on behalf of McKeague Morgan & Company.

Eastwood Envirowaste (Newtownabbey) Limited

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

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
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.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Eastwood Envirowaste (Newtownabbey) Limited

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

2 | Accounting policies (continued)

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Eastwood Envirowaste (Newtownabbey) Limited

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

4 | Tangible assets

| Land and buildings £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 1,287,000 | 12,406 | 1,299,406
Additions | - | 3,055 | 3,055
At 31 December 2024 | 1,287,000 | 15,461 | 1,302,461
Depreciation
At 1 January 2024 | - | 12,371 | 12,371
Charge for the year | - | 290 | 290
At 31 December 2024 | - | 12,661 | 12,661
Carrying amount
At 31 December 2024 | 1,287,000 | 2,800 | 1,289,800
At 31 December 2023 | 1,287,000 | 35 | 1,287,035

Revaluation

The fair value of the company's land and buildings were revalued on 21 September 2022 by professional independent valuers, Savills (UK) Limited, a subsidiary of Savills Plc.
The Valuations were prepared on the basis of Market Value in accordance with the RICS Valuation – Global Standards (Incorporating the IVSC International Valuation Standards) (the “Red Book”) prepared by the Royal Institution of Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £600,000 (2023 - £600,000).

5 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 7,264 | 11,167
Amounts owed by group companies | 9 | 60,795 | 61,330
Prepayments and accrued income |  | 4,904 | -
Other debtors |  | 2,937 | 573
|  | 75,900 | 73,070

Eastwood Envirowaste (Newtownabbey) Limited

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

6 | Creditors

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Bank loans and overdrafts | 8 | 65,466 | 10,846
Trade creditors |  | 10,309 | 1,586
Amounts owed to group companies | 9 | 698,154 | 689,858
Accruals and deferred income |  | 3,849 | 781
|  | 777,778 | 703,071

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 200 | 200 | 200 | 200

8 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank overdrafts | 65,466 | 10,846

9 | Related party transactions

The directors have taken advantage of the exemption from disclosing related party transactions with other wholly owned group companies, in accordance with FRS102.

10 | Parent and ultimate parent undertaking

Eastwood Envirowaste (Newtownabbey) Limited is a 100% owned subsidiary of Eastwood Group Holdings Limited.
The company's immediate parent is Eastwood Group Holdings Limited, incorporated in Northern Ireland.
The ultimate controlling party is Mrs Suzanne Eastwood.