Registration number: NI009153

Eastwood Fleet Services Limited

Contents

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

Eastwood Fleet Services 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 Auditors 27 College Gardens Belfast BT9 6BS

Eastwood Fleet Services 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. 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 Fleet Services Limited

(Registration number: NI009153)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	802,787	843,630
Current assets
Stocks	5	82,847	85,780
Debtors	6	225,862	331,930
Cash at bank and in hand		43,785	75,520
		352,494	493,230
Creditors: Amounts falling due within one year	7	(423,908)	(517,560)
Net current liabilities		(71,414)	(24,330)
Total assets less current liabilities		731,373	819,300
Provisions for liabilities		(69,930)	(77,324)
Net assets		661,443	741,976
Capital and reserves
Called up share capital		500,000	500,000
Revaluation reserve		632,564	632,564
Profit and loss account		(471,121)	(390,588)
Total equity		661,443	741,976

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 Fleet Services 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 the United Kingdom.

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.

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.

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.

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.

Eastwood Fleet Services Limited

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

2	Accounting policies (continued)

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
Land and buildings	2% straight line
Plant and machinery	15% reducing balance
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Eastwood Fleet Services 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.

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 11 (2023 - 11).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2024	663,000	161,218	54,930	419,027	1,298,175
Additions	-	1,425	-	-	1,425
At 31 December 2024	663,000	162,643	54,930	419,027	1,299,600
Depreciation
At 1 January 2024	10,170	137,362	31,830	275,183	454,545
Charge for the year	10,572	6,514	5,028	20,154	42,268
At 31 December 2024	20,742	143,876	36,858	295,337	496,813
Carrying amount
At 31 December 2024	642,258	18,767	18,072	123,690	802,787
At 31 December 2023	652,830	23,856	23,100	143,844	843,630

Revaluation

Eastwood Fleet Services Limited

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

4	Tangible assets (continued)

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. The name and qualification of the independent valuer are .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £442,023 (2023 - £452,595).

5

Stocks

	2024 £	2023 £
Work in progress	67,087	62,619
Other inventories	15,760	23,161
	82,847	85,780

6

Debtors

	2024 £	2023 £
Trade debtors	146,666	248,218
Amounts owed by group undertakings and undertakings in which the company has a participating interest	52,029	61,976
Prepayments and accrued income	23,512	21,736
Other debtors	3,655	-
	225,862	331,930

7

Creditors

	2024 £	2023 £
Due within one year
Trade creditors	100,699	140,198
Amounts owed to group undertakings and undertakings in which the company has a participating interest	280,000	330,000
Taxation and social security	40,188	44,550
Other creditors	1,021	812
Accruals and deferred income	2,000	2,000
	423,908	517,560

8	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.

Eastwood Fleet Services Limited

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

9	Parent and ultimate parent undertaking

Eastwood Fleet Services 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.