ACCOUNTS - Final Accounts preparation

Registered number: NI658223

East (No1) Limited

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 January 2025

East (No1) Limited

Registered number: NI658223

Balance Sheet

As at 31 January 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		1,150,000		1,150,000
			1,150,000		1,150,000
Current assets
Debtors: amounts falling due after more than one year	5	1,837,000		967,000
Cash at bank and in hand	6	371		2,748
		1,837,371		969,748
Creditors: amounts falling due within one year	7	(55,280)		(54,860)
Net current assets			1,782,091		914,888
Total assets less current liabilities			2,932,091		2,064,888
Creditors: amounts falling due after more than one year	8		(2,955,100)		(2,084,939)

Net liabilities			(23,009)		(20,051)

Capital and reserves
Called up share capital	9	1	1
Profit and loss account		(23,010)	(20,052)
		(23,009)	(20,051)

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East (No1) Limited

Registered number: NI658223

Balance Sheet (continued)

As at 31 January 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2025.

Mr Mark Glenfield

Director

The notes on pages 3 to 5 form part of these financial statements.

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East (No1) Limited

Notes to the Financial Statements

For the Year Ended 31 January 2025

1.	General information

East (No1) Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have reviewed the resources available to the company and believe that it has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

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East (No1) Limited

Notes to the Financial Statements

For the Year Ended 31 January 2025

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 February 2024	1,150,000
	At 31 January 2025	1,150,000

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

Glentoran Recreation Company, Limited

The Oval, Parkgate Drive, Belfast, BT4 1EW

100%

5.	Debtors
		2025	2024
		£	£

Due after more than one year
Amounts owed by group undertakings	1,837,000	967,000
	1,837,000	967,000

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	371	2,748
	371	2,748

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East (No1) Limited

Notes to the Financial Statements

For the Year Ended 31 January 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	50,000	50,000
Accruals and deferred income	5,280	4,860
	55,280	54,860

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other creditors	2,955,100	2,084,939
	2,955,100	2,084,939

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

10.	Related party transactions
	At the year end, there are amounts owing to the company from related parties of £1,837,000 and amounts owed to related parties by the company of £50,000. These balances are interest-free, unsecured and are conducted in the normal course of business.

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