Registration number:
Easternhill Estates Ltd
for the Year Ended 31 March 2025
Easternhill Estates Ltd
Contents
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Company Information |
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Strategic Report |
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Chairman's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Easternhill Estates Ltd
Company Information
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Chairman |
Mr R J Lake OBE |
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Registered office |
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Auditors |
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Easternhill Estates Ltd
Strategic Report for the Year Ended 31 March 2025
The chairman presents his strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is the ownership and rental of property.
Fair review of the business
The results of the company for the year ended 31 March 2025 are as disclosed in the attached financial statements.
The loss for the financial year ended 31 March 2025 was £40,096 (2024; Profit £1,019,000).
Principal risks and uncertainties
The key financial risks and uncertainties facing the company are set out below.
The director feels that the company's risk remains the commitment to the on-going lease payments with the potential to lose the source of income, the rent received, from the property.
Section 172(1) statement
The directors of the company have paid due regard to their responsibilities under Section 172(1) of the Companies Act 2006, in so much as producing budgets and forecasts which consider any long term consequences of any decision, and the potential impact on the community and the environment.
Employees are consulted regularly to ensure the impact of any decisions made are considered, thus promoting fairness between the members of the company.
All business relationships are closely monitored by the director, and as such the company maintains a reputation for high standards of business conduct.
Approved and authorised by the
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Easternhill Estates Ltd
Chairman's Report for the Year Ended 31 March 2025
The chairman presents his report and the financial statements for the year ended 31 March 2025.
Chairman of the company
The chairman who held office during the year was as follows:
Financial Instruments
Objectives and policies
The key financial risks and uncertainties facing the company are set out below.
The director feels that the company has a good mix of business activities and is well-balanced to handle the risks and uncertainties that it may face.
Environmental matters
Greenhouse gas emissions
The company has not disclosed the UK annual quantity of energy consumed resulting from the purchase of electricity by the company for its own use, including for the purposes of transport because its annual consumption is less than 40,000 kWh.
Going concern
The accounts are prepared on a going concern basis.
Disclosure of information to the auditors
The chairman has taken steps that he ought to have taken as a chairman in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The chairman confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Reappointment of auditors
The auditors Bissell & Brown Midlands Ltd are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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Easternhill Estates Ltd
Statement of Director's Responsibilities
The chairman acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the chairman to prepare financial statements for each financial year. Under that law the chairman has 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 chairman must not approve the financial statements unless he is 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 chairman is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The chairman is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Easternhill Estates Ltd
Independent Auditor's Report to the Members of Easternhill Estates Ltd
Opinion
We have audited the financial statements of Easternhill Estates Ltd (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 Reduced Financial Disclosure - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the chairman's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the chairman with respect to going concern are described in the relevant sections of this report.
Other information
The chairman are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Chairman's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Chairman's Report have been prepared in accordance with applicable legal requirements. |
Easternhill Estates Ltd
Independent Auditor's Report to the Members of Easternhill Estates Ltd (continued)
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Chairman's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of chairman's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the chairman
As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the chairman is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the chairman determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the chairman is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the chairman either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Based on our understanding of the Company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to breaches of UK and European regulatory principles, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. |
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We also considered those laws and regulations that have a direct impact on the financial statements of the Company, such as the Companies Act 2006 and UK tax legislation and equivalent local laws and regulations applicable to in-scope components. |
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We have also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements including the risk of override of controls and determined that the principal risks are related to management bias in accounting estimates and judgemental areas of the financial statements. |
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Audit procedures performed by the engagement team included: |
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discussions with the Board of Directors and management, regarding consideration of known or suspected instances of non-compliance with laws and regulation and fraud |
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evaluation and testing of the operating effectiveness of management's controls designed to prevent and detect irregularities; |
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reviewing relevant meeting minutes including those of the Board of Directors; |
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identifying and testing journal entries based on risk criteria; |
Easternhill Estates Ltd
Independent Auditor's Report to the Members of Easternhill Estates Ltd (continued)
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We designed our audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; and testing transactions entered into outside of the normal course of the Company's business specifically in respect of acquisitions and disposals.
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control; |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control; |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Charter House
56 High Street
West Midlands
B72 1UJ
Easternhill Estates Ltd
Profit and Loss Account for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
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Gross profit/(loss) |
- |
- |
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Administrative expenses |
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( |
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Operating (loss)/profit |
(40,096) |
1,019,226 |
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(Loss)/profit before tax |
( |
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(Loss)/profit for the financial year |
( |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Easternhill Estates Ltd
Statement of Comprehensive Income for the Year Ended 31 March 2025
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2025 |
2024 |
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(Loss)/profit for the year |
( |
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Total comprehensive income for the year |
( |
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Easternhill Estates Ltd
(Registration number: 05870737)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
- |
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Net current (liabilities)/assets |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
284,235 |
324,331 |
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Shareholders' funds |
284,335 |
324,431 |
Approved and authorised by the
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Easternhill Estates Ltd
Statement of Changes in Equity for the Year Ended 31 March 2025
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Share capital |
Retained earnings |
Total |
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At 1 April 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2024 |
100 |
324,331 |
324,431 |
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Share capital |
Retained earnings |
Total |
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At 1 April 2024 |
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Loss for the year |
- |
( |
( |
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At 31 March 2025 |
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Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Schiphol House
Schiphol Way
Humberside Airport
Kirmington
North East Lincolnshire
DN39 6YH
These financial statements were authorised for issue by the
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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 101 Reduced Financial Disclosure - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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 sterling which is the functional currency of the company and rounded to the nearest £1.
Summary of disclosure exemptions
The Company’s parent undertaking, Orient Industrial Holdings Limited includes the Company in its consolidated financial statements. The consolidated financial statements of Orient Industrial Holdings Limited are prepared in accordance with FRS 102 and are available to the public and may be obtained from the address given in note 23. In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS and has applied the exemptions available under FRS 101 in respect of the following disclosures:
• Reconciliation of the number of shares outstanding from the beginning to end of the period;
• Cash Flow Statement and related notes; and
• Key Management Personnel compensation
• Related party transactions.
Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
Going concern
The accounts are prepared on a going concern basis, as at the date of this report,
Revenue recognition
Turnover comprises the revenue receivable from property rental. 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.
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:
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Asset class |
Depreciation method and rate |
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Long leasehold property |
duration of lease |
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Portable buildings |
2-25% per annum |
Investment property
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 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.
Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
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.
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.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Rental income |
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Operating (loss)/profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Profit on disposal of property, plant and equipment |
- |
( |
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Staff costs |
The average number of persons employed by the company (including the chairman) during the year, analysed by category was as follows:
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2025 |
2024 |
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Administration and support |
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Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Taxation |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK of
The differences are reconciled below:
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2025 |
2024 |
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(Loss)/profit before tax |
( |
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Corporation tax at standard rate |
( |
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Tax increase/(decrease) from effect of capital allowances and depreciation |
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( |
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Effect of tax losses |
- |
( |
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Tax increase from effect of unrelieved tax losses carried forward |
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- |
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Tax decrease arising from group relief |
- |
( |
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Further item of tax increase |
- |
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Total tax charge/(credit) |
- |
- |
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Investment property |
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Investment properties |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Creditors |
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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- |
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Amounts due to related parties |
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- |
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- |
Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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8 |
Creditors (continued) |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank overdrafts |
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- |
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2025 |
2024 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
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Contingent liabilities |
The company is part of a group VAT scheme and is jointly liable for any group VAT liability. At the balance sheet date the group/company had no liability (2024 - £Nil).
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Rights, preferences and restrictions
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Ordinary shares have the following rights, preferences and restrictions: |
Easternhill Estates Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Parent and ultimate parent undertaking |
The ultimate parent is
These financial statements are available upon request from The parent undertaking of the largest group in which the results of the Company are consolidated is that also headed by Orient Industrial Holdings Limited. No other group financial statements include the results of the Company.
Copies of the Orient Industrial Holdings Limited consolidated financial statements are available from Companies House, registered number 11972429.