Eastland House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01597635 (England and Wales)

Unaudited Financial Statements For The Year Ended 31st March 2019

for

Eastland House Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C R Swain Mason

SECRETARY:

N Mason

REGISTERED OFFICE:

High Beech

Short Tree Lane

Harpley

King's Lynn

Norfolk

PE31 6TP

REGISTERED NUMBER:

01597635 (England and Wales)

ACCOUNTANTS:

Aston Shaw Limited

11 King Street

King's Lynn

Norfolk

PE30 1ET

FIXED ASSETS

Investment property

3

350,000

350,000

CURRENT ASSETS

Debtors

4

20

17

Cash at bank

3,049

54

3,069

71

CREDITORS

Amounts falling due within one year

5

48,396

53,816

NET CURRENT LIABILITIES

(45,327

)

(53,745

)

TOTAL ASSETS LESS CURRENT LIABILITIES

304,673

296,255

CREDITORS

Amounts falling due after more than one year

6

-

(5,615

)

PROVISIONS FOR LIABILITIES

9

(27,533

)

(27,533

)

NET ASSETS

277,140

263,107

CAPITAL AND RESERVES

Called up share capital

10

74

74

Fair value reserve

11

203,248

203,248

Retained earnings

11

73,818

59,785

SHAREHOLDERS' FUNDS

277,140

263,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14th December 2019 and were signed by:

Mrs C R Swain Mason - Director

1.	STATUTORY INFORMATION

Eastland House Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The financial statements have been prepared on the going concern basis. The director considers this basis to be

appropriate but has not assessed a period in excess of 12 months from the date of approving the accounts.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2018

and 31st March 2019

350,000

NET BOOK VALUE

At 31st March 2019

350,000

At 31st March 2018

350,000

Fair value at 31st March 2019 is represented by:

£

Valuation in 2017

204,609

Cost

145,391

350,000

If the investment property had not been revalued it would have been included at the following historical cost:

31/3/19

31/3/18

£

£

Cost

145,391

145,391

Aggregate depreciation

29,080

29,080

The investment property was valued on an open market basis on 31st March 2017 by the director .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Prepayments and accrued income

20

17

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Bank loans and overdrafts (see note 7)

5,392

13,907

Corporation tax

3,292

2,207

Social security and other taxes

1,153

363

Accruals

1,252

2,379

Director's current account

37,307

34,960

48,396

53,816

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/19

31/3/18

£

£

Bank loans (see note 7)

-

5,615

7.

LOANS

An analysis of the maturity of loans is given below:

31/3/19

31/3/18

£

£

Amounts falling due within one year or on demand:

Bank loans

5,392

13,907

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

5,615

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/19

31/3/18

£

£

Bank loans

5,392

19,522

The bank loan is secured against The Old Bakery, Church Street, Hunstanton, Norfolk.

9.	PROVISIONS FOR LIABILITIES

31/3/19

31/3/18

£

£

Deferred tax

27,533

27,533

Deferred

tax

£

Balance at 1st April 2018

27,533

Balance at 31st March 2019

27,533

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

74

Ordinary

£1

74

74

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st April 2018

59,785

203,248

263,033

Profit for the year

14,033

14,033

At 31st March 2019

73,818

203,248

277,066

12.	RELATED PARTY DISCLOSURES