Eastwillow Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04918404 (England and Wales)

Financial Statements for the Year Ended 31st October 2021

for

Eastwillow Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A K Tohani

V K Tohani

SECRETARY:

A K Tohani

REGISTERED OFFICE:

C/O City Chartered Accountants

540 5th Floor Linen Hall

162-168 Regent Street

London

W1B 5TF

REGISTERED NUMBER:

04918404 (England and Wales)

ACCOUNTANTS:

City, Chartered Accountants

Suite 540, 5th Floor,

Linen Hall

162- 168 Regent Street

London

W1B 5TF

FIXED ASSETS

Tangible assets

4

3,575

1,425

Investments

5

-

21

3,575

1,446

CURRENT ASSETS

Stocks

1,834,818

1,485,807

Debtors

6

570,186

1,166,476

Cash at bank

587,876

317,827

2,992,880

2,970,110

CREDITORS

Amounts falling due within one year

7

(2,137,136

)

(2,121,287

)

NET CURRENT ASSETS

855,744

848,823

TOTAL ASSETS LESS CURRENT LIABILITIES

859,319

850,269

CREDITORS

Amounts falling due after more than one year

8

(213,900

)

(272,510

)

NET ASSETS

645,419

577,759

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

10

97,819

97,819

Retained earnings

547,599

479,939

SHAREHOLDERS' FUNDS

645,419

577,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 26th July 2022 and were signed on its behalf by:

A K Tohani - Director

1.	STATUTORY INFORMATION

Eastwillow Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st November 2020

7,141

6,415

13,556

Additions

2,000

1,500

3,500

At 31st October 2021

9,141

7,915

17,056

DEPRECIATION

At 1st November 2020

5,716

6,415

12,131

Charge for year

975

375

1,350

At 31st October 2021

6,691

6,790

13,481

NET BOOK VALUE

At 31st October 2021

2,450

1,125

3,575

At 31st October 2020

1,425

-

1,425

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 1st November 2020

21

Disposals

(21

)

At 31st October 2021

-

NET BOOK VALUE

At 31st October 2021

-

At 31st October 2020

21

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Amounts owed by group undertakings

-

127,706

Amounts owed by associates

570,186

1,038,770

570,186

1,166,476

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

63,718

62,450

Trade creditors

129

-

Amounts owed to associates

55,446

-

Taxation and social security

21,282

30,129

Other creditors

1,996,561

2,028,708

2,137,136

2,121,287

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans

213,900

272,510

Amounts falling due in more than five years:

Repayable by instalments

Bank Loans

33,390

59,971

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.21

31.10.20

£

£

Bank loans

277,618

334,960

On 2 February 2004, a debenture in favour of the Bank of Scotland was created over the Company's properties and assets.

On 1 April 2004, a legal charge in favour of the Bank of Scotland was created over 71 Digby Road.

On 14 April 2005, a legal charge in favour of the Bank of Scotland was created over Flat 6, 157 Commercial Street and the Company's other properties and assets.

On 25 January 2006, a mortgage in favour of Lloyds TSB was created over Unit 8, Glenmore Business and the Company's other properties and assets.

On 6 June 2007, a mortgage in favour of Lloyds TSB was created over 91 Whitton Road and the Company's other properties and assets.

On 20 November 2009, debenture in favour of Lloyds TSB was created over the Company's properties and assets.

On 24 November 2009, a mortgage in favour of lloyds TSB was created over 55 Tower Hamlets Road and the Company's other properties and assets.

10.

RESERVES

Revaluatio

reserve

£

At 1st November 2020

and 31st October 2021

97,819

11.	RELATED PARTY DISCLOSURES

In 2007 the Company purchased a quarter share in Aldergale Estates Ltd for £1. Later that year a further 20 £1 shares were allotted to the Company. The director A K Tohani is also a director of Aldergale Estates Ltd. The Company lent £115,159 to Aldergale Estates Limited. The loan was repaid and accumulated profits paid during the year. Aldergale Estates Ltd was dissolved in May 2021.

The Company is a member of Frognal Partners LLP. The Company lent £174,832 to the LLP. At the year end the balance was £117,317 (2020: £115,382).

On behalf of the Company, A K Tohani was a partner in Basingstoke Skylight LLP. The Company lent £174,375 to the LLP. At the year end the balance was £249,735 (2020: £231,130).

On behalf of the Company, A K Tohani was a partner in Slough Skylight LLP. The Company lent £532,575 to the LLP. At the year end the loan had been repaid with the Company owing £55,446 (2020: DR £490,629).

On behalf of the Company, A K Tohani was a partner in Spondon Investments LLP. The Company lent £178,666 to the LLP. At the year end the balance was £203,134 (2020: £201,629).

At the year end, the Company owed the directors £1,950,233 (2020: £1,980,052).