Eastoak Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03378920

Unaudited Financial Statements for the Year Ended 31 May 2021

for

EASTOAK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Baldwin

SECRETARY:

J Baldwin

REGISTERED OFFICE:

Forge Farm

Bedgebury Road

Goudhurst

Kent

TN17 2QZ

REGISTERED NUMBER:

03378920

ACCOUNTANTS:

Riddingtons Ltd

The Old Barn

Off Wood Street

Swanley Village

Kent

BR8 7PA

FIXED ASSETS

Tangible assets

4

4,174,282

831,821

Investments

5

210,000

106,500

Investment property

6

1,100,000

855,302

5,484,282

1,793,623

CURRENT ASSETS

Debtors

7

330,297

195,830

Cash at bank

65,093

27,018

395,390

222,848

CREDITORS

Amounts falling due within one year

8

89,017

26,251

NET CURRENT ASSETS

306,373

196,597

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,790,655

1,990,220

CREDITORS

Amounts falling due after more than one
year

9

(2,084,907

)

(1,976,870

)

PROVISIONS FOR LIABILITIES

(714,173

)

(12,948

)

NET ASSETS

2,991,575

402

CAPITAL AND RESERVES

Called up share capital

2

Fair value reserve

10

2,984,463

-

Retained earnings

7,110

400

SHAREHOLDERS' FUNDS

2,991,575

402

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

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

The director acknowledges his 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 and authorised for issue on 8 November 2021 and were signed by:

J Baldwin - Director

1.	STATUTORY INFORMATION

Eastoak Limited is a private company, limited by shares, registered in England/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.

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 June 2020

693,676

187,796

881,472

Additions

-

19,245

Revaluations

3,336,324

-

3,336,324

At 31 May 2021

4,030,000

207,041

4,237,041

DEPRECIATION

At 1 June 2020

-

49,651

Charge for year

-

13,108

At 31 May 2021

-

62,759

NET BOOK VALUE

At 31 May 2021

4,030,000

144,282

4,174,282

At 31 May 2020

693,676

138,145

831,821

Cost or valuation at 31 May 2021 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2010

693,676

207,041

900,717

Valuation in 2021

3,336,324

-

3,336,324

4,030,000

207,041

4,237,041

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2021

2020

£

Investments

106,500

Investments *Revaluation

103,500

-

210,000

106,500

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

855,302

Revaluations

244,698

At 31 May 2021

1,100,000

NET BOOK VALUE

At 31 May 2021

1,100,000

At 31 May 2020

855,302

Fair value at 31 May 2021 is represented by:

£

Valuation in 2017

855,302

Valuation in 2021

244,698

1,100,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Other debtors

330,297

195,830

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

2,580

4,079

Taxation and social security

20,802

9,797

Other creditors

65,635

12,375

89,017

26,251

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Bank loans

2,084,907

1,976,870

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,084,907

1,976,870

10.

RESERVES

Fair

value

reserve

£

Property revaluation

2,984,463

At 31 May 2021

2,984,463

11.	RELATED PARTY DISCLOSURES

Included in the Other Debtors is an amount of £328,540 (2020 - £178,960) owed by Westoak Farms Ltd, a company under the control of the director Mr J Baldwin. No repayment terms have been set and no interest is to be charged.

Included in the Other Creditors is an amount of £45,875 (2020 - £12,375) owed by Bedgebury Estate Ltd, a company under the control of the director Mr J Baldwin. No repayment terms have been set and no interest is to be charged.

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of J Baldwin, the director.

Eastoak Limited - Accounts to registrar (filleted) - small 18.2

Eastoak Limited - Accounts to registrar (filleted) - small 18.2