Eastoak Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03378920

Unaudited Financial Statements for the Year Ended 31 May 2022

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

4,163,140

4,174,282

Investments

5

231,750

210,000

Investment property

6

1,134,862

1,100,000

5,529,752

5,484,282

CURRENT ASSETS

Debtors

7

344,199

330,297

Cash at bank

22,792

65,093

366,991

395,390

CREDITORS

Amounts falling due within one year

8

99,560

89,017

NET CURRENT ASSETS

267,431

306,373

TOTAL ASSETS LESS CURRENT LIABILITIES

5,797,183

5,790,655

CREDITORS

Amounts falling due after more than one year

9

(2,021,577

)

(2,084,907

)

PROVISIONS FOR LIABILITIES

(712,056

)

(714,173

)

NET ASSETS

3,063,550

2,991,575

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

10

2,984,463

2,984,463

Retained earnings

79,085

7,110

SHAREHOLDERS' FUNDS

3,063,550

2,991,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 29 January 2023 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 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 June 2021

and 31 May 2022

4,030,000

207,041

4,237,041

DEPRECIATION

At 1 June 2021

-

62,759

62,759

Charge for year

-

11,142

11,142

At 31 May 2022

-

73,901

73,901

NET BOOK VALUE

At 31 May 2022

4,030,000

133,140

4,163,140

At 31 May 2021

4,030,000

144,282

4,174,282

Cost or valuation at 31 May 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2021

3,336,324

-

3,336,324

Cost

693,676

207,041

900,717

4,030,000

207,041

4,237,041

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2022

2021

£

£

Investments

231,750

106,500

Investments *Revaluation

-

103,500

231,750

210,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2021

1,100,000

Additions

34,862

At 31 May 2022

1,134,862

NET BOOK VALUE

At 31 May 2022

1,134,862

At 31 May 2021

1,100,000

Fair value at 31 May 2022 is represented by:

£

Valuation in 2021

244,698

Cost

890,164

1,134,862

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

344,199

330,297

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

2,038

2,580

Taxation and social security

51,454

20,802

Other creditors

46,068

65,635

99,560

89,017

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

2,021,577

2,084,907

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,021,577

2,084,907

10.

RESERVES

Fair

value

reserve

£

At 1 June 2021

and 31 May 2022

2,984,463

11.	RELATED PARTY DISCLOSURES

Included in the Other Debtors is an amount of £340,869 (2021 - £328,540) 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 (2021 - £45,875) 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.

Included in the Other Creditors is an amount owed to the company director Mr J Balwdin totalling £193 (2021 - £19,760), no interest is to be charged.

During the year income totalling £41,292 has been received from Bedgebury Estate Ltd, a company under the control of the director Mr J Baldwin.

12.	ULTIMATE CONTROLLING PARTY

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