Eastland House Limited - Accounts to registrar (filleted) - small 17.3
Eastland House Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
EASTLAND HOUSE LIMITED |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 8 |
EASTLAND HOUSE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
11 King Street |
King's Lynn |
Norfolk |
PE30 1ET |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
BALANCE SHEET |
31 MARCH 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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. |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
BALANCE SHEET - continued |
31 MARCH 2017 |
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 |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
1. | STATUTORY INFORMATION |
Eastland House Limited is a |
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 |
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. |
First year adoption |
This is the first year the company has prepared accounts using FRS102. Other than the reclassification of |
freehold property as investment property as described in the Reconciliation of Equity, the director does not |
believe that any changes from old UK GAAP are necessary. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2016 - NIL). |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
Revaluations |
At 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Revaluation adjustments | ( |
) |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
Fair value at 31 March 2017 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: |
31.3.17 | 31.3.16 |
£ | £ |
Cost | 145,391 | 145,391 |
Aggregate depreciation | 29,080 | 26,172 |
The investment property was valued on an open market basis on 31 March 2017 by the director . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Corporation tax |
Social security and other taxes |
Accruals |
Director's current account |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans (see note 8) |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.17 | 31.3.16 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
The bank loan is secured against The Old Bakery, Church Street, Hunstanton, Norfolk. |
10. | PROVISIONS FOR LIABILITIES |
31.3.17 | 31.3.16 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Investment property |
Balance at 31 March 2017 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
Ordinary | £1 |
EASTLAND HOUSE LIMITED (REGISTERED NUMBER: 01597635) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
12. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2016 | 43,165 |
Profit for the year |
Fair value gains, net of deferred tax | - | 203,248 | 203,248 |
At 31 March 2017 | 253,623 |
13. | RELATED PARTY DISCLOSURES |
Control |
Mrs C R Swain Mason, the sole director of the company, holds through her husband, a beneficial interest in |
100% of the issued share capital . |
Related party disclosures |
At 31 March 2017 the company owed the director £34,751 (2016 - £26,833). |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
EASTLAND HOUSE LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Eastland House Limited for the year ended 31 March 2017 which comprise the Income |
Statement, Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of Eastland House Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eastland House Limited and state those matters that we have agreed to state to the director of Eastland House Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Eastland House Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eastland House Limited. You consider that Eastland House Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Eastland House Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
11 King Street |
King's Lynn |
Norfolk |
PE30 1ET |