Eastwick Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05537124 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Eastwick Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Ms J E Gouldstone

J R Hancock

REGISTERED OFFICE:

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

REGISTERED NUMBER:

05537124 (England and Wales)

ACCOUNTANTS:

Granite Morgan Smith Limited

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

FIXED ASSETS

512,107

Investment property

4

605,000

CURRENT ASSETS

12,057

Debtors

5

748

20,311

Cash at bank and in hand

119,978

32,368

120,726

CREDITORS

257,042

Amounts falling due within one year

6

302,928

(224,674

)

NET CURRENT LIABILITIES

(182,202

)

287,433

TOTAL ASSETS LESS CURRENT LIABILITIES

422,798

CREDITORS

(285,877

)

Amounts falling due after more than one year

7

(238,332

)

-

PROVISIONS FOR LIABILITIES

(18,940

)

1,556

NET ASSETS

165,526

CAPITAL AND RESERVES

2

Called up share capital

2

-

Fair value reserve

9

149,276

1,554

Retained earnings

16,248

1,556

SHAREHOLDERS' FUNDS

165,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 February 2018 and were signed on its behalf by:

Ms J E Gouldstone - Director

1.	STATUTORY INFORMATION

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

This is the first year that the company has presented its results under FRS 102 section 1A. The last set of

financial statements under UK GAAP were for the year to 31 May 2016. The date of transition to FRS 102

section 1A was 1 June 2016. There are no transitional adjustments arising from the first time adoption of FRS

102 section 1A

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 (2016 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2016

512,107

Disposals

(75,323

)

Revaluations

168,216

At 31 May 2017

605,000

NET BOOK VALUE

At 31 May 2017

605,000

At 31 May 2016

512,107

The directors consider that the value of the investment property is a good representation of the open market value

at the balance sheet date.

Fair value at 31 May 2017 is represented by:

£

Valuation in 2017

168,216

Cost

436,784

605,000

Investment properties were valued on an open market basis basis on 31 May 2017 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Other debtors

748

12,057

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

10,136

10,573

Trade creditors

24,141

34,009

Taxation and social security

1,902

686

Other creditors

266,749

211,774

302,928

257,042

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans

238,332

285,877

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

186,815

232,612

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.17

31.5.16

£

£

Bank loans

248,468

296,450

The bank loan is secured by a first legal charge over the company's investment property.

9.

RESERVES

Fair

value

reserve

£

Transfer to fair value reserve

149,276

At 31 May 2017

149,276

10.	RELATED PARTY DISCLOSURES

At the balance sheet date there was monies owed by the company to G and H Associates (Brussels ) Ltd in the

sum of £70,000 (2016 £70,000). The loan is interest free and repayable on demand The directors Ms J E

Gouldstone and J R Hancock are also directors of G and H Associates (Brussels) Ltd.

During the period ended 31 May 2008, a loan for £10,000 was made to the company by G and H Associates Ltd.

During the year ended 31 May 2015 a further loan of £25,000 was made to the company by G and H Associates

Ltd and in the year ended 31 May 2017 an additional loan of £40,000 was made. No interest was paid during the

year and the loan of £75,000 remains outstanding at the year end. The directors Ms J E Gouldstone and J R

Hancock are also directors of G and H Associates Ltd.

At the balance sheet date the company owed the director J E Gouldstone £56,657 (2016 - £55,294) and J R

Hancock £50,000 (2016 - £50,000) in respect of their directors loan account. This loan ares interest free and

repayable on demand.

11.	POST BALANCE SHEET EVENTS

No events have occurred since the date of the balance sheet that need to be brought to the attention of

shareholders or third parties.

The following reproduces the text of the report prepared for the directors 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 Directors 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 Eastwick Investments Limited for the year ended 31 May 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 Board of Directors of Eastwick Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eastwick Investments Limited and state those matters that we have agreed to state to the Board of Directors of Eastwick Investments Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Eastwick Investments 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 Eastwick Investments Limited. You consider that Eastwick Investments 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 Eastwick Investments 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.

Granite Morgan Smith Limited

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

23 February 2018