Silverfin false 30/04/2023 01/05/2022 30/04/2023 Denise Townsley 11/04/2017 19 September 2023 The principal activity of the company during the financial year was that of leasing out investment properties. SC563137 2023-04-30 SC563137 bus:Director1 2023-04-30 SC563137 2022-04-30 SC563137 core:CurrentFinancialInstruments 2023-04-30 SC563137 core:CurrentFinancialInstruments 2022-04-30 SC563137 core:ShareCapital 2023-04-30 SC563137 core:ShareCapital 2022-04-30 SC563137 core:RevaluationReserve 2023-04-30 SC563137 core:RevaluationReserve 2022-04-30 SC563137 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC563137 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC563137 core:InvestmentPropertyIncludedWithinPPE 2022-04-30 SC563137 core:ComputerEquipment 2022-04-30 SC563137 core:InvestmentPropertyIncludedWithinPPE 2023-04-30 SC563137 core:ComputerEquipment 2023-04-30 SC563137 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 SC563137 core:ImmediateParent core:CurrentFinancialInstruments 2022-04-30 SC563137 bus:OrdinaryShareClass1 2023-04-30 SC563137 2022-05-01 2023-04-30 SC563137 bus:FullAccounts 2022-05-01 2023-04-30 SC563137 bus:SmallEntities 2022-05-01 2023-04-30 SC563137 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC563137 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC563137 bus:Director1 2022-05-01 2023-04-30 SC563137 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 SC563137 2021-05-01 2022-04-30 SC563137 core:InvestmentPropertyIncludedWithinPPE 2022-05-01 2023-04-30 SC563137 core:ComputerEquipment 2022-05-01 2023-04-30 SC563137 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC563137 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC563137 (Scotland)

GREENHOUSE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

GREENHOUSE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

GREENHOUSE PROPERTIES LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
GREENHOUSE PROPERTIES LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,361,719 3,361,020
3,361,719 3,361,020
Current assets
Debtors 4 548,553 550,483
Cash at bank and in hand 2,601,369 2,537,058
3,149,922 3,087,541
Creditors: amounts falling due within one year 5 ( 75,156) ( 83,427)
Net current assets 3,074,766 3,004,114
Total assets less current liabilities 6,436,485 6,365,134
Provision for liabilities ( 140,182) ( 140,007)
Net assets 6,296,303 6,225,127
Capital and reserves
Called-up share capital 6 1,000 1,000
Revaluation reserve 24,300 24,300
Profit and loss account 6,271,003 6,199,827
Total shareholder's funds 6,296,303 6,225,127

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Greenhouse Properties Limited (registered number: SC563137) were approved and authorised for issue by the Director on 19 September 2023. They were signed on its behalf by:

Denise Townsley
Director
GREENHOUSE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
GREENHOUSE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Greenhouse Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Clava House, Cradlehall Business Park, Inverness, IV2 5GH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts. Turnover is recognised to the extent that the company has obtained the right to consideration through its performance.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Investment property not depreciated
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to ail of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Investment property Computer equipment Total
£ £ £
Cost
At 01 May 2022 3,360,000 2,260 3,362,260
Additions 0 1,074 1,074
At 30 April 2023 3,360,000 3,334 3,363,334
Accumulated depreciation
At 01 May 2022 0 1,240 1,240
Charge for the financial year 0 375 375
At 30 April 2023 0 1,615 1,615
Net book value
At 30 April 2023 3,360,000 1,719 3,361,719
At 30 April 2022 3,360,000 1,020 3,361,020

Investment properties

The investment properties were valued at £3,360,000 (2022 - £3,360,000) on an open market basis by Graham & Sibbald, Chartered Surveyors on 19 November 2019. The director believes that the valuations represent an accurate market value of the properties as at 30 April 2023.

4. Debtors

2023 2022
£ £
Trade debtors 3,790 3,100
Corporation tax 133,878 133,878
Other debtors 410,885 413,505
548,553 550,483

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 3,072
Amounts owed to Parent undertakings 4,292 2,206
Taxation and social security 53,850 60,802
Other creditors 17,014 17,347
75,156 83,427

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Directors Loan Account - Opening Balance 411,932 413,327
Amounts advanced 20,838 23,542
Amounts withdrawn (24,938) (24,938)
Directors Loan Account - Closing Balance 407,832 411,932

The loan due from the director is unsecured, interest free and has no fixed terms of repayment.

Other related party transactions

2023 2022
£ £
Amounts due to parent entity 4,292 2,206