Company Registration No. 13140688 (England and Wales)
Green Property Group Brighton Limited
Unaudited accounts
for the year ended 31 January 2023
Green Property Group Brighton Limited
Company Information
for the year ended 31 January 2023
Directors
Thomas Lever
Richard Green
Company Number
13140688 (England and Wales)
Registered Office
13 ST. GEORGES ROAD
BRIGHTON
BN2 1EB
ENGLAND
Green Property Group Brighton Limited
Statement of financial position
as at 31 January 2023
Tangible assets
595,957
293,572
Cash at bank and in hand
(124)
22,331
Creditors: amounts falling due within one year
(396,337)
(331,140)
Net current liabilities
(396,461)
(308,809)
Total assets less current liabilities
199,496
(15,237)
Provisions for liabilities
Net assets/(liabilities)
142,225
(15,237)
Called up share capital
100
-
Revaluation reserve
301,428
-
Profit and loss account
(159,303)
(15,237)
Shareholders' funds
142,225
(15,237)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by
Thomas Lever
Director
Company Registration No. 13140688
Green Property Group Brighton Limited
Notes to the Accounts
for the year ended 31 January 2023
Green Property Group Brighton Limited is a private company, limited by shares, registered in England and Wales, registration number 13140688. The registered office is 13 ST. GEORGES ROAD, BRIGHTON, BN2 1EB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
31 January 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 18 January 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
10 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
Green Property Group Brighton Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At valuation
At cost
At cost
At 1 February 2022
293,572
-
-
293,572
Additions
122,100
417
1,017
123,534
Revaluations
179,329
-
-
179,329
At 31 January 2023
595,001
417
1,017
596,435
Charge for the year
-
139
339
478
At 31 January 2023
-
139
339
478
At 31 January 2023
595,001
278
678
595,957
At 31 January 2022
293,572
-
-
293,572
The valuation was undertaken by an estate agent for the mortgage application. The value of the property at the 31st January 2023 is £595,000.
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
85,013
13,640
Loans from directors
311,324
317,500
7
Capital commitments
2023
2022
Green Property Group Brighton Ltd is a company that owns a buy to let property, Steyne Mansions, which is classified as a
Furnished Holiday Letting (FHL). The Land and Buildings figure in the accounts is a Freehold Property.
Tom Lever's directors loan account owes Tom Lever £200,875 at the 31st January 2023.
Richard Green's directors loan account owes Richard Green £110,450 at the 31st January 2023.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
10
Reconciliations on adoption of FRS 102