Greenheath Properties Limited 02880444 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true true 02880444 2022-04-01 2023-03-31 02880444 2023-03-31 02880444 core:CurrentFinancialInstruments 2023-03-31 02880444 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02880444 core:FurnitureFittingsToolsEquipment 2023-03-31 02880444 core:LandBuildings 2023-03-31 02880444 bus:SmallEntities 2022-04-01 2023-03-31 02880444 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02880444 bus:FullAccounts 2022-04-01 2023-03-31 02880444 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02880444 bus:RegisteredOffice 2022-04-01 2023-03-31 02880444 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 02880444 bus:Director2 2022-04-01 2023-03-31 02880444 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02880444 core:FurnitureFittings 2022-04-01 2023-03-31 02880444 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 02880444 core:LandBuildings 2022-04-01 2023-03-31 02880444 1 2022-04-01 2023-03-31 02880444 countries:UnitedKingdom 2022-04-01 2023-03-31 02880444 2022-03-31 02880444 core:FurnitureFittingsToolsEquipment 2022-03-31 02880444 core:LandBuildings 2022-03-31 02880444 2021-04-01 2022-03-31 02880444 2022-03-31 02880444 core:CurrentFinancialInstruments 2022-03-31 02880444 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 02880444 core:FurnitureFittingsToolsEquipment 2022-03-31 02880444 core:LandBuildings 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 02880444

Greenheath Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Greenheath Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Greenheath Properties Limited

Company Information

Directors

A G Desai

P G Desai

Company secretary

A G Desai

Registered office

1 Woodside Chase
Hockley
Essex
SS5 4NB

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Greenheath Properties Limited

(Registration number: 02880444)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

2,719,000

2,719,039

Current assets

 

Debtors

5

8,902

8,719

Cash at bank and in hand

 

29,195

17,488

 

38,097

26,207

Creditors: Amounts falling due within one year

6

(731,504)

(752,208)

Net current liabilities

 

(693,407)

(726,001)

Net assets

 

2,025,593

1,993,038

Capital and reserves

 

Called up share capital

7

50,100

50,100

Retained earnings

1,975,493

1,942,938

Shareholders' funds

 

2,025,593

1,993,038

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2023 and signed on its behalf by:
 

.........................................
A G Desai
Company secretary and director

 

Greenheath Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1 Woodside Chase
Hockley
Essex
SS5 4NB
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Greenheath Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Greenheath Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,718,883

3,651

2,722,534

At 31 March 2023

2,718,883

3,651

2,722,534

Depreciation

At 1 April 2022

-

3,495

3,495

Charge for the year

-

39

39

At 31 March 2023

-

3,534

3,534

Carrying amount

At 31 March 2023

2,718,883

117

2,719,000

At 31 March 2022

2,718,883

156

2,719,039

Included within the net book value of land and buildings above is £1,334,623 (2022 - £1,334,623) in respect of freehold land and buildings and £1,384,260 (2022 - £1,384,260) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Prepayments

7,402

6,099

Other debtors

1,500

2,620

 

8,902

8,719

 

Greenheath Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,578

5,139

Accruals and deferred income

3,650

3,794

Other creditors

719,276

743,275

731,504

752,208

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Share Capital of £1 each

50,100

50,100

50,100

50,100

         

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

23,394

17,568

9

Parent and ultimate parent undertaking

The ultimate controlling party is the directors and the shareholders of the company.