Registered number
SC170837
Green Land Management Limited
Unaudited Financial Statements for the year ended
31 December 2023
Green Land Management Limited Registered number: SC170837
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity is that of a Property and Management Company.
Fixed Assets
The heritable properties were revalued in November 2006. The value, which was £3,714 greater than the former net book value, has been incorporated in these accounts. The directors consider that the balance sheet value is not materially different from the market value.
Directors
The directors of the company and their interest in the shares of the company are as follows:
£1 Ordinary Shares £1 Ordinary Shares
2023 2022
Richard Green 29500 29500
Patricia Green - -
Small company provisions
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 14 February 2024 and signed on its behalf by:
Ann Ramsay
Secretary
Green Land Management Limited Registered number: SC170837
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,756,433 1,756,433
Investments 4 225,315 208,357
1,981,748 1,964,790
Current assets
Debtors 5 13,672 9,205
Cash at bank and in hand 1,293,581 1,270,249
1,307,253 1,279,454
Creditors: amounts falling due within one year 6 (83,017) (66,406)
Net current assets 1,224,236 1,213,048
Net assets 3,205,984 3,177,838
Capital and reserves
Called up share capital 50,000 50,000
Revaluation reserve 7 3,714 3,714
Profit and loss account 3,152,270 3,124,124
Shareholders' funds 3,205,984 3,177,838
Balance Sheet (continued) as at 31 December 2023
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006 for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of Section 386 and Section 387 of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2023, and of its profit for the financial year in accordance with the requirements of Section 396 and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies and the Financial Reporting Standard for Smaller Entities (April 2008). The profit and loss account has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 14 February 2024 and signed on its behalf by:
Richard Green
Director
Green Land Management Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
Income comprises of rent, management charges, interest and dividends received.
In the opinion of the directors none of the turnover by the company is attributable to geographical markets outside the UK.
Tangible fixed assets
The Hertiable properties of the company were revalued to £1,355,000 in November 2006 by Hardies - Property & Construction Consultants and Graham & Sibbald - Chartered Surveyors. On an open market existing use basis. The Directors are not aware of any material change in value since the date of the valuation. An additonal property was purchased in August 2016 at a value of £238,632, and another property was purchased in March 2022 at a value of £162,801.
If all the Heritable properties had not been included at valuation they would have been included under the historical cost convention at £1,752,719.
Plant and machinery is stated at cost less accumulative depreciation. Depreciation is provided on all tangible fixed assets, at rates and on bases calculated to write off the cost of each asset over its expected useful life. The annual depreciation rates and bases are as follows:
Plant and Machinery over 4 years
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant & machinery Total
£ £ £
Cost
At 1 January 2023 1,756,433 21,876 1,778,309
At 31 December 2023 1,756,433 21,876 1,778,309
Depreciation
At 1 January 2023 - 21,876 21,876
At 31 December 2023 - 21,876 21,876
Net book value
At 31 December 2023 1,756,433 - 1,756,433
At 31 December 2022 1,756,433 - 1,756,433
4 Investments 2023
£
Cost of shares
At 1 January 2023 194,457
Additions 26,895
Disposals (9,937)
Shares at 31 December 2023 211,415
Pictures 13,900
Total investments at 31 December 2023 225,315
The market value of the shares at 31 December 2023 was £154,002 (2022 - £133,685)
5 Debtors 2023 2022
£ £
Other debtors 13,672 9,205
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 310 135
Taxation and social security costs 12,073 12,488
Director's account 67,693 50,841
Other creditors 2,941 2,942
83,017 66,406
The loans from the directors are interest free and no arrangements exist for their repayment.
7 Revaluation reserve 2023 2022
£ £
At 1 January 2023 3,714 3,714
At 31 December 2023 3,714 3,714
8 Related party transactions
Mr and Mrs Green rent one of the company's properties for £14,400 per annum.
9 Controlling party
The controlling party is Mr R Green by virtue of his ownership of 59% of the issued ordinary share capital of the company.
10 Other information
Green Land Management Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
The Old Farmhouse
Easter Balgedie
Kinross
KY13 9HQ
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