Company Registration No. 11727009 (England and Wales)
Greentown Property Ltd
Unaudited accounts
for the year ended 31 March 2023
Greentown Property Ltd
Unaudited accounts
Contents
Greentown Property Ltd
Company Information
for the year ended 31 March 2023
Company Number
11727009 (England and Wales)
Registered Office
International House
64 Nile Street
London
N1 7SR
Greentown Property Ltd
Statement of financial position
as at 31 March 2023
Investment property
950,000
378,599
Cash at bank and in hand
117,970
60,360
Creditors: amounts falling due within one year
(737,313)
(182,107)
Net current liabilities
(619,343)
(118,482)
Total assets less current liabilities
330,657
260,117
Creditors: amounts falling due after more than one year
(255,000)
(255,000)
Provisions for liabilities
Deferred tax
(24,834)
(5,000)
Called up share capital
100
100
Profit and loss account
50,723
17
Shareholders' funds
50,823
117
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 27 March 2024 and were signed on its behalf by
Yizhu Wang
Director
Company Registration No. 11727009
Greentown Property Ltd
Notes to the Accounts
for the year ended 31 March 2023
Greentown Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 11727009. The registered office is International House, 64 Nile Street, London, N1 7SR.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Investment property is included at 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.
Fair value at 1 April 2022
378,599
Net gain from fair value adjustments
79,336
Amounts falling due within one year
Greentown Property Ltd
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
316,617
-
Loans from directors
420,696
181,700
Bank loan is a bridging loan secured on company's investment property. The loan is interest only and is repaid in April 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
255,000
255,000
Aggregate of amounts that fall due for payment after five years
255,000
255,000
This loan is secured on company's investment property. The loan is interest only and repayable in August 2030.
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).