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Company No: 00571610 (England and Wales)

GREENSLADE DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

GREENSLADE DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

GREENSLADE DEVELOPMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
GREENSLADE DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS J G Greenslade
R F M Greenslade
M J Greenslade
SECRETARY R F M Greenslade
REGISTERED OFFICE Suite 1 Osborne Rise
Taunton
TA1 4PD
England
United Kingdom
COMPANY NUMBER 00571610 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
GREENSLADE DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 October 2023
GREENSLADE DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 572 641
Investment property 4 470,000 450,000
Investments 5 37,487 35,089
508,059 485,730
Current assets
Debtors 6 2,077 655
Cash at bank and in hand 199,451 238,067
201,528 238,722
Creditors: amounts falling due within one year 7 ( 87,680) ( 93,214)
Net current assets 113,848 145,508
Total assets less current liabilities 621,907 631,238
Creditors: amounts falling due after more than one year 8 ( 12,428) ( 18,389)
Provision for liabilities ( 40,510) ( 35,527)
Net assets 568,969 577,322
Capital and reserves
Called-up share capital 9 30,000 30,000
Profit and loss account 10 538,969 547,322
Total shareholders' funds 568,969 577,322

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

Directors' responsibilities:

The financial statements of Greenslade Developments Limited (registered number: 00571610) were approved and authorised for issue by the Board of Directors on 24 March 2024. They were signed on its behalf by:

J G Greenslade
Director
M J Greenslade
Director
GREENSLADE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
GREENSLADE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Greenslade Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 1 Osborne Rise, Taunton, TA1 4PD, England, 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 comprises the sale of holidays, net of VAT and is recognised based on holidays with a departure date during the year.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed 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.

Fixtures and fittings 10 - 25 % reducing balance

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation of each asset on a reducing balance basis over its expected useful life, as above.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2022 4,484 4,484
At 31 October 2023 4,484 4,484
Accumulated depreciation
At 01 November 2022 3,843 3,843
Charge for the financial year 69 69
At 31 October 2023 3,912 3,912
Net book value
At 31 October 2023 572 572
At 31 October 2022 641 641

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 450,000
Fair value movement 20,000
As at 31 October 2023 470,000

The investment properties owned by the company were revalued by the director, Mr J G Greenslade, who is internal to the company, on 31 October 2023 on an open market basis. The original cost of the revalued properties was £147,991 (2022 £147,991)

There has been no valuation of investment property by an independent valuer.

The fair value of the investment properties has not materially changed since this date.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 November 2022 35,089 35,089
Additions 10,679 10,679
Disposals ( 7,846) ( 7,846)
Movement in fair value ( 435) ( 435)
At 31 October 2023 37,487 37,487
Carrying value at 31 October 2023 37,487 37,487
Carrying value at 31 October 2022 35,089 35,089

6. Debtors

2023 2022
£ £
Prepayments and accrued income 2,077 655

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,000 5,870
Trade creditors 0 2,564
Amounts owed to directors 67,009 70,085
Accruals and deferred income 7,514 7,575
Other taxation and social security 75 75
Other creditors 7,082 7,045
87,680 93,214

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 12,428 18,389

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30,000 Ordinary shares of £ 1.00 each 30,000 30,000

10. Reserves

Reserves

As at 31 October 2022, the profit and loss account included £290,135 (2022: £275,135) of non-distributable reserves. This relates to the revaluation surplus on the investment properties.