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REGISTERED NUMBER: 10266611 (England and Wales)















Greentown Investments (UK) Limited

Financial Statements for the Year Ended 31 December 2022






Greentown Investments (UK) Limited (Registered number: 10266611)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Greentown Investments (UK) Limited

Company Information
for the Year Ended 31 December 2022







Director: B M O'Neill





Registered office: 3 Hardman Square
Spinningfields
Manchester
M3 3EB





Registered number: 10266611 (England and Wales)





Auditors: Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Greentown Investments (UK) Limited (Registered number: 10266611)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
Fixed assets
Investments 4 2 2

Current assets
Debtors 5 100 100

Creditors
Amounts falling due within one year 6 (50,002 ) (2 )
Net current (liabilities)/assets (49,902 ) 98
Total assets less current liabilities (49,900 ) 100

Capital and reserves
Called up share capital 7 100 100
Retained earnings (50,000 ) -
Shareholders' funds (49,900 ) 100

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2024 and were signed by:





B M O'Neill - Director


Greentown Investments (UK) Limited (Registered number: 10266611)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. Statutory information

Greentown Investments (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
Despite the fact the company had net liabilities at the period end, at the time of approving the financial statements, the directors have a reasonable expectation that the company will obtain adequate resources to continue in operational existence for the foreseeable future. There are material uncertainties which may cast doubt about the company's ability to continue as a going concern and therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.

The company also has a letter of support from the groups ultimate parent company to provide necessary funding for at least 12 months from the approval of the financial statements. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue, although at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Consequently, the Directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Greentown Investments (UK) Limited (Registered number: 10266611)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2022
and 31 December 2022 2
Net book value
At 31 December 2022 2
At 31 December 2021 2

The company's investments at the Statement of Financial Position date in the share capital of companies includes the following:

Greentown Berkeley Limited
Registered in England & Wales

Class of share: Ordinary shares of £1 each
% of shareholding: 100%


Greentown Housing (UK) Limited
Registered in England & Wales

Class of share: Ordinary shares of £1 each
% of shareholding: 100%

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Amounts owed by related parties 1 1
Other debtors 99 99
100 100

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Trade creditors 50,000 -
Amounts owed to related parties 2 2
50,002 2

Greentown Investments (UK) Limited (Registered number: 10266611)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
7,500 Ordinary A 0.01 75 75
2,500 Ordinary B 0.01 25 25
100 100

Forms were filed retrospectively in 2023 to reflect the following transactions from 31.03.2021.

£1 ordinary share divided into 100 A shares of £0.01 each, and subsequent issue of A and B shares as follows:

7400 £0.01 A shares allotted
2500 £0.01 B shares allotted

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

C Edwards (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors

Material uncertainty relating to going concern

We draw attention to the Statement of Comprehensive Income in the financial statements, which reports that the company incurred a net loss of £50,000 during the year ended 31st December 2022 and, as of that date, the company's current liabilities exceeds its total assets by £49,900.

The directors have stated that the company has the financial support of its parent company, Ableon Ltd and although Ableon Ltd is reliant on the valuation of its asset portfolio to provide that support, the directors believe it will be in place for at least 12 months from date of approval.

As stated in note 2 to the financial statements, these events or conditions, along with other matters set forth in that note, indicate that material uncertainties exist that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

9. Ultimate controlling party

The ultimate controlling party is B M O'Neill.

The immediate parent company is Greentown Holdings (UK) Limited.

The largest and smallest group for which group financial statements are prepared, and of which the company is a member, is as follows:

Name: Ableon Limited
Country of Incorporation: Ireland
Address from where copies of the 22 Avoca Wood
Group financial statements can be obtained Avoca
Co. Wicklow