2022-06-012023-05-312023-05-31false09604245Greenway Property Ventures 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Greenway Property Ventures Limited

Registered Number
09604245
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

Greenway Property Ventures Limited
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

Deborah Bond
Gary Bond

Company Secretary

Gary Bond

Registered Address

Eddison House
Cross Lane
Marlborough
SN8 1LA

Registered Number

09604245 (England and Wales)
Greenway Property Ventures Limited
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property71,156,162736,161
1,156,162736,161
Current assets
Debtors91,69584
Cash at bank and on hand16,797135,237
18,492135,321
Creditors amounts falling due within one year10(290,478)(6,075)
Net current assets (liabilities)(271,986)129,246
Total assets less current liabilities884,176865,407
Net assets884,176865,407
Capital and reserves
Called up share capital786,384786,384
Profit and loss account97,79279,023
Shareholders' funds884,176865,407
The financial statements were approved and authorised for issue by the Board of Directors on 1 February 2024, and are signed on its behalf by:
Gary Bond
Director
Registered Company No. 09604245
Greenway Property Ventures Limited
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is property investment.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Investment property policy
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined periodically by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
6.Employee information

20232022
Average number of employees during the year00
7.Investment property
There has been no valuation of investment property by an independent valuer but in the opinion of the Directors, the value of the property in the financial statements is reflective of the market value at the year end.

£
Fair value at 01 June 22736,161
Additions420,001
At 31 May 231,156,162
8.Description of nature of transactions and balances with related parties
At the year end the Company owed the Directors £280,491 (2022: £491). The loan is unsecured, interest free and repayable on demand.
9.Debtors

2023

2022

££
Other debtors1,69584
Total1,69584
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Amounts owed to related parties280,491491
Taxation and social security7,5273,125
Accrued liabilities and deferred income2,4602,459
Total290,4786,075
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.