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REGISTERED NUMBER: 13400874 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2023

for

GREEN KITE HOMES LIMITED

GREEN KITE HOMES LIMITED (REGISTERED NUMBER: 13400874)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GREEN KITE HOMES LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: G J Thomas
R D Phillips





REGISTERED OFFICE: Elwood House 42 Lytton Road
New Barnet
Barnet
EN5 5BY





REGISTERED NUMBER: 13400874 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

GREEN KITE HOMES LIMITED (REGISTERED NUMBER: 13400874)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
CURRENT ASSETS
Stocks 4 198,830 122,807
Debtors 5 402,421 23,591
Cash at bank 508,748 -
1,109,999 146,398
CREDITORS
Amounts falling due within one year 6 743,954 150,125
NET CURRENT ASSETS/(LIABILITIES) 366,045 (3,727 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,045

(3,727

)

CAPITAL AND RESERVES
Called up share capital 1,004 100
Share premium 399,996 -
Retained earnings (34,955 ) (3,827 )
366,045 (3,727 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





G J Thomas - Director


GREEN KITE HOMES LIMITED (REGISTERED NUMBER: 13400874)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Green Kite Homes 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 (2022 - NIL).

4. STOCKS
31.5.23 31.5.22
£    £   
Work-in-progress 198,830 122,807

GREEN KITE HOMES LIMITED (REGISTERED NUMBER: 13400874)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Amounts owed by group undertakings 386,575 -
Other debtors 350 100
VAT 15,496 23,491
402,421 23,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts (see note 7) - 46,433
Other loans (see note 7) 641,000 51,000
Trade creditors 44,203 49,674
Accruals and deferred income 58,751 3,018
743,954 150,125

7. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 46,433
Other loans 641,000 51,000
641,000 97,433

8. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in the debtors due within one year is £206,040 (2022: £nil) due from Green Kite Homes Send Limited, £94,083 (2022: £nil) due from Green Kite Homes MV Limited £85,934 (2022:£nil) due from Green Kite Homes MV2 Limited and £518 (2022: £nil) due from CKC Properties Limited, companies in which there is common directorship.