Registered number
13854367
Greenfinch Property Investments Limited
Unaudited Filleted Accounts
31 December 2023
Greenfinch Property Investments Limited
Registered number: 13854367
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 521,465 520,796
Current assets
Cash at bank and in hand 10,075 6,983
Creditors: amounts falling due within one year 4 (161,956) (163,794)
Net current liabilities (151,881) (156,811)
Total assets less current liabilities 369,584 363,985
Creditors: amounts falling due after more than one year 5 (371,490) (371,490)
Net liabilities (1,906) (7,505)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,006) (7,605)
Shareholder's funds (1,906) (7,505)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A. Cheng
Director
Approved by the board on 17 July 2024
Greenfinch Property Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investment property
The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The directors value the property at the balance sheet date.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 520,796
Additions 669
At 31 December 2023 521,465
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 521,465
At 31 December 2022 520,796
Freehold land and buildings: 2023 2022
£ £
Historical cost 520,796 520,796
Cumulative depreciation based on historical cost - -
520,796 520,796
Mr A. Cheng, a director, valued the investment property at 31st December 2023 using the estimated value which the property could reasonably be sold for on the open market.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 238 -
Directors' loan account 159,818 159,765
Other creditors 1,900 4,029
161,956 163,794
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 371,490 371,490
6 Other information
Greenfinch Property Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
96 Woodlands Road
Isleworth
TW7 6JY
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