Registered number
11350467
Greenhill One Limited
Filleted Accounts
31 May 2024
Greenhill One Limited
Registered number: 11350467
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 350,000 240,855
Current assets
Debtors 4 1,897 1,152
Cash at bank and in hand 17,975 11,291
19,872 12,443
Creditors: amounts falling due within one year 5 (1,655) (814)
Net current assets 18,217 11,629
Total assets less current liabilities 368,217 252,484
Creditors: amounts falling due after more than one year 6 (296,010) (300,020)
Provisions for liabilities (27,286) -
Net assets/(liabilities) 44,921 (47,536)
Capital and reserves
Called up share capital 10 -
Revaluation reserve 7 81,859 -
Profit and loss account (36,948) (47,536)
Shareholder's funds 44,921 (47,536)
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.
C Weatherup
Director
Approved by the board on 22 August 2024
Greenhill One Limited
Notes to the Accounts
for the year ended 31 May 2024
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises rents received from residential property letting, and is recognised on an accruals basis.
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:
Investment properties Nil
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties
£
Cost
At 1 June 2023 240,855
Surplus on revaluation 109,145
At 31 May 2024 350,000
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 350,000
At 31 May 2023 240,855
4 Debtors 2024 2023
£ £
Trade debtors 1,574 1,152
Other debtors 323 -
1,897 1,152
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,655 814
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 175,519 175,519
Other creditors 120,491 124,501
296,010 300,020
7 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 109,145 -
Deferred taxation arising on the revaluation of land and buildings (27,286) -
At 31 May 2024 81,859 -
8 Related party transactions
Included in long term other creditors is a loan from the company's director of £44,000.
9 Controlling party
The company is under the control of C Weatherup, who holds a 100% beneficial interest in the issued share capital of the company with voting rights attached.
10 Other information
Greenhill One Limited is a private company limited by shares and incorporated in England. Its registered office is:
145 Greenhill Road
Winchester
SO22 5DU
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