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REGISTERED NUMBER: 11558363 (England and Wales)















Green Quarter 7 Development Ltd

Directors' Report and

Financial Statements

for the Year Ended 31 December 2023






Green Quarter 7 Development Ltd (Registered number: 11558363)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Directors' Report 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Green Quarter 7 Development Ltd

Company Information
for the year ended 31 December 2023







Directors: H H Crocker
P J Crocker





Registered office: 6th Floor
9 Appold Street
London
EC2A 2AP





Registered number: 11558363 (England and Wales)

Green Quarter 7 Development Ltd (Registered number: 11558363)

Directors' Report
for the year ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

Principal activity
The principal activity of the Company was the development and subsequent sale of flats.

Directors
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

H H Crocker
P J Crocker

Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





H H Crocker - Director


10 September 2024

Green Quarter 7 Development Ltd (Registered number: 11558363)

Income Statement
for the year ended 31 December 2023

2023 2022
£ £

Turnover 1,925,000 6,198,750

Cost of sales (1,864,236 ) (6,028,341 )
Gross profit 60,764 170,409

Administrative expenses (58,996 ) (49,826 )
Operating profit 1,768 120,583

Interest receivable and similar income 1,211 8,103
Profit before taxation 2,979 128,686

Tax on profit 121 -
Profit for the financial year 3,100 128,686

Green Quarter 7 Development Ltd (Registered number: 11558363)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Current assets
Stocks - 1,666,396
Debtors 4 274,868 7,954,733
Cash at bank 82,916 -
357,784 9,621,129
Creditors
Amounts falling due within one year 5 276,472 9,442,917
Net current assets 81,312 178,212
Total assets less current liabilities 81,312 178,212

Capital and reserves
Called up share capital 6 1 1
Retained earnings 81,311 178,211
Shareholders' funds 81,312 178,212

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





H H Crocker - Director


Green Quarter 7 Development Ltd (Registered number: 11558363)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Green Quarter 7 Development Ltd 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical costs convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of trading properties.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank, trade and other receivables, equity investments and trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash at bank and in hand
Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction
costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

Green Quarter 7 Development Ltd (Registered number: 11558363)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial Liabilities - classified as basic financial instruments

(i) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

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.

Going concern
In the opinion of the Directors, based on the Company's budgets and financial projections, they have satisfied themselves that the business is a going concern. The Directors have reasonable expectations that the Company has adequate resources to continue for a period of at least 12 months from authorisation of the financial statements and therefore consider that the going concern basis of accounting is applicable.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 248,351 7,931,004
VAT 26,517 23,729
274,868 7,954,733

Green Quarter 7 Development Ltd (Registered number: 11558363)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 42,264 312
Other creditors 185,923 320,166
Accruals and deferred income 48,285 9,122,439
276,472 9,442,917

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary share capital £1 1 1

7. Related party disclosures

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.

As at the year end the company has an outstanding balance with related parties. This is shown below, with positive balances indicating debtors and negative balances indicating creditors.


Company Relation 2023 2022
Delph Property Developments Limited Company under common control (42,264 ) (312 )


All balances are secured against the development properties, bear interest at 2.5% above the Bank of England base rate, and are repayable at the date of disposal of the properties.

8. Ultimate controlling party

The immediate parent company is Delph Properties Manchester 2 Limited and the ultimate parent company is Wigmore Investments (UK) Limited. Both are incorporated and registered in England and Wales, whose registered address is 6th Floor 9 Appold Street, London, United Kingdom, EC2A 2AP.