Greenkin Property Ltd |
Notes to the Accounts |
for the year ended 31 January 2024 |
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1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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. |
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Tangible fixed assets |
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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: |
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Freehold buildings |
not depreciated |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Creditors |
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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. |
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2 |
Employees |
2024 |
|
2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Debtors |
2024 |
|
2023 |
£ |
£ |
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Other debtors |
41,250 |
|
41,250 |
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4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
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Other creditors |
43,623 |
|
43,155 |
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5 |
Loans from directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Mr L Hopkins |
|
Directors loan |
10,670 |
|
468 |
|
- |
|
11,138 |
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|
Miss Z Hopkins |
|
Directors loan |
11,250 |
|
- |
|
- |
|
11,250 |
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|
|
21,920 |
|
468 |
|
- |
|
22,388 |
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The above loans are included in other creditors. |
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6 |
Other information |
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Greenkin Property Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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367 Chester Road |
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Little Sutton |
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Cheshire |
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CH66 3RQ |