Company Registration No. 09549854 (England and Wales)
GREENOAKS PROPERTY (SUSSEX) LIMITED
Unaudited accounts
for the year ended 31 March 2024
GREENOAKS PROPERTY (SUSSEX) LIMITED
Unaudited accounts
Contents
GREENOAKS PROPERTY (SUSSEX) LIMITED
Company Information
for the year ended 31 March 2024
Directors
Mark Richard Hale
Leandra Ruth Hale
Company Number
09549854 (England and Wales)
Registered Office
Green Oaks
The Street
Bolney
West Sussex
RH17 5PE
Accountants
Angela MacCarthy Limited T A On The Spot
7 Chalfont Drive
Hove
East Sussex
BN3 6QR
GREENOAKS PROPERTY (SUSSEX) LIMITED
Statement of financial position
as at 31 March 2024
Investment property
220,000
220,000
Cash at bank and in hand
1,578
506
Creditors: amounts falling due within one year
(132,228)
(137,776)
Net current liabilities
(130,600)
(137,270)
Total assets less current liabilities
89,714
83,122
Provisions for liabilities
Deferred tax
(12,949)
(12,949)
Called up share capital
100
100
Profit and loss account
76,665
70,073
Shareholders' funds
76,765
70,173
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by
Mark Richard Hale
Director
Company Registration No. 09549854
GREENOAKS PROPERTY (SUSSEX) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
GREENOAKS PROPERTY (SUSSEX) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09549854. The registered office is Green Oaks, The Street, Bolney, West Sussex, RH17 5PE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts have been prepared on a going concern basis. This assumes the ongoing support of the directors.
Revenue is the value of rental income charged to tenants relating to the accounting period.
Investment property is included at fair market value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Deferred tax has been provided in full in respect of taxation deferred by timing differences (including fair value adjustments) between the treatment of certain items for taxation and accounting purposes except that a deferred tax asset is only recognised to the extent that it is recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
Tangible fixed assets and depreciation
Depreciation is not charged on the investment property as land has an unlimited life as per FRS102 Section 17.
Fixtures & fittings
20% per annum reducing balance
GREENOAKS PROPERTY (SUSSEX) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2023
220,000
The investment property is shown at it's fair value as estimated by the director based on current market infomation. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided against these movements.
Amounts falling due within one year
Accrued income and prepayments
50
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,564
63
Loans from directors
129,876
136,963
8
Transactions with related parties
The transactions with the directors and shareholders have not been conducted under normal market conditions:. A balance of £129,876 is owed to the directors at the year end. Interest is not being charged by the directors.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).