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REGISTERED NUMBER: 11518869 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Greencliff Property Ltd

Greencliff Property Ltd (Registered number: 11518869)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Greencliff Property Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr R G Jennings





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 11518869 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Greencliff Property Ltd (Registered number: 11518869)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 14 14

CURRENT ASSETS
Debtors 806,903 374,745
Investments 1,836,307 1,827,610
Cash at bank 681,800 665,897
3,325,010 2,868,252
CREDITORS
Amounts falling due within one year 156,519 104,040
NET CURRENT ASSETS 3,168,491 2,764,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,168,505

2,764,226

CAPITAL AND RESERVES
Called up share capital 6 14 14
Retained earnings 3,168,491 2,764,212
SHAREHOLDERS' FUNDS 3,168,505 2,764,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Greencliff Property Ltd (Registered number: 11518869)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr R G Jennings - Director


Greencliff Property Ltd (Registered number: 11518869)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Greencliff Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Greencliff Property Ltd (Registered number: 11518869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers that it is appropriate to prepare the financial statements on the going concern basis.

Other investments
Investments in shares and similar investments other than subsidiaries and associated companies are included at their market value at the balance sheet date and any changes in their fair value between the previous year end or acquisition, as applicable, are recognised in profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 14
NET BOOK VALUE
At 31 March 2024 14
At 31 March 2023 14

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
14 Ordinary £1 14 14

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr R G Jennings
Balance outstanding at start of year 280,000 -
Amounts advanced 300,000 280,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 580,000 280,000

Greencliff Property Ltd (Registered number: 11518869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The maximum overdrawn balance during the year was £580,000.

Interest was charged on the loan at the official interest rate.