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Registered number: 02465160
Greenspans Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Jacob Charles & Co.
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02465160
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 227,403 243,374
227,403 243,374
CURRENT ASSETS
Debtors 1,960 10,180
Investments 225,608 225,608
Cash at bank and in hand 165,425 181,607
392,993 417,395
Creditors: Amounts Falling Due Within One Year (9,471 ) (6,838 )
NET CURRENT ASSETS (LIABILITIES) 383,522 410,557
TOTAL ASSETS LESS CURRENT LIABILITIES 610,925 653,931
NET ASSETS 610,925 653,931
CAPITAL AND RESERVES
Called up share capital 5 253 253
Revaluation reserve 6 110,579 110,579
Capital redemption reserve 253 253
Profit and Loss Account 499,840 542,846
SHAREHOLDERS' FUNDS 610,925 653,931
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr LAURENCE GREENSPAN
Director
31/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Greenspans Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02465160 . The registered office is First Floor Office, Sentinel House , Brent Street, London, NW4 2EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Straight line over 50 years
Leasehold Over the term of the lease
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. lf any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible lo estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit 1o which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than Its carrying amount, the carryfng amount of the asset (or cash-generatlng unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognlsed for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or toss, unless the relevant asset is carried at a revalued amoun,tln which case the reversal of the impairment loss is treated as a revaluation increase.


Page 3
Page 4
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments" issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to teh contractual provisions of the instrument.

Financial assets and liabilities are offset, withthte net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction ls measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual Interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Ttade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 475,720
As at 31 March 2024 475,720
Depreciation
As at 1 April 2023 232,346
Provided during the period 15,971
As at 31 March 2024 248,317
Net Book Value
As at 31 March 2024 227,403
As at 1 April 2023 243,374
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 253 253
Page 4
Page 5
6. Reserves
Revaluation Reserve
£
As at 1 April 2023 110,579
As at 31 March 2024 110,579
Page 5