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Registered number: 02906299
Greenheart Property Investment Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Inspire Accounting (UK) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02906299
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,399,000 17,625,000
16,399,000 17,625,000
CURRENT ASSETS
Debtors 5 205,562 5,548
Cash at bank and in hand 1,252,829 156,182
1,458,391 161,730
Creditors: Amounts Falling Due Within One Year 6 (218,165 ) (201,414 )
NET CURRENT ASSETS (LIABILITIES) 1,240,226 (39,684 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,639,226 17,585,316
Creditors: Amounts Falling Due After More Than One Year 7 (3,314,850 ) (2,806,191 )
NET ASSETS 14,324,376 14,779,125
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Revaluation reserve 10 13,772,739 14,800,739
Profit and Loss Account 550,637 (22,614 )
SHAREHOLDERS' FUNDS 14,324,376 14,779,125
Page 1
Page 2
For the year ending 30 April 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.
On behalf of the board
Mr Azid Sohoye
Director
10/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Greenheart Property Investment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02906299 . The registered office is Unit 13A, Chiltern Court, Asheridge Road, Chesham, Buckinghamshire, HP5 2PX.
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 comprises Rents received from Tenancy agreements less agents commission.
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:
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 7)
9 7
4. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 May 2023 17,625,000 3,666 5,318 17,633,984
Disposals (198,000 ) - - (198,000 )
Revaluation (1,028,000 ) - - (1,028,000 )
As at 30 April 2024 16,399,000 3,666 5,318 16,407,984
Depreciation
As at 1 May 2023 - 3,666 5,318 8,984
As at 30 April 2024 - 3,666 5,318 8,984
Net Book Value
As at 30 April 2024 16,399,000 - - 16,399,000
As at 1 May 2023 17,625,000 - - 17,625,000
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,562 5,548
Director's loan account 200,000 -
205,562 5,548
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 122,630
Corporation tax 145,667 11,013
Other taxes and social security 7,246 8,119
Other creditors 10,000 10,000
Accruals and deferred income 3,600 3,000
Amounts owed to associates 51,652 46,652
218,165 201,414
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,314,850 2,806,191
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Azid Sohoye - 200,000 - 200,000 -
The above loan was repaid in full by 15 January 2025.
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 14,800,739
Deficit on revaluation (1,028,000)
As at 30 April 2024 13,772,739
11. Related Party Transactions
Amounts due to related parties consist of £51,651 (2023 £46,651) to 1st Class Lettings Limited. The amounts due are in respect of provision of finance, which is interest free and with no pre-determined term.
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12. Ultimate Controlling Party
The company's ultimate controlling party is  Mr Azid Sohoye and together with members of his family owns  100% of the issued share capital in the company.
Page 5