Silverfin false false 31/10/2024 01/11/2023 31/10/2024 J G Greenslade 25/01/1991 R F M Greenslade 25/01/1991 M J Greenslade 25/01/1991 11 February 2025 The principal activity of the Company during the financial year was of tour operators and property management. 00571610 2024-10-31 00571610 bus:Director1 2024-10-31 00571610 bus:Director2 2024-10-31 00571610 bus:Director3 2024-10-31 00571610 2023-10-31 00571610 core:CurrentFinancialInstruments 2024-10-31 00571610 core:CurrentFinancialInstruments 2023-10-31 00571610 core:Non-currentFinancialInstruments 2024-10-31 00571610 core:Non-currentFinancialInstruments 2023-10-31 00571610 core:ShareCapital 2024-10-31 00571610 core:ShareCapital 2023-10-31 00571610 core:RetainedEarningsAccumulatedLosses 2024-10-31 00571610 core:RetainedEarningsAccumulatedLosses 2023-10-31 00571610 core:FurnitureFittings 2023-10-31 00571610 core:FurnitureFittings 2024-10-31 00571610 core:CostValuation 2023-10-31 00571610 core:AdditionsToInvestments 2024-10-31 00571610 core:RevaluationsIncreaseDecreaseInInvestments 2024-10-31 00571610 core:CostValuation 2024-10-31 00571610 bus:OrdinaryShareClass1 2024-10-31 00571610 2023-11-01 2024-10-31 00571610 bus:FilletedAccounts 2023-11-01 2024-10-31 00571610 bus:SmallEntities 2023-11-01 2024-10-31 00571610 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 00571610 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 00571610 bus:Director1 2023-11-01 2024-10-31 00571610 bus:Director2 2023-11-01 2024-10-31 00571610 bus:Director3 2023-11-01 2024-10-31 00571610 core:FurnitureFittings 2023-11-01 2024-10-31 00571610 2022-11-01 2023-10-31 00571610 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 00571610 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00571610 (England and Wales)

GREENSLADE DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

GREENSLADE DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

GREENSLADE DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 October 2024
GREENSLADE DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 512 572
Investment property 4 505,000 470,000
Investments 5 43,790 37,487
549,302 508,059
Current assets
Debtors 6 371 2,077
Cash at bank and in hand 152,029 199,451
152,400 201,528
Creditors: amounts falling due within one year 7 ( 70,397) ( 87,680)
Net current assets 82,003 113,848
Total assets less current liabilities 631,305 621,907
Creditors: amounts falling due after more than one year 8 ( 6,239) ( 12,428)
Provision for liabilities ( 47,113) ( 40,510)
Net assets 577,953 568,969
Capital and reserves
Called-up share capital 9 30,000 30,000
Profit and loss account 10 547,953 538,969
Total shareholders' funds 577,953 568,969

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Greenslade Developments Limited (registered number: 00571610) were approved and authorised for issue by the Board of Directors on 11 February 2025. They were signed on its behalf by:

J G Greenslade
Director
M J Greenslade
Director
GREENSLADE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
GREENSLADE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Greenslade Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 1 Osborne Rise, Taunton, TA1 4PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the sale of holidays and is recognised based on holidays with a departure date during the accounting period. Amounts received in respect of holidays with a departure date after the accounting period end are included in deferred income.

Rental income is recognised on an accruals basis in the period that the property is let.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Fixtures and fittings 10 - 25 % reducing balance

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation of each asset on a reducing balance basis over its expected useful life, as above.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2023 4,484 4,484
At 31 October 2024 4,484 4,484
Accumulated depreciation
At 01 November 2023 3,912 3,912
Charge for the financial year 60 60
At 31 October 2024 3,972 3,972
Net book value
At 31 October 2024 512 512
At 31 October 2023 572 572

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 470,000
Fair value movement 35,000
As at 31 October 2024 505,000

The investment properties owned by the company were revalued by the director, Mr J G Greenslade, who is internal to the company, on 31 October 2024 on an open market basis. The original cost of the revalued properties was £147,991 (2023: £147,991).

There has been no valuation of investment property by an independent valuer.

The fair value of the investment properties has not materially changed since this date.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 November 2023 37,487 37,487
Additions 4,553 4,553
Movement in fair value 1,750 1,750
At 31 October 2024 43,790 43,790
Carrying value at 31 October 2024 43,790 43,790
Carrying value at 31 October 2023 37,487 37,487

6. Debtors

2024 2023
£ £
Prepayments and accrued income 371 2,077

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,159 6,000
Trade creditors 9,769 0
Amounts owed to directors 41,981 67,009
Accruals and deferred income 6,080 7,514
Other taxation and social security 88 75
Other creditors 6,320 7,082
70,397 87,680

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,239 12,428

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
30,000 Ordinary shares of £ 1.00 each 30,000 30,000

10. Reserves

Reserves

As at 31 October 2024, the profit and loss account included £318,517 (2023: £290,135) of non-distributable reserves. This relates to the revaluation surplus on the investment properties.