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Registered number: 11233707
Green Lane Properties London Ltd
Unaudited Financial Statements
For The Year Ended 28 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11233707
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 225,000 225,000
225,000 225,000
CURRENT ASSETS
Debtors 5 51,279 42,054
Cash at bank and in hand 6,374 78,545
57,653 120,599
Creditors: Amounts Falling Due Within One Year 6 (18,193 ) (45,304 )
NET CURRENT ASSETS (LIABILITIES) 39,460 75,295
TOTAL ASSETS LESS CURRENT LIABILITIES 264,460 300,295
Creditors: Amounts Falling Due After More Than One Year 7 (244,043 ) (253,313 )
NET ASSETS 20,417 46,982
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 10 42,333 42,333
Profit and Loss Account (22,016 ) 4,549
SHAREHOLDERS' FUNDS 20,417 46,982
Page 1
Page 2
For the year ending 28 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.
On behalf of the board
W D Hickson
Director
25/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Green Lane Properties London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11233707 . The registered office is Woodgate House, 2-8 Games Road, Barnet, EN4 9HN.
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. 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.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 29 March 2023 and 28 March 2024 225,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 51,279 42,054
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 9,849 9,849
Other creditors 5,661 32,772
Taxation and social security 2,683 2,683
18,193 45,304
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 244,043 253,313
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 29 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 March 2024
£ £ £ £ £
Mr William Hickson 8,159 5,929 8,159 - 5,929
The above loan is unsecured, interest free and repayable on demand.
10. Reserves
Fair Value Reserve
£
As at 29 March 2023 42,333
As at 28 March 2024 42,333
Page 4