0 Greenwich Property Estates Ltd 10339200 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 10339200 2023-09-01 2024-08-31 10339200 2024-08-31 10339200 core:CurrentFinancialInstruments 2024-08-31 10339200 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10339200 core:Non-currentFinancialInstruments 2024-08-31 10339200 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 10339200 bus:SmallEntities 2023-09-01 2024-08-31 10339200 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10339200 bus:FilletedAccounts 2023-09-01 2024-08-31 10339200 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10339200 bus:RegisteredOffice 2023-09-01 2024-08-31 10339200 bus:Director1 2023-09-01 2024-08-31 10339200 bus:Director2 2023-09-01 2024-08-31 10339200 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10339200 bus:Agent1 2023-09-01 2024-08-31 10339200 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-09-01 2024-08-31 10339200 core:OtherRelatedParties 2023-09-01 2024-08-31 10339200 countries:England 2023-09-01 2024-08-31 10339200 2023-08-31 10339200 2022-09-01 2023-08-31 10339200 2023-08-31 10339200 core:CurrentFinancialInstruments 2023-08-31 10339200 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10339200 core:Non-currentFinancialInstruments 2023-08-31 10339200 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10339200

Greenwich Property Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Greenwich Property Estates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Greenwich Property Estates Ltd

Company Information

Directors

Richard Murray

Sinead Murray

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Greenwich Property Estates Ltd

(Registration number: 10339200)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

300,000

300,000

Current assets

 

Debtors

5

500

500

Cash at bank and in hand

 

2,023

1,628

 

2,523

2,128

Creditors: Amounts falling due within one year

6

(114,995)

(118,100)

Net current liabilities

 

(112,472)

(115,972)

Total assets less current liabilities

 

187,528

184,028

Creditors: Amounts falling due after more than one year

6

(234,782)

(234,752)

Net liabilities

 

(47,254)

(50,724)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(47,256)

(50,726)

Shareholders' deficit

 

(47,254)

(50,724)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Greenwich Property Estates Ltd

(Registration number: 10339200)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Sinead Murray
Director

 

Greenwich Property Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

These financial statements were authorised for issue by the Board on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its debts as they fall due. However, at the end of the year the company had net liabilities of £47,254 (2023: £50,724). The directors believe it is appropriate to prepare the financial statements on a going concern basis, as they have agreed to financially support the company for the foreseeable future.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

Greenwich Property Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and when the service is performed, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

Investment property

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Greenwich Property Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4

Investment properties

2024
£

At 1 September

300,000

At 31 August

300,000

The fair value of the investment property has been arrived at by the directors knowledge of the market at the year end.

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

The mortgage shown in the financial statements is secured on the above investment property.

 

Greenwich Property Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

500

500

 

500

500

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,170

2,226

Other creditors

113,825

115,874

114,995

118,100

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

234,782

234,752

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

2

2

2

2

 

Greenwich Property Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

234,782

234,752

9

Related party transactions

Summary of transactions with all entities with joint control or significant interest

ICS South East Ltd
(company under common control)
During the year £3,000 (2023: £4,125) loan was repaid to the associated company. At the balance sheet date, ICS South East Ltd was owed £71,857 (2023: £74,857).

Summary of transactions with other related parties

S and R Murray
(Directors)
During the year, the directors transferred £950 funds into the business. Also, £36,637 (2023: £33,763) was refunded to the directors for management fees paid on behalf of the business. At the balance sheet date, they were owed £41,969 (2023: £41,019).