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REGISTERED NUMBER: 14954986 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2024

for

GREENWOOD HOLDINGS NW LIMITED

GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREENWOOD HOLDINGS NW LIMITED

Company Information
for the Year Ended 31st October 2024







DIRECTOR: Mr G Hughes





SECRETARY: Mrs K Hughes





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 14954986 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)

Balance Sheet
31st October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Investments 4 5,555,700 5,555,700

CURRENT ASSETS
Debtors 5 348,431 58,230
Cash at bank 51,452 866
399,883 59,096
CREDITORS
Amounts falling due within one year 6 437,261 415,248
NET CURRENT LIABILITIES (37,378 ) (356,152 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,518,322

5,199,548

CREDITORS
Amounts falling due after more than one
year

7

3,081,316

3,489,048
NET ASSETS 2,437,006 1,710,500

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 499,990 499,990
Retained earnings 1,937,006 1,210,500
2,437,006 1,710,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)

Balance Sheet - continued
31st October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th February 2025 and were signed by:





Mr G Hughes - Director


GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Greenwood Holdings NW Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on the going concern basis, on the understanding that dividend distributions will continue to be made from the subsidiary,Greenwood Scaffolding Limited, to cover the capital repayment the loan notes as per the terms of the purchase agreement.

Preparation of consolidated financial statements
The financial statements contain information about Greenwood Holdings NW Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the value of services provided to a subsidiary company during the accounting period, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the 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, loans to common controlled companies and cash and bank balances, are initially measured at transaction price including transaction costs. They are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is 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.

Basic Financial Liabilities
Basic financial liabilities, including creditors, 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 receipts 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.


GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st November 2023
and 31st October 2024 5,555,700
NET BOOK VALUE
At 31st October 2024 5,555,700
At 31st October 2023 5,555,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Amounts owed by group undertakings 348,431 58,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other loans 403,361 403,362
Tax - 3,036
Social security and other taxes 6,750 6,750
Directors' current accounts 25,000 -
Accrued expenses 2,150 2,100
437,261 415,248

GREENWOOD HOLDINGS NW LIMITED (REGISTERED NUMBER: 14954986)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Other loans - 1-2 years 403,361 403,361
Other loans - 2-5 years 1,210,084 1,210,084
Other loans more 5yrs instal 1,467,871 1,875,603
3,081,316 3,489,048

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 1,467,871 1,875,603

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Other loans 3,484,677 3,892,410

Included in other loans is £3,484,677 of loan notes. These are secured by way of fixed and floating charges over all property and undertakings of the company and those of its subsidiary, Greenwood Scaffolding Limited, through a cross company guarantee.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Hughes.