GREENSANDS LIMITED

Company Registration Number:
05395949 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

GREENSANDS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GREENSANDS LIMITED

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

The principal activity of the Company remains that of property ownership and management.

Additional information

The results of the Company for the year show a profit after tax of £8,587k (2023: £4,315k). The company paid no dividend during the year (2023: £nil).



Directors

The directors shown below have held office during the whole of the period from
1 October 2023 to 30 September 2024

Richard Calvert
David Smith


Secretary Paul Wells

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 May 2025

And signed on behalf of the board by:
Name: David Smith
Status: Director

GREENSANDS LIMITED

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 4,497,000 4,497,000
Gross profit(or loss): 4,497,000 4,497,000
Operating profit(or loss): 4,497,000 4,497,000
Profit(or loss) before tax: 4,497,000 4,497,000
Tax: 4,090,703 ( 182,370 )
Profit(or loss) for the financial year: 8,587,703 4,314,630

GREENSANDS LIMITED

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 57,952,000 57,952,000
Total fixed assets: 57,952,000 57,952,000
Creditors: amounts falling due within one year: 4 ( 18,556,038 ) ( 23,053,038 )
Net current assets (liabilities): (18,556,038) (23,053,038)
Total assets less current liabilities: 39,395,962 34,898,962
Provision for liabilities: ( 9,615,169 ) ( 3,565,048 )
Total net assets (liabilities): 29,780,793 31,333,914
Capital and reserves
Called up share capital: 1,040 1,040
Share premium account: 25,699,747 25,699,747
Other reserves: (10,063,223) 77,601
Profit and loss account: 14,143,229 5,555,526
Total Shareholders' funds: 29,780,793 31,333,914

The notes form part of these financial statements

GREENSANDS LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 1 May 2025
and signed on behalf of the board by:

Name: David Smith
Status: Director

The notes form part of these financial statements

GREENSANDS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    The total turnover of the Company for the year has been derived entirely from its principal activity wholly undertaken in the United Kingdom.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows: Long leasehold property 2% Land 0% Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life. They are reviewed annually and adjusted if necessary.

    Valuation information and policy

    The key accounting estimate in preparing these financial statements relates to the carrying value of the long leasehold property which is stated at fair value. The company uses professional external valuers, lease terms, market conditions and sales prices based upon known market transactions for similar properties as a basis for determining the directors’ estimation of the fair value of the long leasehold property. However, the valuation of the company’s long leasehold property is inherently subjective, as it is made on the basis of valuation assumptions which may in future not prove to be accurate.

    Other accounting policies

    Going concern The Company forms part of the larger Club Company Group and the Directors assess Going Concern as part of the wider Group. The Company has ongoing financial support from companies within the Group if required. In that context, in the year ended 30th September 2024, the Directors prepared forecasts and projections taking account of reasonable possible changes in trading fo the Group performance. These forecasts and projections show that the Company has the financial resources to continue in operational existence for the foreseeable future. Accordingly, at the time of approving the financial statements, the Directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future, and there is no material uncertainty in relation to going concern.

GREENSANDS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

GREENSANDS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 57,952,000 57,952,000
Additions
Disposals
Revaluations
Transfers
At 30 September 2024 57,952,000 57,952,000
Depreciation
At 1 October 2023 0 0
Charge for year
On disposals
Other adjustments
At 30 September 2024 0 0
Net book value
At 30 September 2024 57,952,000 57,952,000
At 30 September 2023 57,952,000 57,952,000

Freehold and long leasehold properties with a carrying amount of £57,952k at the year-end were revalued as at 1 June 2017 by Christie & Co, Chartered Surveyors, on an existing use open market value basis, in accordance with the Guidance Notes of the Royal Institution of Chartered Surveyors. Christie & Co are not connected with the Group. The valuation was based on recent market transactions on an arm’s length basis for similar properties. The Directors are satisfied that no adjustments to the carrying values of fixed assets are required at 30 September 2024.

GREENSANDS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 18,556,038 23,053,038
Total 18,556,038 23,053,038

Other creditors is amounts due to subsidiaries