Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-304true2023-12-01falseproperty investment4falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03471973 2023-12-01 2024-11-30 03471973 2022-12-01 2023-11-30 03471973 2024-11-30 03471973 2023-11-30 03471973 c:Director2 2023-12-01 2024-11-30 03471973 d:FurnitureFittings 2023-12-01 2024-11-30 03471973 d:FurnitureFittings 2024-11-30 03471973 d:FurnitureFittings 2023-11-30 03471973 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03471973 d:CurrentFinancialInstruments 2024-11-30 03471973 d:CurrentFinancialInstruments 2023-11-30 03471973 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 03471973 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03471973 d:ShareCapital 2024-11-30 03471973 d:ShareCapital 2023-11-30 03471973 d:RetainedEarningsAccumulatedLosses 2024-11-30 03471973 d:RetainedEarningsAccumulatedLosses 2023-11-30 03471973 c:FRS102 2023-12-01 2024-11-30 03471973 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 03471973 c:FullAccounts 2023-12-01 2024-11-30 03471973 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03471973 2 2023-12-01 2024-11-30 03471973 6 2023-12-01 2024-11-30 03471973 2 2024-11-30 03471973 2 2023-11-30 03471973 f:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 03471973









GREENTREE ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
GREENTREE ESTATES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
GREENTREE ESTATES LIMITED
REGISTERED NUMBER: 03471973

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,134
1,284

Investments
 5 
123,024
113,861

Investment property
  
6,427,993
-

  
6,552,151
115,145

Current assets
  

Stocks
 7 
11,627,843
13,939,320

Debtors
 8 
10,803,219
13,975,398

Cash at bank and in hand
 9 
302,375
1,932,282

  
22,733,437
29,847,000

Creditors: amounts falling due within one year
 10 
(1,152,671)
(4,349,292)

Net current assets
  
 
 
21,580,766
 
 
25,497,708

Total assets less current liabilities
  
28,132,917
25,612,853

  

Net assets
  
28,132,917
25,612,853


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
28,132,817
25,612,753

  
28,132,917
25,612,853


Page 1

 
GREENTREE ESTATES LIMITED
REGISTERED NUMBER: 03471973
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 August 2025.




S Mattey
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Greentree Estates Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 03471973. The address of the registered office is Lawrence House, Goodwyn Avenue, Mill Hill, London, NW7 3RH. The principal activity of the company is that of buying and selling real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the amounts received in respect of lease extensions and freehold sales.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 3

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of Comprehensive Income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors 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. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

Stocks

Unsold properties held for resale are stated at the lower of cost and net realisable value. Cost includes all ancillary expenses of purchase. Sums received for lease period extensions are deducted from the original cost where the company owns the relevant freehold reversions.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.
Page 5

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4)

Page 6

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 December 2023
13,496



At 30 November 2024

13,496



Depreciation


At 1 December 2023
12,212


Charge for the year on owned assets
150



At 30 November 2024

12,362



Net book value



At 30 November 2024
1,134



At 30 November 2023
1,284

Page 7

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 December 2023
1,002
222,976
223,978


Disposals
-
(12,536)
(12,536)



At 30 November 2024

1,002
210,440
211,442



Impairment


At 1 December 2023
-
110,117
110,117


Charge for the period
-
(21,699)
(21,699)



At 30 November 2024

-
88,418
88,418



Net book value



At 30 November 2024
1,002
122,022
123,024



At 30 November 2023
1,002
112,859
113,861

Page 8

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


Additions at cost
6,427,993



At 30 November 2024
6,427,993

The 2024 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:




7.


Stocks

2024
2023
£
£

Stock of properties for resale
11,627,843
13,939,320

11,627,843
13,939,320



8.


Debtors

2024
2023
£
£



Amounts owed by group undertakings
5,150,001
5,516,414

Other debtors
5,649,368
8,364,754

Prepayments and accrued income
3,850
94,230

10,803,219
13,975,398


Page 9

 
GREENTREE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
302,375
1,932,282

302,375
1,932,282



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
21,120
-

Amounts owed to group undertakings
-
453,090

Other taxation and social security
45,132
30,233

Other creditors
1,086,419
3,865,969

1,152,671
4,349,292



11.


Related party transactions

During the year the following transactions occurred:


Loans due from/(to) at 30/11/2024
Loans due from/(to) at 30/11/2023
£
£

Entities over which the entity has common control, joint control or significant 
influence
5,150,001
5,063,324

 
Page 10