REGISTERED NUMBER: 11558363 (England and Wales)

Green Quarter 7 Development Ltd

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

H Crocker

P Crocker

Registered office:

35 Ballards Lane

London

N3 1XW

Registered number:

11558363 (England and Wales)

Current assets

Debtors

4

173,839

274,868

Cash at bank

-

82,916

173,839

357,784

Creditors

Amounts falling due within one year

5

137,722

276,472

Net current assets

36,117

81,312

Total assets less current liabilities

36,117

81,312

Capital and reserves

Called up share capital

6

1

1

Retained earnings

36,116

81,311

Shareholders' funds

36,117

81,312

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

H Crocker - Director

1.	Statutory information

Green Quarter 7 Development Ltd 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical costs convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of trading properties.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank, trade and other receivables, equity investments and trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash at bank and in hand

Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction

costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

Financial Liabilities - classified as basic financial instruments

(i) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

Going concern

In the opinion of the Directors, based on the Company's budgets and financial projections, they have satisfied themselves that the business is a going concern. The Directors have reasonable expectations that the Company has adequate resources to continue for a period of at least 12 months from authorisation of the financial statements and therefore consider that the going concern basis of accounting is applicable.

3.	Employees and directors

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

4.

Debtors: amounts falling due within one year

2024

2023

£

£

Amounts owed by group undertakings

173,839

248,351

VAT

-

26,517

173,839

274,868

5.

Creditors: amounts falling due within one year

2024

2023

£

£

Amounts owed to group undertakings

-

42,264

Other creditors

64,436

185,923

Accruals and deferred income

73,286

48,285

137,722

276,472

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary share capital

£1

1

1

7.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

As at the year end the company has an outstanding balance with related parties. This is shown below, with positive balances indicating debtors and negative balances indicating creditors.

Company

Relation

2024

2023

Delph Property Developments Limited

Company under common control

-

(42,264

)

All loans are unsecured, interest free and repayable on demand.

8.	Ultimate controlling party

The immediate parent company is Delph Properties Manchester 2 Limited and the ultimate parent company is Wigmore Investments (UK) Limited. Both are incorporated and registered in England and Wales, whose registered address is 35 Ballards Lane, London, N3 1XW..