Greenco Building Materials Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08330352 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Greenco Building Materials Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Z X Lin

REGISTERED OFFICE:

4th Floor

30 Charing Cross Road

London

W1D 6QQ

REGISTERED NUMBER:

08330352 (England and Wales)

ACCOUNTANTS:

L&W Accountants Limited

30 Charing Cross Road

London

WC2H 0DE

FIXED ASSETS

Intangible assets

4

527

Tangible assets

5

1,120,000

1,120,285

Investment property

6

-

1,769,000

1,120,527

2,889,812

CURRENT ASSETS

Debtors

7

-

186

Cash at bank and in hand

70,475

276,271

70,475

276,457

CREDITORS

Amounts falling due within one year

8

1,018,602

2,506,614

NET CURRENT LIABILITIES

(948,127

)

(2,230,157

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

172,400

659,655

PROVISIONS FOR LIABILITIES

9

30,910

82,020

NET ASSETS

141,490

577,635

CAPITAL AND RESERVES

Called up share capital

10

100,000

Retained earnings

11

41,490

477,635

SHAREHOLDERS' FUNDS

141,490

577,635

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 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.

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 28 September 2025 and were signed by:

Z X Lin - Director

1.	STATUTORY INFORMATION

Greenco Building Materials 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 as modified by the revaluation of certain assets.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

527

NET BOOK VALUE

At 31 December 2024

527

At 31 December 2023

527

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 January 2024

1,120,000

1,276

3,500

1,124,776

Disposals

-

(1,276

)

(3,500

)

(4,776

)

At 31 December 2024

1,120,000

-

1,120,000

DEPRECIATION

At 1 January 2024

-

1,156

3,335

4,491

Charge for year

-

24

55

79

Eliminated on disposal

-

(1,180

)

(3,390

)

(4,570

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

1,120,000

-

1,120,000

At 31 December 2023

1,120,000

120

165

1,120,285

Included in cost or valuation of land and buildings is freehold land of £ 1,120,000 (2023 - £ 1,120,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Freehold

property

£

Valuation in 2024

1,120,000

If follwoing historical cost had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

1,120,000

1,110,000

Aggregate depreciation

4,570

4,406

Value of land in freehold land and buildings

1,120,000

Freehold Land and building was valued on an open market basis on 31 December 2024 by Company Director .

6.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2024

1,769,000

Disposals

(1,769,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,769,000

Included in cost of investment property is freehold land of £ 1,789,160 (2023 - £ 1,789,160 ) which is not depreciated.

The company purchased two properties; One is investment property and the other one is freehold land and building property.

1 Freehold property: 29-31 Hare Street Woolwich SE18 6NE purchased on 20.06.2013 for £413,810 (legal cost £700) and capitalized in the following year until 31.12.2019 total cost £668,158

2 Investment property :33 Milton Avenue, Croydon CR0 2BP purchaed on 31.03.2019 for £178,3100 (Legal cost 5600)

3.During the year, the company disposed of an investment property(33 Milton Avenue, Croydon) which had been held at fair value in accordance with the revaluation model under FRS 102.

The property had a carrying value of £1,769,000 at the date of disposal and was sold for total proceeds of £1,230,000, resulting in a loss on disposal of £539,000, which has been recognised in the profit and loss account.

The property had previously been revalued, and the related revaluation reserve has been transferred to retained earnings on disposal.

During the year, the company disposed of an investment property(33 Milton Avenue, Croydon) which had been held at fair value in accordance with the revaluation model under FRS 102.

The property had a carrying value of £1,769,000 at the date of disposal and was sold for total proceeds of £1,230,000, resulting in a loss on disposal of £539,000, which has been recognised in the profit and loss account.

The property had previously been revalued, and the related revaluation reserve has been transferred to retained earnings on disposal.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

VAT

-

186

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

8,828

-

Tax

13,657

9,478

Directors' current accounts

988,468

2,474,176

Accrued expenses

7,649

22,960

1,018,602

2,506,614

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

Other timing differences

5,700

Deferred tax

25,210

76,320

30,910

82,020

Deferred

tax

£

Balance at 1 January 2024

82,020

Credit to Income Statement during year

(51,110

)

Balance at 31 December 2024

30,910

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100,000

Ordinary

1

100,000

11.

RESERVES

Retained

earnings

£

At 1 January 2024

477,635

Deficit for the year

(436,145

)

At 31 December 2024

41,490