| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Greenaway & Greenaway Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Greenaway & Greenaway Limited |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 10 |
| Greenaway & Greenaway Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 9 Western Road |
| Launceston |
| Cornwall |
| PL15 7AR |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Statement of Financial Position |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Statement of Financial Position - continued |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 12 |
| Revaluation reserve | 12 |
| Fair value reserve | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Greenaway & Greenaway Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Freehold property is re-valued from time to time and any depreciation accounted for up to the date of valuation is reversed. |
| 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. |
| The movement in the profit and loss reserve is then moved to the non distributable fair value reserve, to the extent that the balance is positive. Deferred taxation is provided on gains at the rate expected to apply when the property is sold. When costs exceed market value, a corresponding deferred tax asset is offset against deferred tax due on other timing differences. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| The freehold property was valued by Alex Woodward, BSc(Hons) Dip Surv MRICS, on 17th May 2021, on behalf of Stratton Creber Commercial, Plymouth, using RICS valuation - Global Standards, incorporating the International Valuation Standards. Freehold property was valued at £1,375,000. |
| The directors do not believe there has been sufficient change in the market to undertake another valuation, and so freehold property is valued as per last year, plus additional capital expenditure of £23,765 incurred since. |
| Cost or valuation at 31 March 2025 is represented by: |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2021 | (949,521 | ) | - | - | - | (949,521 | ) |
| Valuation in 2015 | (6,641 | ) | - | - | - | (6,641 | ) |
| Valuation in 2013 | 1,419,449 | - | - | - | 1,419,449 |
| Valuation in 1999 | 73,359 | - | - | - | 73,359 |
| Cost | 862,119 | 1,178,550 | 39,036 | 152,584 | 2,232,289 |
| 1,398,765 | 1,178,550 | 39,036 | 152,584 | 2,768,935 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| The investment property was valued by Alex Woodward, BSc(Hons) Dip Surv MRICS on the 17th May 2021, on behalf of Stratton Creber Commercial, Plymouth, using RICS valuation - Global Standards, incorporating the International Valuation Standards. The investment property was valued at a total of £2,945,000. |
| The directors do not believe there has been sufficient change in the market to undertake another valuation and so investment property is valued as per last year, plus additional capital expenditure of £1,166,233 incurred since. |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2021 | 1,156,511 |
| Valuation in 2017 | 67,753 |
| Cost | 2,886,969 |
| 4,111,233 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loans |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loans |
| The loans from Barclays are secured on land at Transport House, Stratton, Bude, Cornwall. The loans from Svenska Handelsbanken are secured on land and property at Kings Hill Industrial Estate, Bude, Cornwall and property at Birlea Business Park, Stratton, Bude, Cornwall. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Deferred tax | 466,501 | 471,584 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 March 2025 |
| 12. | RESERVES |
| Fair |
| Retained | Share | Revaluation | value |
| earnings | premium | reserve | reserve | Totals |
| £ | £ | £ | £ | £ |
| At 1 April 2024 | 3,246,875 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Deferred tax adjustment | (5,277 | ) | - | 5,277 | - | - |
| Depreciation | 27,836 | - | (27,836 | ) | - | - |
| At 31 March 2025 | 3,479,207 |
| Greenaway & Greenaway Limited (Registered number: 00695972) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Directors loan account |
| The loan from Mr John Greenaway to the company is charged at an interest rate of the Bank of England base rate +4% and is repayable on demand. Interest was charged in the year of £44,379 (2024 - £46,250). |
| 14. | RELATED PARTY DISCLOSURES |
| During the year, the company entered into transactions (detailed below) with the following businesses: |
| Launceston Self Storage Ltd |
| Mr John Greenaway (shareholder and director) owns a 50% share and is the director of Launceston Self Storage Ltd. |
| As at 31 March 2025 this company was owed £265,823 (2024 - £419,322) by Launceston Self Storage Ltd. During the year interest was charged on this loan of £22,267 (2024 - £40,445). |
| During the year, this company made gross sales to Launceston Self Storage Ltd of £34,856 (2024 - £25,507), with a balance of £11,294 owing at 31 March 2025 (2024 - £6,496). |
| During the year, this company made no purchases from Launceston Self Storage Ltd (2024 - £Nil) with no balance owing at 31 March 2025 (2024 - £nil). |
| Oilmasters Cornwall Ltd |
| Mr John Greenaway (shareholder and director) owns a 50% share and is the director of Oilmasters Cornwall Ltd. |
| As at 31 March 2025 this company owed Oilmasters Cornwall Ltd £13,200 (2024 was owing £2,700). There was no interest charged in the year (2024 - £nl). |
| Greenaway & Greenaway Ltd Pension Scheme |
| Since November 2024 rent of £7,500 has been paid to Greenaway & Greenaway Ltd Pension Scheme. John Greenaway and Mrs Ruth Greenaway are the beneficiaries. |
| 15. | ULTIMATE CONTROLLING PARTY |
| John Greenaway by virtue of his shareholding and directorship, controls the company. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Greenaway & Greenaway Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greenaway & Greenaway Limited for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Greenaway & Greenaway Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greenaway & Greenaway Limited and state those matters that we have agreed to state to the Board of Directors of Greenaway & Greenaway Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greenaway & Greenaway Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Greenaway & Greenaway Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Greenaway & Greenaway Limited. You consider that Greenaway & Greenaway Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Greenaway & Greenaway Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 9 Western Road |
| Launceston |
| Cornwall |
| PL15 7AR |