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Registered number: 08130528
GREEN GP PROPERTY LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2024
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GREEN GP PROPERTY LIMITED
REGISTERED NUMBER: 08130528
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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GREEN GP PROPERTY LIMITED
REGISTERED NUMBER: 08130528
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024
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 23 December 2025.
The notes on pages 4 to 13 form part of these financial statements.
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GREEN GP PROPERTY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
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Restated at 1 November 2022
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Comprehensive income for the year
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Total comprehensive income for the year
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Restated at 1 November 2023
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 4 to 13 form part of these financial statements.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office and principal place of business is The Green Group, Warwick Road, Maltby, Rotherham, South Yorkshire, S66 8EW.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
Green GP Property Limited made a loss after tax of £17,276 (2024: £8,646 profit) during the year ended 31 October 2024 and at that date had net liabilities of £297,670 (2024: £280,394) and net current liabilities of £1,090,356 (2024: £1,043,798). The company also had negative retained earnings of £297,770 at the year-end.
The current and future financial position of the Company have been reviewed by the Directors to ensure that cash flows and liquidity are sufficiently robust to allow the Company to continue to trade during this period. The Company relies on support from The Green Group and also the director, Pete Osborne. The Directors are confident that there is sufficient headroom to meet the forecast cash requirements during the twelve months from the date of approval of the financial statements having considered any additional requirements that would be contingent on a downturn in activity over the same period.
Rental income
Revenue represents the fair value of income derived from the company’s principal activities, net of value added tax.
Rental income is recognised on a straight-line basis over the period of the lease. Rental income is recognised from the point at which the tenant obtains the right to occupy the property and continues to be recognised until the tenancy ends.
Other operating income
Option fees and other non-recurring income are recognised when the company’s contractual obligations have been fulfilled, the amount of consideration can be measured reliably, and it is probable that the economic benefits will flow to the company. Option and arrangement fees received in respect of proposed property transactions are recognised as income when the counterparty has no further right of refund or the underlying agreement has lapsed. Receipts that do not form part of the company’s ordinary trading activities are included within Other Operating Income.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
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 profit or loss.
Investment property is carried at fair value determined annually by the directors under their knowledge and expertise of the properties in their respective market, 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.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
Cost is based on the cost of purchase on a first-in, first-out basis and includes all directly attributable expenditure in bringing each asset to its current condition and location.
Land and property held for development are included within stocks at the lower of cost and net realisable value. Cost comprises the purchase price of land and related acquisition expenses together with direct development costs and an appropriate proportion of attributable overheads.
Net realisable value represents the estimated selling price of the completed property less all estimated costs to complete and costs to sell.
At each reporting date, inventories are reviewed for impairment. Where the carrying amount exceeds net realisable value, a provision is made and the loss is recognised immediately in profit or loss.
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.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Charge for the year on owned assets
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Restated at 31 October 2023
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(As restated) Freehold investment property
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The 2024 valuations were made by the directors, on an open market value for existing use basis. The directors are of the view that there were no changes in valuation compared to their 2023 valuation.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Included within work in progress is a quarry and its surrounding land, which is currently being redeveloped.
Ibstock Brick Limited hold a charge over the land on the north side of Bawtry Road, Maltby, where the quarry is located.
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Prepayments and accrued income
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Cash and cash equivalents
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The bank loans are secured by fixed & floating charges over the freehold properties owned by the company. This charge also contains a negative pledge. The loans are repayable over terms of up to 20 years and bear interest at fixed and variable rates.
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Creditors: Amounts falling due after more than one year
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The bank loans are secured by fixed & floating charges over the freehold properties owned by the company. This charge also contains a negative pledge. The loans are repayable over terms of up to 20 years and bear interest at fixed and variable rates.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
12.Deferred taxation (continued)
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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The prior year has been restated based on the directors' valuation of the fixed asset investments held by the Company. The revaluations have impaired the values by £259,414 in the prior year. With this adjustment there has also been an impact on the deferred tax position in which £478,102 has been recognised as a deferred tax liability in the prior year.
Furthermore, there has been a reclassification in the prior year between fixed assets and stocks and work in progress. The quarry held by the Company, valued at cost of £1,130,894, has been reclassified to stocks and work in progress.
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Commitments under operating leases
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At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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15.Other financial commitments
The company's bankers have a debenture over all the company's assets and have a fixed and floating charge over all the assets dated 8th May 2015. An unlimited multilateral guarantee has been provided to its bankers by the following companies: Green Group International Limited, Green GRP Logistics Limited, Green GRP Pallet Network Limited, Green Europe Solutions Limited, Green GRP Int Limited, Green GRP Warehousing Limited, Moto Logix Limited, Pete Osborne Holdings Limited, Green GP Property Limited and Team O Solutions Limited.
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GREEN GP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Related party transactions
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During the year, £798,980 was advanced by Green GRP Logistics Ltd, a company under common control. At the year end the balance due to this company was £8,907,417 (2023: £8,108,437).
During the year, £127,603 was advanced to Team O Solutions Limited, a company under common control. At the year end the balance due to this company was £6,895,131 (2023: £6,767,528).
During the year, £282,288 was advanced to Alliance Racing Limited, a company under common control. At the year end the balance due to this company was £282,288 (2023: £nil).
During the year, Pete Osborne, the ultimate owner of the company, was owed £86,976 (2023: £675,700) by the company. During the year, £588,724 was advanced to Pete Osborne.
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The ultimate controlling party is Mr P G Osborne by virtue of his shareholding in the parent company, Osborne Properties Holdings Limited.
The auditors' report on the financial statements for the year ended 31 October 2024 was unqualified.
The audit report was signed on 23 December 2025 by Paul Laxton FCCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.
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