Greenrock Land & Property Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08946537 (England and Wales)

Greenrock Land & Property Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr H J Covington

Mr P C Gowing

REGISTERED OFFICE:

Unit 7

The Enterprise Centre

Bell Lane

Uckfield

East Sussex

TN22 1QL

REGISTERED NUMBER:

08946537 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Tangible assets

4

-

Investments

5

200

CURRENT ASSETS

Stocks

2,174,995

2,134,232

Debtors

6

756,828

979,161

Cash at bank

110,020

56,906

3,041,843

3,170,299

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

1,551,899

2,171,854

NET CURRENT ASSETS

1,489,944

998,445

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,490,144

998,645

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

500,000

-

NET ASSETS

990,144

998,645

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

990,044

998,545

SHAREHOLDERS' FUNDS

990,144

998,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

Mr P C Gowing - Director

1.	STATUTORY INFORMATION

Greenrock Land & Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Greenrock Land & Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less a provision for any impairment.

Stocks

Property in the course of development and completed units are valued at the lower of cost and net realisable value. Direct cost comprises the cost of land, raw materials and development costs but excludes indirect overheads. Provision is made, where appropriate, to reduce the value of stock and work in progress to their net realisable value.

Land purchased for development, including land in the course of development, is initially recorded at cost. Where such land is purchased on deferred settlement terms, and the cost differs from the amount that will subsequently be paid in settling the liability, this difference is charged as a finance cost in the Profit and Loss Account over the period to settlement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deposits

New property deposits and on account contract receipts are held within creditors (amounts falling within one year).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

7,000

DEPRECIATION

At 1 April 2024

and 31 March 2025

7,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

200

NET BOOK VALUE

At 31 March 2025

200

At 31 March 2024

200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by group undertakings

385,512

380,547

Other debtors

371,316

598,614

756,828

979,161

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

14,760

-

Amounts owed to group undertakings

13,705

7,857

Taxation and social security

-

703

Other creditors

1,523,434

2,163,294

1,551,899

2,171,854

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other creditors

500,000

-

Amounts falling due in more than five years:

Repayable by instalments

Other loans

500,000

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Other loans

500,000

571,660

Bank borrowings are secured by way of fixed and floating charges over the relevant properties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed amounts totalling £1,485,491 (2024 - £1,471,158) to a director. This balance is unsecured and repayable on demand. Interest is charged at 3% on balances over £1,000,000.

During the year the company made advances to another director totalling £25,000 (2024 - £290,000) and was repaid £129,000 (2024 - £215,000). In addition, the company charged interest during the year at the beneficial rate of interest amounting to £1,375 (2024 - £1,858). At the balance sheet date the company owed the director £25,767 (2024 - £76,858 owed to the company). The loan is unsecured and repayable on demand.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £353,911 (2024 - £521,756) by a company with similar directors. This loan is unsecured, interest free and repayable on demand.