Project Green Town Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09920125 (England and Wales)

Financial Statements for the Year Ended 31 December 2018

for

Project Green Town Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L Lei

B M O'Neill

REGISTERED OFFICE:

First Floor, Unit 9 Old Field Road

Bocam Park

Pencoed

Bridgend

CF35 5LJ

REGISTERED NUMBER:

09920125 (England and Wales)

AUDITORS:

Marsh Vision Limited

Chartered Certified Accountants

Statutory Auditors

Chester House

17 Gold Tops

Newport

SOUTH WALES

NP20 4PH

FIXED ASSETS

Investments

3

100

100

CURRENT ASSETS

Debtors

4

1,066,640

1,065,805

Cash at bank

24

506

1,066,664

1,066,311

CREDITORS

Amounts falling due within one year

5

1,063,855

1,060,636

NET CURRENT ASSETS

2,809

5,675

TOTAL ASSETS LESS CURRENT LIABILITIES

2,909

5,775

CAPITAL AND RESERVES

Called up share capital

6

200

200

Retained earnings

2,709

5,575

SHAREHOLDERS' FUNDS

2,909

5,775

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 17 January 2020 and were signed on its behalf by:

B M O'Neill - Director

1.	STATUTORY INFORMATION

Project Green Town 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 Project Green Town 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.

Related party exemption

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements

as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity

instrument is any contract that evidences a residual interest in the assets of the company after deducting all its

liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate

of interest for a similar debt instrument.

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.

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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

100

NET BOOK VALUE

At 31 December 2018

100

At 31 December 2017

100

The company's investments at the Statement of Financial Position date in the share capital of companies includes

the following:

Green Town (Heartlands) Limited

Registered in England & Wales

Class of Share: Ordinary shares of £1 each

% of shareholding: 100%

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed by related parties

65,960

65,110

Other debtors

1,000,000

1,000,000

Tax

623

623

VAT

-

15

Prepayments

57

57

1,066,640

1,065,805

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

-

88

Amounts owed to related parties

1,060,480

1,057,520

Accruals and deferred income

3,375

3,028

1,063,855

1,060,636

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary A Shares

£1

100

100

100

Ordinary B Shares

£1

100

100

200

200

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S MARSH (Senior Statutory Auditor)

for and on behalf of Marsh Vision Limited

8.	OFF-BALANCE SHEET ARRANGEMENTS

The company has a charge over its share capital along with a debenture in relation to a loan provided to Green

Town (Heartlands) Limited (Company No 09938922 being a wholly owned subsidiary), by a third party lender.

9.	RELATED PARTY DISCLOSURES

Related Party

Relationship

Amount due from / (to related party

)

Green Town (Heartlands) Limited

Subsidiary

£65,510

Greentown International Limited

Joint controlling party

£100

Talick UK Limited

Joint controlling party

£100

WELink Energy (UK) Limited

Common ultimate controlling party

(£1,060,480

)

WELink Energy Services (UK) Limited

Common ultimate controlling party

£250

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B M O'Neill.

The largest and smallest group for which group financial statements are prepared, and of which the company is a

member, is as follows:

Name:

ABLEON Limited

Country of Incorporation:

Ireland

Address from where copies of the

22 Avoca Wood

Group financial statements can be

Avoca

obtained:

Co. Wicklow