Greenmead Ad Limited - Limited company accounts 18.2

REGISTERED NUMBER: 10905606 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Greenmead AD Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

C J R Sheldon

M Hammond

REGISTERED OFFICE:

C/O Foresight Group

The Shard

32 London Bridge Street

London

SE1 9SG

REGISTERED NUMBER:

10905606 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 December 2019.

DIRECTORS

C J R Sheldon has held office during the whole of the period from 1 January 2019 to the date of this report.

Other changes in directors holding office are as follows:

M Hammond - appointed 20 December 2019

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements

in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under

that law the directors have elected to prepare the financial statements in accordance with United

Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and

applicable law). Under company law the directors must not approve the financial statements unless

they are satisfied that they give a true and fair view of the state of affairs of the company and of

the profit or loss of the company for that period. In preparing these financial statements, the

directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show

and explain the company's transactions and disclose with reasonable accuracy at any time the

financial position of the company and enable them to ensure that the financial statements comply

with the Companies Act 2006. They are also responsible for safeguarding the assets of the

company and hence for taking reasonable steps for the prevention and detection of fraud and

other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

C J R Sheldon - Director

8 July 2020

TURNOVER

-

-

Administrative expenses

(44

)

(90,106

)

OPERATING LOSS

(44

)

(90,106

)

Income from fixed asset investments

823,686

1,047,912

823,642

957,806

Gain/loss on revaluation of investments

(76,755

)

42,742

746,887

1,000,548

Interest payable and similar expenses

(907,157

)

(1,112,582

)

LOSS BEFORE TAXATION

(160,270

)

(112,034

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(160,270

)

(112,034

)

FIXED ASSETS

Investments

3

12,020,705

9,878,811

CURRENT ASSETS

Debtors

4

57,507

105,320

Cash in hand

4,109

114,153

61,616

219,473

CREDITORS

Amounts falling due within one year

5

(26,697

)

(105,241

)

NET CURRENT ASSETS

34,919

114,232

TOTAL ASSETS LESS CURRENT LIABILITIES

12,055,624

9,993,043

CREDITORS

Amounts falling due after more than one year

6

(12,327,927

)

(10,105,076

)

NET LIABILITIES

(272,303

)

(112,033

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(272,304

)

(112,034

)

(272,303

)

(112,033

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 8 July 2020 and were signed on its behalf by:

C J R Sheldon - Director

1.	STATUTORY INFORMATION

Greenmead AD 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.

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.

Investments

Investments held by the Company have been valued in accordance with the International

Private Equity and Venture Capital (IPEVC) valuation guidelines (December 2015)

developed by the British Venture Capital Association and other organisations. Through these

guidelines, investments are valued as defined at 'fair value'. Ordinarily, unquoted

investments will be valued at cost for a limited period following the date of acquisition, being

the most suitable approximation of fair value unless there is an impairment or significant

accretion in value during the period.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2019

9,878,811

Additions

2,381,863

Disposals

(163,214

)

Revaluations

(76,755

)

At 31 December 2019

12,020,705

NET BOOK VALUE

At 31 December 2019

12,020,705

At 31 December 2018

9,878,811

Cost or valuation at 31 December 2019 is represented by:

Other

investments

£

Valuation in 2018

42,742

Valuation in 2019

(76,755

)

Cost

12,054,718

12,020,705

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Other debtors

57,507

105,320

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Other creditors

26,697

105,241

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Other creditors

12,327,927

10,105,076

31.12.19

31.12.18

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

12,327,927

10,105,076