Greenlife Estates Holding Limited - Limited company accounts 20.1

REGISTERED NUMBER: 03145056 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Greenlife Estates Holding Limited

Page

Company Information

1

Report of the Directors

2

Report of the Accountants

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

Buckingham Directors Limited

M Frenzel

Ms R Spitz

SECRETARY:

L.G. Secretaries Limited

REGISTERED OFFICE:

Unit 203, Second Floor

China House

401 Edgware Road

London

NW2 6GY

REGISTERED NUMBER:

03145056 (England and Wales)

ACCOUNTANTS:

Intrust Advisory Limited

4th Floor, Portman House,

2 Portman Street

London

W1H 6DU

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an investment holding company.

DIRECTORS

Ms R Spitz 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:

Ms M Paradisgarten - resigned 16 April 2019

Buckingham Directors Limited - appointed 16 April 2019

M Frenzel - appointed 20 February 2019

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:

Buckingham Directors Limited - Director

29 December 2020

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2019 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Intrust Advisory Limited

4th Floor, Portman House,

2 Portman Street

London

W1H 6DU

29 December 2020

TURNOVER

-

Administrative expenses

576,587

51,915

OPERATING LOSS

(576,587

)

(51,915

)

Amounts written off investments

(495,462

)

(1,828,920

)

(LOSS)/PROFIT BEFORE TAXATION

(81,125

)

1,777,005

Tax on (loss)/profit

-

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(81,125

)

1,777,005

FIXED ASSETS

Investments

4

3,063,022

5,099,774

CREDITORS

Amounts falling due within one year

5

3,299,095

2,147,037

NET CURRENT LIABILITIES

(3,299,095

)

(2,147,037

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(236,073

)

2,952,737

CREDITORS

Amounts falling due after more than one
year

6

-

3,107,685

NET LIABILITIES

(236,073

)

(154,948

)

CAPITAL AND RESERVES

Called up share capital

3,000

Retained earnings

(239,073

)

(157,948

)

SHAREHOLDERS' FUNDS

(236,073

)

(154,948

)

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 and authorised for issue on 29 December 2020 and were signed on its behalf by:

Buckingham Directors Limited - Director

1.	STATUTORY INFORMATION

Greenlife Estates Holding 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.

Investments in subsidiaries and associates

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	FIXED ASSET INVESTMENTS

2019

2018

£

Shares in group undertakings

2,925,822

2,925,377

Loans to group undertakings

137,200

144,695

Participating interests

-

1,085,466

Loans to undertakings in which the
company has a participating interest

-

944,236

3,063,022

5,099,774

Additional information is as follows:

Shares in

Interest

group

in

undertakings

associate

Totals

£

COST

At 1 January 2019

3,249,629

1,573,840

4,823,469

Additions

1,860

-

1,860

Disposals

(8,504

)

(1,573,840

)

(1,582,344

)

At 31 December 2019

3,242,985

-

3,242,985

PROVISIONS

At 1 January 2019

324,252

488,374

812,626

Provision written back

(7,089

)

(488,374

)

(495,463

)

At 31 December 2019

317,163

-

317,163

NET BOOK VALUE

At 31 December 2019

2,925,822

-

2,925,822

At 31 December 2018

2,925,377

1,085,466

4,010,843

Loans to

group

Loans to

undertakings

associates

Totals

£

At 1 January 2019

144,695

944,236

1,088,931

Repayment in year

-

(873,804

)

(873,804

)

Other movement

(7,495

)

(70,432

)

(77,927

)

At 31 December 2019

137,200

-

137,200

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Amounts owed to group undertakings

-

996,253

Amounts owed to participating interests

-

586,470

Other creditors

3,299,095

564,314

3,299,095

2,147,037

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2019

2018

£

Other creditors

-

3,107,685