Greenwich Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12702964 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 29 JUNE 2020 TO 30 JUNE 2021

FOR

GREENWICH PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr B Daniel

REGISTERED OFFICE:

68 Whitton Close

DONCASTER

South Yorkshire

DN4 7RD

REGISTERED NUMBER:

12702964 (England and Wales)

ACCOUNTANTS:

Rigel Wolf Ltd

Chartered Accountants

Orion House

28A Spital Terrace

GAINSBOROUGH

Lincolnshire

DN21 2HQ

FIXED ASSETS

Tangible assets

4

448

CURRENT ASSETS

Stocks

5

208,560

Cash at bank

121

208,681

CREDITORS

Amounts falling due within one year

6

239,845

NET CURRENT LIABILITIES

(31,164

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,716

)

CREDITORS

Amounts falling due after more than one year

7

18,056

NET LIABILITIES

(48,772

)

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

12

(48,872

)

SHAREHOLDERS' FUNDS

(48,772

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 June 2022 and were signed by:

Mr B Daniel - Director

1.	STATUTORY INFORMATION

Greenwich Properties Ltd 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.

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

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

At 30 June 2021 the company had a net excess of liabilities over assets of £48,872 and was technically insolvent. The company is reliant upon the continuing financial support of its director, which has been confirmed as ongoing. The financial statements have therefore been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

350

275

625

At 30 June 2021

350

275

625

DEPRECIATION

Charge for period

87

90

177

At 30 June 2021

87

90

177

NET BOOK VALUE

At 30 June 2021

263

185

448

5.

STOCKS

£

Stocks

208,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 8)

115,600

Other loans (see note 8)

4,167

Other creditors

105,921

Directors' current accounts

12,958

Accruals and deferred income

1,199

239,845

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loans (see note 8)

18,056

8.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

115,600

Other loans

4,167

119,767

Amounts falling due between one and two years:

Other loans - 1-2 years

4,167

Amounts falling due between two and five years:

Other loans - 2-5 years

13,889

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

115,600

10.	PROVISIONS FOR LIABILITIES

Deferred

tax

£

Accelerated capital allowances

85

Tax losses

(85

)

Balance at 30 June 2021

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

12.

RESERVES

Retained

earnings

£

Deficit for the period

(48,872

)

At 30 June 2021

(48,872

)

13.	RELATED PARTY DISCLOSURES

At 30 June 2021 there was a balance owed by the company to Mr D Bishoy, the sole director and shareholder, of £12,958,. This balance has been shown in Creditors.