638 Green Lanes Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11050461 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

638 GREEN LANES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr V Menelaou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

11050461 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certifed Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

1,415,000

1,087,301

CURRENT ASSETS

Debtors

5

92,106

89,780

Cash at bank and in hand

77

90

92,183

89,870

CREDITORS

Amounts falling due within one year

6

1,246,993

1,217,554

NET CURRENT LIABILITIES

(1,154,810

)

(1,127,684

)

TOTAL ASSETS LESS CURRENT LIABILITIES

260,190

(40,383

)

PROVISIONS FOR LIABILITIES

56,886

-

NET ASSETS/(LIABILITIES)

203,304

(40,383

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

203,302

(40,385

)

SHAREHOLDERS' FUNDS

203,304

(40,383

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2022 and were signed by:

Mr V Menelaou - Director

1.	STATUTORY INFORMATION

638 Green Lanes 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.

Turnover

Turnover is measured at the fair value of the rents received or receivable during the year.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Government grants

Government grants represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

Going concern

The director agrees to continue to support the company financially and on this basis he considers the company to be a going concern and has prepared the accounts on that basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2020

1,087,301

Revaluations

327,699

At 30 November 2021

1,415,000

NET BOOK VALUE

At 30 November 2021

1,415,000

At 30 November 2020

1,087,301

Fair value at 30 November 2021 is represented by:

£

Valuation in 2021

327,699

Cost

1,087,301

1,415,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Related company

92,106

89,780

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans and overdrafts (see note 7)

1,060,554

1,050,977

Related company

161,910

160,817

Directors' current accounts

16,369

-

Accrued expenses

8,160

5,760

1,246,993

1,217,554

7.

LOANS

An analysis of the maturity of loans is given below:

30.11.21

30.11.20

£

£

Amounts falling due within one year or on demand:

Bank loans

1,060,554

1,050,977

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.21

30.11.20

£

£

Bank loans

1,060,554

1,050,977

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.21

30.11.20

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

2021

£

Distributable reserves

(67,511

)

Non-distributable reserves

270,813

Total reserves

£203,202