Greentrade Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04955270 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

GREENTRADE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Grunzweig

SECRETARY:

Mrs K Grunzweig

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

04955270 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

490

576

Investment property

5

1,225,000

615,579

1,225,490

616,155

CURRENT ASSETS

Debtors

6

101,728

89,701

Cash at bank

16,887

462

118,615

90,163

CREDITORS

Amounts falling due within one year

7

(23,195

)

(6,583

)

NET CURRENT ASSETS

95,420

83,580

TOTAL ASSETS LESS CURRENT LIABILITIES

1,320,910

699,735

CREDITORS

Amounts falling due after more than one year

8

(724,876

)

(713,319

)

PROVISIONS FOR LIABILITIES

(115,790

)

-

NET ASSETS/(LIABILITIES)

480,244

(13,584

)

CAPITAL AND RESERVES

Called up share capital

10

2

2

Fair value reserve

11

609,421

-

Retained earnings

11

(129,179

)

(13,586

)

SHAREHOLDERS' FUNDS

480,244

(13,584

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 26 August 2021 and were signed by:

J Grunzweig - Director

1.	STATUTORY INFORMATION

Greentrade 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Depreciation

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or amortisation is provided in respect of freehold investment properties nor on leasehold investment properties having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy results in the financial statements giving true and fair view.

Investment properties

Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with Financial Reporting Standard for Smaller Entities(effective April 2008), which requires such properties to be stated at current market value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2019

and 30 November 2020

2,686

DEPRECIATION

At 1 December 2019

2,110

Charge for year

86

At 30 November 2020

2,196

NET BOOK VALUE

At 30 November 2020

490

At 30 November 2019

576

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2019

615,579

Revaluations

609,421

At 30 November 2020

1,225,000

NET BOOK VALUE

At 30 November 2020

1,225,000

At 30 November 2019

615,579

Fair value at 30 November 2020 is represented by:

£

Valuation in 2020

609,421

Cost

615,579

1,225,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade debtors

31,791

19,764

Other debtors

69,937

69,937

101,728

89,701

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Other creditors

20,495

4,783

Accrued expenses

2,700

1,800

23,195

6,583

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans - 2-5 years

28,348

16,848

Bank loans more 5 yrs non-inst

696,528

696,471

724,876

713,319

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

696,528

696,471

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.20

30.11.19

£

£

Bank loans

724,876

-

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £11,500 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.20

30.11.19

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 December 2019

(13,586

)

-

(13,586

)

Profit for the year

493,828

493,828

Fair value gain

(609,421

)

609,421

-

At 30 November 2020

(129,179

)

609,421

480,242

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Grunzweig.