Greatscheme Limited - Accounts to registrar (filleted) - small 18.2

Greatscheme Limited - Accounts to registrar (filleted) - small 18.2

GREATSCHEME LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.2.0.376 08147346 Board of Directors 1.1.20 31.12.20 31.12.20 0 0 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure081473462019-12-31081473462020-12-31081473462020-01-012020-12-31081473462018-12-31081473462019-01-012019-12-31081473462019-12-3108147346ns16:EnglandWales2020-01-012020-12-3108147346ns15:PoundSterling2020-01-012020-12-3108147346ns11:Director12020-01-012020-12-3108147346ns11:PrivateLimitedCompanyLtd2020-01-012020-12-3108147346ns11:SmallEntities2020-01-012020-12-3108147346ns11:AuditExempt-NoAccountantsReport2020-01-012020-12-3108147346ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-3108147346ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-3108147346ns11:FullAccounts2020-01-012020-12-3108147346ns11:Director22020-01-012020-12-3108147346ns11:RegisteredOffice2020-01-012020-12-3108147346ns6:CurrentFinancialInstruments2020-12-3108147346ns6:CurrentFinancialInstruments2019-12-3108147346ns6:ShareCapital2020-12-3108147346ns6:ShareCapital2019-12-3108147346ns6:RetainedEarningsAccumulatedLosses2020-12-3108147346ns6:RetainedEarningsAccumulatedLosses2019-12-3108147346ns6:CostValuation2019-12-3108147346ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-12-3108147346ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-3108147346ns6:CurrentFinancialInstruments2020-01-012020-12-31
REGISTERED NUMBER: 08147346 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

GREATSCHEME LIMITED
GREATSCHEME LIMITED (REGISTERED NUMBER: 08147346)

Contents of the Financial Statements
for the year ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREATSCHEME LIMITED

Company Information
for the year ended 31 December 2020







Directors: N Spicer
P F Quigley





Registered office: Sterling House
19/23 High Street
Kidlington
Oxfordshire
OX5 2DH





Business address: 10 Market Square
Bicester
Oxfordshire
OX26 6AD





Registered number: 08147346 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
Sterling House
19/23 High Street
Kidlington
Oxfordshire
OX5 2DH
Page 1
GREATSCHEME LIMITED (REGISTERED NUMBER: 08147346)

Balance Sheet
31 December 2020

31/12/20 31/12/19
Notes £ £ £ £
Fixed assets
Investments 4 48,691 48,691
Investment property 5 531,676 531,676
580,367 580,367

Current assets
Debtors 6 50,638 55,499
Cash at bank 7,281 3,238
57,919 58,737
Creditors
Amounts falling due within one year 7 519,750 528,466
Net current liabilities (461,831 ) (469,729 )
Total assets less current liabilities 118,536 110,638

Capital and reserves
Called up share capital 48,691 48,691
Retained earnings 69,845 61,947
Shareholders' funds 118,536 110,638

The notes on pages 4 to 5 form part of these financial statements

Page 2
GREATSCHEME LIMITED (REGISTERED NUMBER: 08147346)

Balance Sheet - continued
31 December 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 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 Board of Directors and authorised for issue on 15 September 2021 and were signed on its behalf by:





N Spicer - Director


The notes on pages 4 to 5 form part of these financial statements

Page 3
GREATSCHEME LIMITED (REGISTERED NUMBER: 08147346)

Notes to the Financial Statements
for the year ended 31 December 2020


1. Statutory information

Greatscheme 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.

The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

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.

Preparation of consolidated financial statements
The financial statements contain information about Greatscheme Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Going concern
The directors have made an assessment of the company's ability to continue as a going concern and have reviewed and considered relevant information, particularly in response to the impact on their business of possible scenarios brought on by the impact of COVID-19, as well as the measures that they can take to mitigate that impact. Based on this assessment, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

3. Employees and directors

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

Page 4
GREATSCHEME LIMITED (REGISTERED NUMBER: 08147346)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


4. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2020
and 31 December 2020 48,691
Net book value
At 31 December 2020 48,691
At 31 December 2019 48,691

5. Investment property
Total
£
Fair value
At 1 January 2020
and 31 December 2020 531,676
Net book value
At 31 December 2020 531,676
At 31 December 2019 531,676

Investment property was valued by the directors on an open market basis at 31 December 2020.

6. Debtors: amounts falling due within one year
31/12/20 31/12/19
£ £
Amounts owed by group undertakings 50,637 53,415
Other debtors 1 2,084
50,638 55,499

7. Creditors: amounts falling due within one year
31/12/20 31/12/19
£ £
Bank loans and overdrafts 342,851 351,464
Trade creditors - 2,501
Taxation and social security 2,815 4,044
Other creditors 174,084 170,457
519,750 528,466

Included in other creditors are loans of £19,174 (2019 - £19,174) and £62,747 (2019 - £62,747) from N V Spicer and P F Quigley, the company directors, respectively.

Page 5