Green Meadow Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03628414 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

Green Meadow Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Harvey

REGISTERED OFFICE:

Unit 61 Wymeswold Industrial Estate

Burton On The Wolds

Loughborough

Leicestershire

LE12 5TY

REGISTERED NUMBER:

03628414 (England and Wales)

ACCOUNTANTS:

Gopsall Services Limited

4 HRFC Business Centre

Leicester Road

Hinckley

Leicestershire

LE10 3DR

FIXED ASSETS

Tangible assets

4

1,691,400

2,251,743

Investments

5

118,809

8,196

Investment property

6

7,940,000

5,712,883

9,750,209

7,972,822

CURRENT ASSETS

Stocks

17,200

12,056

Debtors

7

385,876

470,928

Cash at bank

2,534,059

1,610,856

2,937,135

2,093,840

CREDITORS

Amounts falling due within one year

8

594,799

415,438

NET CURRENT ASSETS

2,342,336

1,678,402

TOTAL ASSETS LESS CURRENT LIABILITIES

12,092,545

9,651,224

CREDITORS

Amounts falling due after more than one year

9

(258,851

)

(318,286

)

PROVISIONS FOR LIABILITIES

(1,551,092

)

(90,153

)

NET ASSETS

10,282,602

9,242,785

CAPITAL AND RESERVES

Called up share capital

10

300

300

Fair value reserve

11

3,957,014

3,975,270

Retained earnings

11

6,325,288

5,267,215

SHAREHOLDERS' FUNDS

10,282,602

9,242,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 8 February 2023 and were signed by:

G J Harvey - Director

1.	STATUTORY INFORMATION

Green Meadow 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 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.

Going concern

The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.The directors have concluded that there are no material uncertainties about the company's ability to continue as a going concern and they are satisfied that the company has adequate resources to continue to meet its liabilities as they fall due and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation of future event's that are believed to be reasonable under the circumstance.

Key accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utlilisation and the physical condition of the asset. The net carrying amount of tangible fixed assets is disclosed in the tangible fixed assets note to the financial statements.

Valuation of property

Investment property is valued to fair value in accordance with either a valuation from a qualified surveyor or the directors opinion on the property's fair value. The fair value is reassessed annually and the financial statements updated accordingly. The net carrying amount of investment property is disclosed in the investment property note to the 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.

Tangible fixed assets

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

Freehold property

-

Over 39 to 50 years

Long leasehold

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2021

2,155,880

1,452,898

3,608,778

Additions

241,109

159,039

400,148

Disposals

-

(33,375

)

(33,375

)

Reclassification/transfer

(951,682

)

-

(951,682

)

At 28 February 2022

1,445,307

1,578,562

3,023,869

DEPRECIATION

At 1 March 2021

378,624

978,411

1,357,035

Charge for year

49,358

101,186

150,544

Eliminated on disposal

-

(15,448

)

(15,448

)

Reclassification/transfer

(159,662

)

-

(159,662

)

At 28 February 2022

268,320

1,064,149

1,332,469

NET BOOK VALUE

At 28 February 2022

1,176,987

514,413

1,691,400

At 28 February 2021

1,777,256

474,487

2,251,743

5.	FIXED ASSET INVESTMENTS

Fixed

asset

investment

£

COST

At 1 March 2021

8,196

Additions

110,613

At 28 February 2022

118,809

NET BOOK VALUE

At 28 February 2022

118,809

At 28 February 2021

8,196

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2021

5,712,883

Revaluations

1,435,097

Reclassification/transfer

792,020

At 28 February 2022

7,940,000

NET BOOK VALUE

At 28 February 2022

7,940,000

At 28 February 2021

5,712,883

The investment properties have been revalued in the year ended 28 February 2022.

The commercial investment properties were last valued as a Portfolio Valuation in March 2019 by APB Chartered Surveyors at £7,750,000.

The surplus on revaluation of investment property arising of £1,435,097 (2021: £nil) has been credited to the profit and loss for the year. All other tangible assets are stated at historical cost less depreciation and impairments.

In the opinion of the directors that Investment property is stated at its fair value. Details on the assumptions made and the key sources of estimation uncertainty are given in note 2.

Fair value at 28 February 2022 is represented by:

£

Valuation in 2022

5,410,367

Cost

2,529,633

7,940,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

297,529

223,805

Other debtors

88,347

247,123

385,876

470,928

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans and overdrafts

62,500

26,042

Trade creditors

163,002

180,831

Taxation and social security

333,664

191,986

Other creditors

35,633

16,579

594,799

415,438

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans

166,667

223,958

Other creditors

92,184

94,328

258,851

318,286

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.22

28.2.21

value:

£

£

300

Ordinary

£1

300

300

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 March 2021

5,267,215

3,975,270

9,242,485

Profit for the year

1,247,072

1,247,072

Dividends

(207,255

)

(207,255

)

Current year revaluation

18,256

(18,256

)

-

At 28 February 2022

6,325,288

3,957,014

10,282,302

The surplus on revaluation of investment property arising of £1,435,097 (2021: £nil) has been credited to the fair value reserve. The deferred tax arising on the investment property of £1,453,353 (2021: £nil) has been debited against the fair value reserve.