GREENMOUNT_SECURITIES_LIM - Accounts

GREENMOUNT SECURITIES LIMITED - Company Information

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Company Registration No. 08752135 (England and Wales)

GREENMOUNT SECURITIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2015

GREENMOUNT SECURITIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GREENMOUNT SECURITIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

459,250

Current assets

Debtors

30,990

10,000

Cash at bank and in hand

2,001

32,991

10,000

Creditors: amounts falling due within one year

(194,188)

Net current liabilities/(assets)

(161,197)

10,000

Total assets less current liabilities

298,053

10,000

Capital and reserves

Called up share capital

10,000

Revaluation reserve

288,008

Profit and loss account

Shareholders' funds

298,053

10,000

For the financial Period ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 4 April 2016

M Hawthornthwaite

Director

Company Registration No. 08752135

GREENMOUNT SECURITIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents income from the sale of ground rent portfolio's, ground rent income receivable and commission income from property information. Ground rent income is recognised on an accruals basis. Commission and fee income is contingent on property related transactions occurring and therefore is recognised upon receipt.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2014

Additions

174,883

Revaluation

288,008

Disposals

(3,641)

At 30 September 2015

459,250

Share capital

2015

2014

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000

GREENMOUNT SECURITIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 SEPTEMBER 2015

- 3 -

Related party relationships and transactions

During the period the company provided a loan to the shareholder of £95,000 (2014: £nil). Following repayments of £77,060 (2014: £nil) the shareholder owes the company £19,305 (2014: £nil). This balance is unsecured and repayable on demand. Interest of £1,365 (2014: £nil) has been charged by the company.