Greenwell Properties Limited - Abbreviated accounts 16.1
Greenwell Properties Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2015 |
| FOR |
| GREENWELL PROPERTIES LIMITED |
| GREENWELL PROPERTIES LIMITED (REGISTERED NUMBER: SC262365) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 October 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Report of the Accountants | 5 |
| GREENWELL PROPERTIES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| GREENWELL PROPERTIES LIMITED (REGISTERED NUMBER: SC262365) |
| ABBREVIATED BALANCE SHEET |
| 31 October 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 3 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on |
| GREENWELL PROPERTIES LIMITED (REGISTERED NUMBER: SC262365) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 October 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain |
| assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market |
| value is transferred to a revaluation reserve. |
| No depreciation is charged on investment properties in accordance with SSAP 19. |
| Operating leases |
| Income received under operating leases is included in the profit and loss account in the year to which it relates. Properties |
| held for use in operating leases are held as investment property in the balance sheet. |
| Turnover |
| Turnover represents invoiced rents received. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the subsistence of the contractual arrangement as either |
| financial assets or financial liabilities. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 November 2014 |
| Additions |
| At 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| The gross value of investment property held for use in operating leases is £2,902,015 (2014: £2,716,975). No depreciation |
| has been charged on these assets. |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary Shares | £1 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end, the directors were each owed by the company £174 (2014 - £174). The loans are interest free and there are |
| no fixed terms of repayment. |
| GREENWELL PROPERTIES LIMITED (REGISTERED NUMBER: SC262365) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 October 2015 |
| 6. | RELATED PARTY DISCLOSURES |
| During the period Limited. |
| Greenwell Properties Limited repaid £386,050 (2014: £218,033) to Greenwell Equipment Limited. |
| During the period, Greenwell Properties Limited rented property to Greenwell Equipment Limited for a sum of £63,000 |
| (2014: £63,000). The rentals were undertaken on an arm's length commercial basis. |
| The loan balance, at the balance sheet date, due from Greenwell Properties Limited to Greenwell Equipment Limited was |
| £113,068 (2014: £144,910). The loan is not subject to any formal agreement and there are no fixed terms of repayment. |
| 7. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the directors, M Turnbull and Miss J Turnbull, who, in aggregate, control 100% of the issued |
| share capital. |
| GREENWELL PROPERTIES LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
| GREENWELL PROPERTIES LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared. |
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2015 set out on pages three to eight and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 28 July 2016 |