GREENBULL LIMITED - Period Ending 2015-12-31

Registration number: 07366027

GREENBULL LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2015

Alexander Rosse Limited
153 Milton Keynes Business Centre
Foxhunter Drive
Linford Wood
Milton Keynes
Buckinghamshire
MK14 6GD

GREENBULL LIMITED

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 8

GREENBULL LIMITED

Company Information

Directors

Runjit Bhopal

Company secretary

Aldbury Secretaries Limited

Registered office

10 Shallowford Grove Furzton Milton Keynes MK4 1ND

Accountants

Alexander Rosse Limited 153 Milton Keynes Business Centre Foxhunter Drive Linford Wood Milton Keynes Buckinghamshire MK14 6GD

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
GREENBULL LIMITED
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GREENBULL LIMITED for the year ended 31 December 2015 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of GREENBULL LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of GREENBULL LIMITED and state those matters that we have agreed to state to the Board of Directors of GREENBULL LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GREENBULL LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that GREENBULL LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GREENBULL LIMITED. You consider that GREENBULL LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of GREENBULL LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Alexander Rosse Limited
153 Milton Keynes Business CentreFoxhunter DriveLinford WoodMilton KeynesBuckinghamshireMK14 6GD

13 September 2016

Page 2

GREENBULL LIMITED

(Registration number: 07366027)
Balance Sheet as at 31 December 2015

	Note	2015  £	2014  £
Fixed assets
Tangible assets	5	402,911	28,184
Investment properties	6	7,155,000	6,690,000
		7,557,911	6,718,184
Current assets
Debtors	7	-	2,208
Cash at bank and in hand		214,449	234,570
		214,449	236,778
Creditors: Amounts falling due within one year	8	(717,861)	(500,224)
Net current liabilities		(503,412)	(263,446)
Total assets less current liabilities		7,054,499	6,454,738
Creditors: Amounts falling due after more than one year	8	(3,879,334)	(3,879,334)
Provisions for liabilities		(463,255)	(384,047)
Net assets		2,711,910	2,191,357
Capital and reserves
Called up share capital		100	100
Other reserves		2,348,294	1,962,503
Profit and loss account		363,516	228,754
Total equity		2,711,910	2,191,357

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The notes on pages 5 to 8 form an integral part of these financial statements.
Page 3

GREENBULL LIMITED

(Registration number: 07366027)
Balance Sheet as at 31 December 2015

Approved and authorised by the director on 13 September 2016
 

.........................................

Runjit Bhopal

Director

The notes on pages 5 to 8 form an integral part of these financial statements.
Page 4

GREENBULL LIMITED

Notes to the Financial Statements for the Year Ended 31 December 2015

1	General information

The company is a private company limited by share capital incorporated in England .

The address of its registered office is:
10 Shallowford Grove
Furzton
Milton Keynes
MK4 1ND

These financial statements were authorised for issue by the director on 13 September 2016.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 5

GREENBULL LIMITED

Notes to the Financial Statements for the Year Ended 31 December 2015

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	20% on Cost
Fixtures and Fittings	20% on Cost

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 6

GREENBULL LIMITED

Notes to the Financial Statements for the Year Ended 31 December 2015

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

	2015  No.	2014  No.
Other departments	1	1

4	Profit before tax

Arrived at after charging/(crediting)

	2015  £	2014  £
Depreciation expense	11,373	11,372

5	Tangible assets

	Furniture, fittings and equipment  £	Properties under construction  £	Total £
Cost or valuation
At 1 January 2015	56,863	-	56,863
Additions	-	386,100	386,100
At 31 December 2015	56,863	386,100	442,963
Depreciation
At 1 January 2015	28,679	-	28,679
Charge for the year	11,373	-	11,373
At 31 December 2015	40,052	-	40,052
Carrying amount
At 31 December 2015	16,811	386,100	402,911
At 31 December 2014	28,184	-	28,184

Included within the net book value of land and buildings above is £Nil (2014 - £Nil) in respect of freehold land and buildings, £Nil (2014 - £Nil) in respect of long leasehold land and buildings.
 

Page 7

GREENBULL LIMITED

Notes to the Financial Statements for the Year Ended 31 December 2015

6	Investment properties

	2015  £
At 1 January	6,690,000
Fair value adjustments	465,000
At 31 December	7,155,000

The value of investment properties are assessed annually based on the latest available RICS valuation reports and the Director's assessment of current market conditions

There has been no valuation of investment properties by an independent valuer.

7

Debtors

	2015  £	2014  £
Other debtors	-	2,208

8

Creditors

	Note	2015  £	2014  £
Due within one year
Loans and borrowings	9	587,320	393,345
Other payables		57,706	55,540
Accrued expenses		48,359	34,127
Income tax liability		24,476	17,212
		717,861	500,224
Due after one year
Loans and borrowings	9	3,879,334	3,879,334

9	Loans and borrowings

	2015  £	2014  £
Non-current loans and borrowings
Bank borrowings	3,879,334	3,879,334

	2015  £	2014  £
Current loans and borrowings
Bank borrowings	222,564	222,564
Other borrowings	364,756	170,781
	587,320	393,345

Page 8