GREEN_MEADOW_LIMITED - Accounts

GREEN MEADOW LIMITED - Company Information

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Company Registration No. 03628414 (England and Wales)

GREEN MEADOW LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

GREEN MEADOW LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

2 - 3

Notes to the abbreviated accounts

4 - 6

GREEN MEADOW LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREEN MEADOW LIMITED FOR THE YEAR ENDED 29 FEBRUARY 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 6 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Green Meadow Limited for the year ended 29 February 2016 set out on pages 3 to 15 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, 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 Green Meadow Limited, as a body, in accordance with the terms of our engagement letter dated 8 May 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Green Meadow Limited and state those matters that we have agreed to state to the Board of Directors of Green Meadow 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 Green Meadow Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Green Meadow Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Green Meadow Limited. You consider that Green Meadow 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 financial statements of Green Meadow 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 financial statements.

Clear & Lane Limited

Chartered Accountants

340 Melton Road

Leicester

LE4 7SL

24 November 2016

GREEN MEADOW LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

8,049,715

7,922,903

Current assets

Stocks

8,000

Debtors

288,118

905,982

296,118

913,982

Creditors: amounts falling due within one year

(719,211)

(636,481)

Net current liabilities/(assets)

(423,093)

277,501

Total assets less current liabilities

7,626,622

8,200,404

Creditors: amounts falling due after more than one year

(16,650)

(21,600)

Provisions for liabilities

(82,166)

(92,700)

Accruals and deferred income

(105,048)

(150,000)

7,422,758

7,936,104

Capital and reserves

Called up share capital

300

Revaluation reserve

3,983,935

3,987,364

Profit and loss account

3,438,523

3,948,440

Shareholders' funds

7,422,758

7,936,104

GREEN MEADOW LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

29 FEBRUARY 2016

- 3 -

For the financial year ended 29 February 2016 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 year 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 24 November 2016

Mr G J Harvey

Director

Company Registration No. 03628414

GREEN MEADOW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 4 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts, and rent receivable.

1.4

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, as follows:

Freehold buildings

Over 39 and 50 years

Leasehold improvements

10% straight line

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

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 January 2015), 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.

1.5

Employee Benefit Trusts (EBTs)

The company has purchased a trust for the benefit of employees and certain of their dependants. Monies held in this trust are held by independent trustees and managed at their discretion.

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the Company does not include the assets and liabilities of the Trust on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of the Trust and will not have control of the rights or other access to those present economic benefits.

GREEN MEADOW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 5 -

Fixed assets

Tangible assets

Cost or valuation

At 1 March 2015

8,483,932

Additions

296,325

Disposals

(83,692)

At 29 February 2016

8,696,565

Depreciation

At 1 March 2015

561,029

On disposals

(45,667)

Charge for the year

131,488

At 29 February 2016

646,850

Net book value

At 29 February 2016

8,049,715

At 28 February 2015

7,922,903

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £57,130 (2015 - £131,371).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £16,650 (2015 - £21,600).

Share capital

2016

2015

Allotted, called up and fully paid

300 Ordinary shares of £1 each

300

GREEN MEADOW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 6 -

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

G J Harvey - Director's loan account

497,303

85,600

(785,356)

(202,453)

497,303

85,600

(785,356)

(202,453)