GREYLAND_PROPERTIES_LIMIT - Accounts

GREYLAND PROPERTIES LIMITED - Company Information

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Company Registration No. 00261126 (England and Wales)

GREYLAND PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

GREYLAND PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GREYLAND PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

669,422

736,364

Current assets

Debtors

1,950,489

1,992,078

Cash at bank and in hand

1,242

1,241

1,951,731

1,993,319

Creditors: amounts falling due within one year

(389,802)

(242,972)

Net current assets

1,561,929

1,750,347

Total assets less current liabilities

2,231,351

2,486,711

Creditors: amounts falling due after more than one year

(225,072)

(344,675)

2,006,279

2,142,036

Capital and reserves

Called up share capital

33,284

Share premium account

1,386,388

Other reserves

292,585

359,527

Profit and loss account

294,022

362,837

Shareholders' funds

2,006,279

2,142,036

For the financial year ended 30 November 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 her 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 30 August 2017

C C Webb

Director

Company Registration No. 00261126

GREYLAND PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 2 -

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 the total invoice value, excluding value added tax, or rental income and commission received during the period and derives from the provision of goods falling within the company's ordinary activities.

1.4

Pensions

The pension costs charged in the financial statements represent the contribution payable by the compnay during the period.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Investment properties

Properties held for investment and included in fixed assets are stated in the balance sheet at estimated open market value.

This accounting policy is a departure from the Companies Act 2006, which requires all fixed assets to be depreciated. In the opinion of the director, this departure is required for the accounts to give a true and fair view.

The aggregate surplus or deficit arising on revaluation is transferred to the Investment Property Reserve and realised gains are credited to the Profit and Loss Account.

Fixed assets

Tangible assets

Cost or valuation

At 1 December 2015

736,364

Revaluation

(66,942)

At 30 November 2016

669,422

At 30 November 2015

736,364

GREYLAND PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Debtors

Debtors include an amount of £1,408,116 (2015 - £1,888,048) which is due after more than one year.

Creditors: amounts falling due after more than one year

The bank loan is secured over the company's investment property. Interest is charged at Base Rate plus 3.46% and is repayable in principal and interest in 120 consecutive monthly repayments.

Share capital

2016

2015

Allotted, called up and fully paid

665,680 Ordinary shares of 5p each

33,284

Ultimate parent company

The company's ultimate parent undertaking is Greyland Holding Co Limited, a company registered in England.