Project Green Town Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09920125 (England and Wales)

Financial Statements

for the Period 17 December 2015 to 31 December 2016

for

Project Green Town Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A S G Dodge

L Lei

B M O'Neill

V O'Sullivan

SECRETARY:

V O'Sullivan

REGISTERED OFFICE:

First Floor, Unit 9 Old Field Road

Bocam Park

Pencoed

Bridgend

CF35 5LJ

REGISTERED NUMBER:

09920125 (England and Wales)

AUDITORS:

Marsh Vision Limited

Chartered Certified Accountants

Statutory Auditors

Chester House

17 Gold Tops

Newport

SOUTH WALES

NP20 4PH

FIXED ASSETS

Investments

3

100

CURRENT ASSETS

Debtors

4

1,064,900

Cash at bank

304

1,065,204

CREDITORS

Amounts falling due within one year

5

1,057,021

NET CURRENT ASSETS

8,183

TOTAL ASSETS LESS CURRENT LIABILITIES

8,283

CAPITAL AND RESERVES

Called up share capital

6

200

Retained earnings

8,083

SHAREHOLDERS' FUNDS

8,283

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 September 2017 and were signed on its behalf by:

V O'Sullivan - Director

1.	STATUTORY INFORMATION

Project Green Town Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Project Green Town Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company is exempt under

Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it

and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its

parent, ABLEON Limited, 22 Avoca Wood, Avoca, Co. Wicklow.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements

as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity

instrument is any contract that evidences a residual interest in the assets of the company after deducting all its

liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate

of interest for a similar debt instrument.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 December 2016

100

NET BOOK VALUE

At 31 December 2016

100

The company's investments at the Statement of Financial Position date in the share capital of companies includes

the following:

Green Town (Heartlands) Limited

Registered in England & Wales

Class of Share: Ordinary shares of £1 each

% of shareholding: 100%

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by related parties

64,900

Other debtors

1,000,000

1,064,900

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to related parties

1,000,000

Tax

2,021

VAT

52,500

Accruals and deferred income

2,500

1,057,021

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

100

Ordinary A Shares

£1

100

100

Ordinary B Shares

£1

100

200

The following shares were allotted at par during the period:

100 Ordinary A shares of £1 each

100 Ordinary B shares of £1 each

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S MARSH (Senior Statutory Auditor)

for and on behalf of Marsh Vision Limited

8.	OFF-BALANCE SHEET ARRANGEMENTS

The company has a mortgage over its share capital. This is in relation to a loan provided to Green Town

(Heartlands) Limited (Company No 09938922 being a wholly owned subsidiary), by a third party lender.

9.	RELATED PARTY DISCLOSURES

Related Party

Relationship

Amount due from / (to related party

)

Green Town (Heartlands) Limited

Subsidiary

£64,700

Greentown International Limited

Joint controlling party

£100

Talick UK Limited

Joint controlling party

£100

WELink Energy (UK) Limited

Common ultimate controlling party

(£1,000,000

)

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B M O'Neill.

The largest and smallest group for which group financial statements are prepared, and of which the company is a

member, is as follows:

Name:

ABLEON Limited

Country of Incorporation:

Ireland

Address from where copies of the

22 Avoca Wood

Group financial statements can be

Avoca

obtained:

Co. Wicklow