Accounts Submission

GREEN WORLD PROPERTIES LTD - Company Information

Company Accounts and Tax Online 08969217 Board of Directors 1.1.16 31.12.16 31.12.16 false iso4217:GBP xbrli:pure 08969217 2015-01-01 2015-12-31 08969217 2016-12-31 08969217 2016-01-01 2016-12-31 08969217 2015-12-31 08969217 countries:EnglandWales 2016-01-01 2016-12-31 08969217 curr:PoundSterling 2016-01-01 2016-12-31 08969217 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 08969217 uk-bus:FRS102 2016-01-01 2016-12-31 08969217 uk-bus:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 08969217 uk-bus:AbridgedAccounts 2016-01-01 2016-12-31 08969217 uk-bus:RegisteredOffice 2016-01-01 2016-12-31 08969217 uk-bus:Director1 2016-01-01 2016-12-31 08969217 uk-bus:Director1 2016-01-01 08969217 uk-bus:Director1 2016-12-31 08969217 uk-bus:Director2 2016-01-01 2016-12-31 08969217 uk-bus:Director2 2016-01-01 08969217 uk-bus:Director2 2016-12-31 08969217 uk-bus:CompanySecretary1 2016-01-01 2016-12-31 08969217 core:AfterOneYear 2016-12-31 08969217 core:AfterOneYear 2015-12-31 08969217 core:WithinOneYear 2016-12-31 08969217 core:WithinOneYear 2015-12-31 08969217 core:WithinOneYear 2016-01-01 2016-12-31 08969217 core:AfterOneYear 2016-12-31 08969217 core:AfterOneYear 2015-12-31 08969217 core:AfterOneYear 2016-01-01 2016-12-31 08969217 core:ShareCapital 2016-12-31 08969217 core:ShareCapital 2015-12-31 08969217 core:RevaluationReserve 2016-12-31 08969217 core:RevaluationReserve 2015-12-31 08969217 core:RetainedEarningsAccumulatedLosses 2016-12-31 08969217 core:RetainedEarningsAccumulatedLosses 2015-12-31 08969217 core:Associate1 2016-01-01 2016-12-31 08969217 core:Associate1 2015-12-31 08969217 core:Associate1 2016-12-31 08969217 core:Associate1 2016-01-01 2016-12-31 08969217 1 2016-01-01 2016-12-31

Company Registration Number:
08969217 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2016

Period of accounts

Start date: 01 January 2016

End date: 31 December 2016

Contents of the Financial Statements

for the Period Ended 31 December 2016


Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Profit and Loss notes - 9
Balance sheet notes - 10

Directors' Report Period Ended 31 December 2016

The directors present their report with the financial statements of the company for the period ended 31 December 2016

Principal Activities

Holding investments

Political and charitable donations

None

Directors

The directors shown below have held office during the whole of the period from 01 January 2016 to 31 December 2016
Kevan Michael Keegan

The director(s) shown below resigned during the period
Bo Sjoholm
08 April 2016

Secretary
Cosec Direct Ltd

This report was approved by the board of directors on 30 October 2017
And Signed On Behalf Of The Board By:

Name: Kevan Michael Keegan
Status: Director

Profit and Loss Account

for the Period Ended 31 December 2016

	Notes	2016 £	2015 £
Administrative Expenses		(3,735)	(13,328)
Operating Profit or (Loss)		(3,735)	(13,328)
Interest Payable and Similar Charges		-	(3,047)
Profit or (Loss) Before Tax	2	(3,735)	(16,375)
Profit or (Loss) for Period		(3,735)	(16,375)

The notes form part of these financial statements

Balance sheet

As at 31 December 2016

	Notes	2016 £	2015 £
Fixed assets
Tangible assets:	3	1,515,666	1,123,394
Total fixed assets:		1,515,666	1,123,394
Current assets
Debtors:	4	68,463	109,450
Total current assets:		68,463	109,450
Creditors: amounts falling due within one year:	5	( 116,781 )	( 116,049 )
Net current assets (liabilities):		( 48,318 )	( 6,599 )
Total assets less current liabilities:		1,467,348	1,116,795
Creditors: amounts falling due after more than one year:	6	( 33,141 )	( 81,608 )
Total net assets (liabilities):		1,434,207	1,035,187

The notes form part of these financial statements

Balance sheet continued

As at 31 December 2016

	Notes	2016 £	2015 £
Capital and reserves
Called up share capital:		2	2
Revaluation reserve:	7	1,459,111	1,056,356
Profit and loss account:		( 24,906 )	( 21,171 )
Shareholders funds:		1,434,207	1,035,187

For the year ending 31 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

This report was approved by the board of directors on 30 October 2017
And Signed On Behalf Of The Board By:

Name: Kevan Michael Keegan
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2016

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Valuation information and policy

Any revaluations of the company's investment assets are based solely on the statutory accounting submissions made in Belgium by the auditing accountants (BDO) of those Belgian subsidiaries. It is the company's policy to take the net book values of the Belgian subsidiaries at their last reported financial year end (which is simultaneous with the company's year-end) and translate the in Pound Sterling using the year-end exchange rate.

Likewise all inter-company accounts with Belgian subsidiaries and parent company are translated from the corresponding statutory accounts using the year-end rate.

The net effect of such revaluations and translation gains or losses is taken into account in the company's Revaluation Reserve.

Notes to the Financial Statements

for the Period Ended 31 December 2016

2.Profit or (Loss) before tax

Company incurs minimal operating expenses entirely arising in UK with respect to corporate administration costs.

However company's Belgian investment assets and its inter-company accounts both with its Belgian parent company and with subsidiaries are denominated in Euros, therefore exchange rate gains or losses occur upon balance sheet translation. These do not pass though the P&L account but are adjusted via the revaluation reserve.

In 2016 the balance sheet accounts were translated using the year end rate of €1,15 / £1 resulting in a net translation gain of £13,166 compared with 2015's balance sheet translation, as a result of the significant depreciation of the Pound following the Brexit Referendum in June.

Notes to the Financial Statements

for the Period Ended 31 December 2016

3. Tangible Assets

	Total
Cost	£
At 01 January 2016	1,123,394
Additions	-
Disposals	-
Revaluations	392,272
Transfers	-
At 31 December 2016	1,515,666
Depreciation
At 01 January 2016	-
Charge for year	-
On disposals	-
Other adjustments	-
At 31 December 2016	-
Net book value
At 31 December 2016	1,515,666
At 31 December 2015	1,123,394

Tangible Assets represent the accounting book value at FYE 31 December 2016 of the net assets of the company's three Belgian subsidiaries (Green World Enterprises bvba; Green World North bvba; Green World South bvba). Those accounts being produced and filed in Euros, there arises both a change in the underlying book value as well as a translation effect from Euros to Pounds Sterling.

During 2016 the underlying accounting net book values increased by an aggregate €48,016 to €1,743,016; the FX rate used to translate them at FYE 2016 was €1.15.

Notes to the Financial Statements

for the Period Ended 31 December 2016

4. Debtors

All amounts owing to the company are due from the Belgian subsidiaries and denominated in Euros. In 2016 the subsidiaries repaid €60,000 which the company used to repay an equal sum from its long term debenture debts. The company does not expect to make available any additional funds to the subsidiaries, and the inter-company amounts receivable from subsidiaries are expected to be fully repaid in 2018.

Notes to the Financial Statements

for the Period Ended 31 December 2016

5. Creditors: amounts falling due within one year note

All amounts are owed to the parent company, International School of Flanders vzw who repaid all the company's third party creditors in the first half of 2016, with the exception of the Debenture debt owing to former owners of the company who granted long term deferred payment terms upon the change of ownership in October 2015.

Notes to the Financial Statements

for the Period Ended 31 December 2016

6. Creditors: amounts falling due after more than one year note

This is entirely the long term Debenture debt due to former owners of the company and which is being repaid at the rate of €60k per annum. The Debenture is expected to be fully repaid in 2018.

Notes to the Financial Statements

for the Period Ended 31 December 2016

7. Revaluation reserve

	2016 £
Balance at 01 January 2016	1,056,356
Surplus or deficit after revaluation	402,755
Balance at 31 December 2016	1,459,111

The Revaluation Reserve reflects the combination of: (1) changes in the underlying net book values of the accounts of the Belgian subsidiaries, less historic costs of acquisition, translated from Euros into Pounds Sterling; plus (2) the net effect of FX translation gains & losses arising from the translation of inter-company accounts denominated in Euros.

Notes to the Financial Statements

for the Period Ended 31 December 2016

8.1.Related party disclosures

Name of related party:	International School of Flanders vzw
Description of relationship:
99% shareholder
Description of the transaction:
ISF repaid on behalf of company all outstanding third party debts which became due in early 2016. ISF has therefore become the company's creditor in that respect. The balance owing to ISF at FYE 2016 is denominated in Euros (€134,298)
Balance at 01 January 2016	116,049
Balance at 31 December 2016	116,781

Director:		Kevan Michael Keegan
		Bo Sjoholm


Secretary:		Cosec Direct Ltd


Registered office:		73 Watling Street London England EC4M 9BJ


Company Registration Number:		08969217 (England and Wales)

Accounts Submission