GREENLIFE ESTATES HOLDING LIMITED - Limited company accounts 18.2
GREENLIFE ESTATES HOLDING LIMITED - Limited company accounts 18.2
| REGISTERED NUMBER: |
| Director's Report and |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| GREENLIFE ESTATES HOLDING LIMITED |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Director's Report | 2 |
| Report of the Accountants | 3 |
| Statement of Income and Retained Earnings | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
| GREENLIFE ESTATES HOLDING LIMITED |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Charles House |
| 108-110 Finchley Road |
| London |
| NW3 5JJ |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Director's Report |
| for the Year Ended 31 December 2017 |
| The director presents her report with the financial statements of the company for the year ended 31 December 2017. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of an investment holding company. |
| DIRECTORS |
| The directors who have held office during the period from 1 January 2017 to the date of this report are as |
| follows: |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
| relating to small companies. |
| ON BEHALF OF THE BOARD: |
| GREENLIFE ESTATES HOLDING LIMITED |
| Report of the Accountants to the Director of |
| GREENLIFE ESTATES HOLDING LIMITED |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages four to nine and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Charles House |
| 108-110 Finchley Road |
| London |
| NW3 5JJ |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Statement of Income and Retained Earnings |
| for the Year Ended 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| OPERATING LOSS | ( |
) | ( |
) |
| Amounts written off investments | 28,253 | (572,811 | ) |
| (LOSS)/PROFIT BEFORE TAXATION | ( |
) |
| Tax on (loss)/profit |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
| Retained earnings at beginning of year | ( |
) | ( |
) |
| RETAINED EARNINGS AT END OF YEAR |
( |
) |
( |
) |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 3 |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director on |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| GREENLIFE ESTATES HOLDING LIMITED is a |
| England and Wales. The company's registered number and registered office address can be found on |
| the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investments in subsidiaries and associates |
| Investments in subsidiary and associate undertakings are recognised at cost less any provision for |
| impairment. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet 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. |
| 3. | FIXED ASSET INVESTMENTS |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Shares in group undertakings |
| Loans to group undertakings |
| Participating interests |
| Loans to undertakings in which the company has a participating interest |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Additional information is as follows: |
| Shares in | Interest |
| group | in |
| undertakings | associate | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 | 4,823,469 |
| PROVISIONS |
| At 1 January 2017 | 2,077,583 | 535,709 | 2,613,292 |
| Provision for year | 19,582 | 8,671 | 28,253 |
| At 31 December 2017 | 2,097,165 | 544,380 | 2,641,545 |
| NET BOOK VALUE |
| At 31 December 2017 | 2,181,924 |
| At 31 December 2016 | 2,210,177 |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Subsidiaries |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| (Loss)/profit for the year | ( |
) |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Loss for the year | ( |
) | ( |
) |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| (Loss)/profit for the year | ( |
) |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Loss for the year | ( |
) | ( |
) |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Associated companies |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| GREENLIFE ESTATES HOLDING LIMITED (Registered number: 03145056) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Spain |
| Nature of business: |
| % |
| Class of shares: | holding |
| Loans to |
| group | Loans to |
| undertakings | associates | Totals |
| £ | £ | £ |
| At 1 January 2017 |
| Other movement |
| At 31 December 2017 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Amounts owed to group undertakings |
| Amounts owed to participating interests | 578,134 | 557,711 |
| Other creditors |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Other creditors |
| 6. | RELATED PARTY DISCLOSURES |
| The following balances existed with related parties at 31 December 2017: |
| a) Loan from shareholders £3,071,101 (2016: £2,981,469). |
| b) Loan from Greenlife Elviria S.L £982,092 (2016: £947,399). |
| c) Amounts owed to Imara residential Homes S.L. £578,134 (2016: £557,711). |
| d) Loan given to Greenlife Estate SL £576,137 (2016: £555,784). |
| e) Loan to Greenlife Golf Club SL - £142,647 (2016: £137,630); |
| f) Loan to Gima Properties SL - £354,960 (2016: £343,121). |