GREENPLAN_DESIGNER_HOMES_ - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Greenplan Designer Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Premier House, 36-48 Queen Street, Horsham, West Sussex, RH13 5AD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

These financial statements for the year ended 31 March 2018 are the first financial statements of Greenplan Designer Homes Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2016. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

The tax expense represents the sum of the tax currently payable and deferred tax.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The average monthly number of persons (including directors) employed by the company during the year was 7 (2017 - 4).

As at the balance sheet date the company was owed the following amounts from related parties:

Greenplan Designer Homes (Hassocks) Limited - £983,212 (2017 - £279,697)

Wakehurst Property Management Limited - £541 (2017 - Nil)

Highdown Estates Limited - £192 (2017 - Nil)

Greenplan Designer Homes (Newick) Limited - £5,192 (2017 - £5,000)

Greenplan Designer Homes (Cowfold) Limited - £74,418 (2017 - £69,682)

The Burnham Partnership - £18,845 (2017 - owed £5,030)

As at the balance sheet date the company owed the following amounts to related parties:

The Directors - £10,562 (2017 - £130,432)

Greenplan Designer Homes (Nuthurst) Limited - £70,950 (2017 - was owed £65,000)

Greenplan Designer Homes (Burgess Hill) Limited - Nil (2017 - £119,937)

During the year under review, the company provided services to the following related parties:

Greenplan Designer Homes (Hassocks) Limited - £500,000

Greenplan Designer Homes (Cowfold) Limited - £1,100,482

Greenplan Designer Homes (Nuthurst) Limited - £864,530

The Burnham Partnership - £18,417