Greenbank Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00836864 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

GREENBANK GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

C J Baybutt

J Melling

M Baybutt

Registered office:

Greenbank House

152 Wigan Lane

Wigan

Lancashire

WN1 2LA

Registered number:

00836864 (England and Wales)

Accountants:

NR Barton

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

202

238

Investments

5

1,050

Investment property

6

195,107

196,359

196,395

CURRENT ASSETS

Stocks

15,000

Debtors

7

828,274

840,415

Cash at bank

38,124

28,552

881,398

883,967

CREDITORS

Amounts falling due within one year

8

44,476

44,166

NET CURRENT ASSETS

836,922

839,801

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,033,281

1,036,196

CAPITAL AND RESERVES

Called up share capital

9

425

Retained earnings

1,032,856

1,035,771

SHAREHOLDERS' FUNDS

1,033,281

1,036,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2022 and were signed on its behalf by:

C J Baybutt - Director

1.	STATUTORY INFORMATION

Greenbank Group 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 (£).

The company has taken advantage of the exemptions, as a small group, provided by the Companies Act 2006 not to prepare group accounts. The financial statements therefore present information about the company as an individual undertaking and not about its group.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The directors have reviewed the company's forecasts and projections and in particular have considered the potential implications of the Coronavirus (COVID -19) pandemic. Whilst the eventual impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that the company will be able to remain operational through the pandemic.

The directors have reasonable expectation that the company will have adequate funding and support to continue in operational existence for the foreseeable future.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 group companies.

Turnover

Turnover represents the total invoice value, excluding value added tax, of rental sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment - 15% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in the income statement. Properties are valued on an open market basis by Mr C J Baybutt (FRICS), a director of the company supported by external professional valuations.

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of any deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.

Short term debtors and creditors receivable

Short term debtors and creditors with no stated interest rate are recorded at the transaction price. Any losses arising from impairment are recognised in the income statement.

Covid-19 impact

The director has reviewed the company's forecast and projections and, in particular, have considered the potential implications of the Coronavirus (Covid-19) pandemic.

The company has accessed government support during the pandemic.

Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that it will continue to have minimal impact on the company and that it will remain operational throughout the pandemic.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2021

and 31 December 2021

24,688

DEPRECIATION

At 1 January 2021

24,450

Charge for year

36

At 31 December 2021

24,486

NET BOOK VALUE

At 31 December 2021

202

At 31 December 2020

238

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

and 31 December 2021

1,050

NET BOOK VALUE

At 31 December 2021

1,050

At 31 December 2020

1,050

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

and 31 December 2021

195,107

NET BOOK VALUE

At 31 December 2021

195,107

At 31 December 2020

195,107

Fair value at 31 December 2021 is represented by:

£

Valuation in 2013

195,107

If the investment properties had not been revalued they would have been included at the following historical cost:

31.12.21

31.12.20

£

Cost

255,352

The investment properties were valued on a fair value basis on 31 December 2013 by Healy Simpson Limited .

In the opinion of the directors, the fair value for the existing use of the company's investment properties at 31 December 2020 is not materially different from the book value as stated in these financial statements.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

Trade debtors

4,246

Amounts owed by group undertakings

823,492

834,372

Other debtors

536

1,797

828,274

840,415

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

Trade creditors

7

-

Amounts owed to group undertakings

9,164

Amounts owed to related parties

18,961

Other creditors

16,344

16,041

44,476

44,166

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

425

Ordinary

£1

425

10.	RELATED PARTY DISCLOSURES

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 group companies.

There was a balance due to Greenbank Management Services Limited, a company of which Mr C J Baybutt and Mr D J Baybutt are directors as at 31 December 2021 of £18,961 (2020 - £18,961).

11.	ULTIMATE CONTROLLING PARTY

As shareholders of Greenbank Group Holdings Limited the Trustees of the Baybutt Family Trusts have a controlling interest in the company.

Greenbank Group Limited - Accounts to registrar (filleted) - small 18.2

Greenbank Group Limited - Accounts to registrar (filleted) - small 18.2