Greenways Properties (Harpenden) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11803646 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

GREENWAYS PROPERTIES (HARPENDEN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr I C Fletcher

REGISTERED OFFICE:

260 - 270

Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

BUSINESS ADDRESS:

Greenways House

Whipsnade

Bedfordshire

LU6 2LG

REGISTERED NUMBER:

11803646 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

CURRENT ASSETS

Stocks

2,168,928

2,051,996

Debtors

4

592,013

1,375,437

Cash at bank

27,109

13,727

2,788,050

3,441,160

CREDITORS

Amounts falling due within one year

5

2,507,819

3,158,724

NET CURRENT ASSETS

280,231

282,436

TOTAL ASSETS LESS CURRENT LIABILITIES

280,231

282,436

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

280,131

282,336

SHAREHOLDERS' FUNDS

280,231

282,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2022 and were signed by:

Mr I C Fletcher - Director

1.	STATUTORY INFORMATION

Greenways Properties (Harpenden) 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

590,213

590,100

VAT

1,800

-

Prepayments and accrued income

-

785,337

592,013

1,375,437

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

900,000

900,000

Trade creditors

8,269

360

Corporation tax

-

20,110

Taxation and social security

1,356

-

Other creditors

475,620

332,600

Directors' loan accounts

1,120,774

1,894,890

Accrued expenses

1,800

10,764

2,507,819

3,158,724

6.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

900,000

900,000

The bank loan is secured via fixed and floating charges over the company assets, which also contains a negative pledge.

There is a fixed charge on 63 - 65 New Road, Digswell, Welsyn, AL6 0AL, which also contains a negative pledge.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr I C Fletcher.