REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
GREENBANK GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
GREENBANK GROUP LIMITED |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GREENBANK GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
1st Floor Waterside House |
Waterside Drive |
Wigan |
Lancashire |
WN3 5AZ |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
BALANCE SHEET |
31 DECEMBER 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Greenbank Group Limited is a |
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 |
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 |
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. |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
Disposals | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Fair value at 31 December 2022 is represented by: |
£ |
Valuation in 2013 | (60,245 | ) |
Cost | 220,245 |
160,000 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
31.12.22 | 31.12.21 |
£ | £ |
Cost | 220,245 | 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 2022 is not materially different from the book value as stated in these financial statements. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to related parties | - | 18,961 |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary | £1 | 425 | 425 |
GREENBANK GROUP LIMITED (REGISTERED NUMBER: 00836864) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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. |
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. |