Company Registration No. 02018456 (England and Wales)
GREENLINE INTERIORS UK LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
GREENLINE INTERIORS UK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
GREENLINE INTERIORS UK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
755
1,006
Investments
2
10,000
10,000
10,755
11,006
Current assets
Stocks
10,249
10,249
Debtors
180,001
177,537
Cash at bank and in hand
3,341
4,043
193,591
191,829
Creditors: amounts falling due within one year
(5,569)
(14,070)
Net current assets
188,022
177,759
Total assets less current liabilities
198,777
188,765
Creditors: amounts falling due after more than one year
3
(2,030,655)
(1,985,304)
(1,831,878)
(1,796,539)
Capital and reserves
Called up share capital
4
10,000
10,000
Profit and loss account
(1,841,878)
(1,806,539)
Shareholders' funds
(1,831,878)
(1,796,539)
GREENLINE INTERIORS UK LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 17 September 2015
S Badro
Director
Company Registration No. 02018456
GREENLINE INTERIORS UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company continuies to be supported by Green Line Co Ltd , Sharjah. These accounts have been prepared on the going concern basis on the assumption that the financial support will not be withdrawn.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance & 33% Straight Line
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2014 & at 31 December 2014
35,130
10,000
45,130
Depreciation
At 1 January 2014
34,123
-
34,123
Charge for the year
252
-
252
At 31 December 2014
34,375
-
34,375
Net book value
At 31 December 2014
755
10,000
10,755
At 31 December 2013
1,006
10,000
11,006
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Green Point Limited
England & Wales
Ordinary
100.00
GREENLINE INTERIORS UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
2
Fixed assets
(Continued)
- 4 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Green Point Limited
Furniture consultancy
(468,898)
1,692
3
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Creditors due after one year is a loan from Green Line Co Ltd a company registered in the United Arab Emirates which is controlled by Mr. S Badro.
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
5
Ultimate parent company
The controlling company is Greenline Interiors UK Limited, a company registered in England and Wales Ltd. On This company is 100% controlled by Mr. Badro.