Registered number
06864993
Greenredeem Limited
Filleted Accounts
31 December 2021
Greenredeem Limited
Registered number: 06864993
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 299,526 325,616
Current assets
Debtors 4 25,269 52,529
Cash at bank and in hand 32,583 87,881
57,852 140,410
Creditors: amounts falling due within one year 5 (72,316) (77,609)
Net current (liabilities)/assets (14,464) 62,801
Total assets less current liabilities 285,062 388,417
Creditors: amounts falling due after more than one year 6 (570,274) (468,458)
Net liabilities (285,212) (80,041)
Capital and reserves
Called up share capital 564,890 564,890
Profit and loss account (850,102) (644,931)
Shareholder's funds (285,212) (80,041)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M H Ball
Director
Approved by the board on 22 February 2022
Greenredeem Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The company has made a net loss after tax of £205,171 for the year ended 31st December 2021 and, at that date, liabilities exceeded assets by £285,212.

The financial statements are prepared on the going concern basis becaue the director and 100% shareholder, Mr Neil Grundon, has undertaken to provide continuing financial support so that the company is able to pay its debts as and when they fall due.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 20% straight line
App and website development 33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2021 308,325 200,558 508,883
At 31 December 2021 308,325 200,558 508,883
Depreciation
At 1 January 2021 6,680 176,587 183,267
Charge for the year 6,167 19,923 26,090
At 31 December 2021 12,847 196,510 209,357
Net book value
At 31 December 2021 295,478 4,048 299,526
At 31 December 2020 301,645 23,971 325,616
4 Debtors 2021 2020
£ £
Trade debtors 22,631 45,681
Other debtors 2,638 6,848
25,269 52,529
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 4,555 23,979
Taxation and social security costs 4,151 18,723
Other creditors 63,610 34,907
72,316 77,609
6 Creditors: amounts falling due after one year 2021 2020
£ £
Other creditors 570,274 468,458
7 Loans 2021 2020
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 478,144 468,458
8 Related party transactions
Mr Neil Grundon, director and 100% shareholder in Greenredeem Limited, is also a director and shareholder in Grundon Waste Management Limited (GWM Ltd).
Greenredeem Limited was in receipt of two loans from GWM Limited during the year. The first loan has no fixed repayment term and is in the sum of £150,000 (2020: £150,000). No interest is charged on this loan.

The second loan is a mortgage in the sum of £310,000. This loan has no fixed term and interest is charged at the rate of 3% per annum. The loan is secured by a charge over the company's premises at 5 Bradfield Court, Milton Road, Drayton, Abingdon, OX14 4EF.
9 Controlling party
The ultimate controlling party is Mr Neil Grundon.
10 Other information
Greenredeem Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Bradfield Court
Milton Road
Drayton
ABINGDON
OX14 4EF
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