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REGISTERED NUMBER: 11556119 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

GREENMOUNT PROJECTS LIMITED

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GREENMOUNT PROJECTS LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2022







DIRECTORS: M J Sharkey
A S Coley



REGISTERED OFFICE: Hamer House
4 The Parks
Ashton-In-Makerfield
WA12 0JQ



REGISTERED NUMBER: 11556119 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: National Westminster Bank Plc
4 Standishgate
Wigan
Lancashire
WN1 1UJ

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

STATEMENT OF FINANCIAL POSITION
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 310,353 50,447

CURRENT ASSETS
Stocks 5 - 9,465
Debtors 6 658,417 881,591
Cash at bank and in hand 739,333 594,929
1,397,750 1,485,985
CREDITORS
Amounts falling due within one year 7 1,049,156 1,112,848
NET CURRENT ASSETS 348,594 373,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

658,947

423,584

CREDITORS
Amounts falling due after more than one
year

8

(33,511

)

-

PROVISIONS FOR LIABILITIES 9 (23,980 ) -
NET ASSETS 601,456 423,584

CAPITAL AND RESERVES
Called up share capital 10 220 200
Retained earnings 601,236 423,384
SHAREHOLDERS' FUNDS 601,456 423,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

STATEMENT OF FINANCIAL POSITION - continued
28 February 2022


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 Board of Directors and authorised for issue on 8 September 2022 and were signed on its behalf by:





M J Sharkey - Director


GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Greenmount Projects 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.

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 represents the net invoice value of goods and services sold, excluding value added tax.

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue is measured at the fair value of the work performed by reference to the amount chargeable to clients, excluding value added tax. Revenue not billed to clients at the balance sheet date is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Tangible fixed assets are included at cost or valuation less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property-2% on cost
Plant & machinery-25% on reducing balance
Fixtures & fittings-25% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-33% on reducing balance

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Government income
The company has claimed monies from HMRC as part of the Government furlough scheme. This is recognised immediately the benefit becomes due

Stocks
Stocks and work in progress are valued at lower of cost and net realisable value.

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

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.
Amounts due to and from related undertakings, included directors, are repayable on demand and are measured at the undiscounted amount due. Other liabilities shall be measured at amortised cost using the effective interest rate.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2021 - 35 ) .

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2021 - - 925
Additions 217,000 17,500 -
At 28 February 2022 217,000 17,500 925
DEPRECIATION
At 1 March 2021 - - 431
Charge for year 2,532 - 124
At 28 February 2022 2,532 - 555
NET BOOK VALUE
At 28 February 2022 214,468 17,500 370
At 28 February 2021 - - 494

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2021 61,965 16,151 79,041
Additions 36,495 6,413 277,408
At 28 February 2022 98,460 22,564 356,449
DEPRECIATION
At 1 March 2021 20,839 7,324 28,594
Charge for year 10,848 3,998 17,502
At 28 February 2022 31,687 11,322 46,096
NET BOOK VALUE
At 28 February 2022 66,773 11,242 310,353
At 28 February 2021 41,126 8,827 50,447

5. STOCKS
2022 2021
£    £   
Work-in-progress - 9,465

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 648,417 845,277
Other debtors 10,000 36,314
658,417 881,591

GREENMOUNT PROJECTS LIMITED (REGISTERED NUMBER: 11556119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 50,000
Trade creditors 509,383 608,013
Tax 44,676 77,484
Social security and other taxes 96,651 83,638
Other creditors 13,871 24,095
Directors' current accounts 7,759 9,318
Accrued expenses 366,816 260,300
1,049,156 1,112,848

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 33,511 -

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 23,980 -

Deferred
tax
£   
Charge to Income Statement during year 23,980
Balance at 28 February 2022 23,980

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
330 A Ordinary 10p 33 20
870 B Ordinary 10p 87 80
1,000 Ordinary 10p 100 100
220 200

The following shares were issued during the year for cash at par :

130 A Ordinary shares of 10p
70 B Ordinary shares of 10p

11. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £19,819 (2021: £47,562).

12. RELATED PARTY DISCLOSURES

During the year total dividends of £149,000 (2021: £75,000) were paid to the directors.