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REGISTERED NUMBER: 02252910 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Greens (Decorating) Contractors Limited

Greens (Decorating) Contractors Limited (Registered number: 02252910)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Greens (Decorating) Contractors Limited (Registered number: 02252910)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,472 276,031

CURRENT ASSETS
Stocks 5,190 53,294
Debtors 5 708,305 430,537
Cash at bank and in hand 228,300 519,589
941,795 1,003,420
CREDITORS
Amounts falling due within one year 6 349,375 415,662
NET CURRENT ASSETS 592,420 587,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

806,892

863,789

CREDITORS
Amounts falling due after more than one
year

7

(21,636

)

(31,730

)

PROVISIONS FOR LIABILITIES (43,516 ) (55,290 )
NET ASSETS 741,740 776,769

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 741,540 776,569
SHAREHOLDERS' FUNDS 741,740 776,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Greens (Decorating) Contractors Limited (Registered number: 02252910)

Balance Sheet - continued
31 May 2023


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 24 November 2023 and were signed on its behalf by:





F H Tyne - Director


Greens (Decorating) Contractors Limited (Registered number: 02252910)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Greens (Decorating) Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02252910

Registered office: Greens Decorating Contractors Ltd
School Street
Morley
Leeds
West Yorkshire
LS27 8BW

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.

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 wholly owned subsidiaries within the group.

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

Revenue from the sale of goods is recognised when goods are delivered and legal title passes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight Line over Lease Period
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Greens (Decorating) Contractors Limited (Registered number: 02252910)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

Hire purchase and 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 43 (2022 - 43 ) .

Greens (Decorating) Contractors Limited (Registered number: 02252910)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 65,642 180,862 542,332 64,297 853,133
Disposals - - (16,150 ) - (16,150 )
At 31 May 2023 65,642 180,862 526,182 64,297 836,983
DEPRECIATION
At 1 June 2022 36,452 153,522 336,137 50,991 577,102
Charge for year 1,313 4,101 50,683 1,996 58,093
Eliminated on disposal - - (12,684 ) - (12,684 )
At 31 May 2023 37,765 157,623 374,136 52,987 622,511
NET BOOK VALUE
At 31 May 2023 27,877 23,239 152,046 11,310 214,472
At 31 May 2022 29,190 27,340 206,195 13,306 276,031

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 103,420 184,589
Amounts owed by group undertakings 300,000 95,000
Amounts recoverable on contract 265,920 100,015
Other debtors 38,965 50,933
708,305 430,537

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 9,198 9,103
Trade creditors 120,378 165,169
Taxation and social security 143,490 131,751
Other creditors 76,309 109,639
349,375 415,662

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 21,636 31,730

8. SECURED DEBTS

An Unlimited Debenture dated 13/07/1990 incorporating a fixed and floating charge with Lloyds Bank PLC.

Greens (Decorating) Contractors Limited (Registered number: 02252910)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. ULTIMATE CONTROLLING PARTY

The controlling party is Greens Commercial Holdings Limited.