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Registration number: 05055089

Greenhouse PR Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Greenhouse PR Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Greenhouse PR Ltd

Company Information

Director

Mrs Anna Guyer

Company secretary

Matthew Guyer

Registered office

3rd Floor
Unit 32 St Thomas Court
Thomas Lane
Bristol
BS16JG

 

Greenhouse PR Ltd

(Registration number: 05055089)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

514,987

572,717

Current assets

 

Debtors

6

1,130,208

1,058,061

Cash at bank and in hand

 

1,871,880

1,024,297

 

3,002,088

2,082,358

Creditors: Amounts falling due within one year

7

(967,051)

(997,377)

Net current assets

 

2,035,037

1,084,981

Total assets less current liabilities

 

2,550,024

1,657,698

Creditors: Amounts falling due after more than one year

7

-

(152,714)

Provisions for liabilities

(24,252)

(17,951)

Net assets

 

2,525,772

1,487,033

Capital and reserves

 

Called up share capital

8

2

2

Share premium reserve

90,000

-

Retained earnings

2,435,770

1,487,031

Shareholders' funds

 

2,525,772

1,487,033

 

Greenhouse PR Ltd

(Registration number: 05055089)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2023
 

.........................................
Mrs Anna Guyer
Director

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3rd Floor
Unit 32 St Thomas Court
Thomas Lane
Bristol
BS16JG
England

These financial statements were authorised for issue by the director on 29 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, other sales taxes, rebates and discounts.

The policies adopted for the recognition of turnover are as follows:
When providing services turnover is usually recognised on completion of the service and for monthly engagements it is recognised by reference to stage of completion at the Balance Sheet date.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates prevailing on the reporting period date.

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & Buildings - Long Leasehold

2% on cost

Land & Buildings - Leasehold improvements

Over the term of the lease

Fixutures & Fittings

33% straight line

Office Equipment

33% straight line

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price.They are subsequently measured at transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. rade creditors are recognised initially at the transaction price.These creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

The company contributes to a defined contribution pension scheme. Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 56 (2022 - 52).

4

Intangible assets

Cost

Amortisation

Carrying amount

At 28 February 2023

During the year the company rebranded and the website became redundant. As a result this intangible asset was written off in the period.
The asset previously previously held at carrying value of nil and so there was no effect on the profit in the year.

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost

At 1 March 2022

620,244

167,528

18,778

78,294

Additions

-

21,712

-

24,163

At 28 February 2023

620,244

189,240

18,778

102,457

Depreciation

At 1 March 2022

112,026

131,461

18,749

49,891

Charge for the year

63,681

22,503

27

17,394

At 28 February 2023

175,707

153,964

18,776

67,285

Carrying amount

At 28 February 2023

444,537

35,276

2

35,172

At 28 February 2022

508,218

36,067

29

28,403

Total
£

Cost

At 1 March 2022

884,844

Additions

45,875

At 28 February 2023

930,719

Depreciation

At 1 March 2022

312,127

Charge for the year

103,605

At 28 February 2023

415,732

Carrying amount

At 28 February 2023

514,987

At 28 February 2022

572,717

Included within the net book value of land and buildings above is £293,698(2022 - £300,080 in respect of long leasehold land and buildings.
 

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

992,524

809,552

Prepayments

58,893

55,394

Other debtors

78,791

193,115

 

1,130,208

1,058,061

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

74,461

Trade creditors

 

122,282

118,959

Taxation and social security

 

414,229

502,434

Accruals and deferred income

 

385,932

288,849

Other creditors

 

44,608

12,674

 

967,051

997,377

Creditors in the prior year include an unsecured bank loan from Funding Circle repayable over 5 years from January 2020 of £74,461.This loan was repaid in full in July 2022.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

152,714

Creditors in the prior year include an unsecured bank loan from Funding Circle repayable over 5 years from 17-1-2020 of £152,714.This loan was repaid in full in July 2022.

 

Greenhouse PR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £0.0001 (2022 - £0.0010) each

15,000

1.50

800

0.80

Ordinary B of £0.0001 (2022 - £0.0010) each

5,000

0.50

300

0.30

Ordinary C of £0.0001 (2022 - £0.0010) each

3,500

0.35

700

0.70

Ordinary D of £0 (2022 - £0.0010) each

-

-

200

0.20

 

23,500

2

2,000

2

9

Related party transactions

At the Balance Sheet date the company owed Mrs A Guyer £974 (2022 £461)

At the Balance Sheet date the company owed £1,332 to Spring Canopy Holdings Limited, a company which owns 63.83% of the share capital of Greenhouse PR Ltd (2022 debtor £32,304 and 75% share holding)