Grasstex Ltd 02657824 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is carrying out ground maintenance Digita Accounts Production Advanced 6.30.9574.0 true 02657824 2023-01-01 2023-12-31 02657824 2023-12-31 02657824 bus:OrdinaryShareClass1 2023-12-31 02657824 bus:OrdinaryShareClass2 2023-12-31 02657824 core:CurrentFinancialInstruments 2023-12-31 02657824 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02657824 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 02657824 core:MotorVehicles 2023-12-31 02657824 core:PlantMachinery 2023-12-31 02657824 bus:SmallEntities 2023-01-01 2023-12-31 02657824 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02657824 bus:FullAccounts 2023-01-01 2023-12-31 02657824 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02657824 bus:RegisteredOffice 2023-01-01 2023-12-31 02657824 bus:CompanySecretaryDirector2 2023-01-01 2023-12-31 02657824 bus:Director2 2023-01-01 2023-12-31 02657824 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02657824 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 02657824 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02657824 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 02657824 core:LeaseholdImprovements 2023-01-01 2023-12-31 02657824 core:MotorVehicles 2023-01-01 2023-12-31 02657824 core:PlantMachinery 2023-01-01 2023-12-31 02657824 core:Vehicles 2023-01-01 2023-12-31 02657824 countries:AllCountries 2023-01-01 2023-12-31 02657824 2022-12-31 02657824 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 02657824 core:MotorVehicles 2022-12-31 02657824 core:PlantMachinery 2022-12-31 02657824 2022-01-01 2022-12-31 02657824 2022-12-31 02657824 bus:OrdinaryShareClass1 2022-12-31 02657824 bus:OrdinaryShareClass2 2022-12-31 02657824 core:CurrentFinancialInstruments 2022-12-31 02657824 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02657824 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 02657824 core:MotorVehicles 2022-12-31 02657824 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02657824

Grasstex Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Grasstex Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Grasstex Ltd

Company Information

Directors

Ms Margaret Moore

Mr Richard Conway

Company secretary

Ms Margaret Moore

Registered office

Pollingfold Works, Horsham Road
Ellens Green
Rudgwick
Horsham
West Sussex
RH12 3AS

Accountants

Maxcast Accountancy Ltd
33 Rook Way
Horsham
West Sussex
RH12 5FR

 

Grasstex Ltd

(Registration number: 02657824)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

800,267

476,981

Current assets

 

Debtors

5

264,892

332,482

Cash at bank and in hand

 

1,351,278

1,106,173

 

1,616,170

1,438,655

Creditors: Amounts falling due within one year

6

(286,122)

(215,450)

Net current assets

 

1,330,048

1,223,205

Total assets less current liabilities

 

2,130,315

1,700,186

Provisions for liabilities

(194,159)

(117,637)

Net assets

 

1,936,156

1,582,549

Capital and reserves

 

Called up share capital

7

1,015

1,015

Capital redemption reserve

85

85

Retained earnings

1,935,056

1,581,449

Shareholders' funds

 

1,936,156

1,582,549

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 

 

Grasstex Ltd

(Registration number: 02657824)
Balance Sheet as at 31 December 2023

.........................................
Mr Richard Conway
Director

 

Grasstex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Pollingfold Works, Horsham Road
Ellens Green
Rudgwick
Horsham
West Sussex
RH12 3AS

These financial statements were authorised for issue by the Board on 21 February 2024.

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Grasstex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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

Vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Leasehold improvements

4 years straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Grasstex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2022 - 32).

 

Grasstex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

128,552

820,247

347,053

1,295,852

Additions

1,199

453,412

75,285

529,896

Disposals

-

(21,500)

(7,250)

(28,750)

At 31 December 2023

129,751

1,252,159

415,088

1,796,998

Depreciation

At 1 January 2023

115,526

477,162

226,183

818,871

Charge for the year

4,699

139,723

41,812

186,234

Eliminated on disposal

-

(2,844)

(5,530)

(8,374)

At 31 December 2023

120,225

614,041

262,465

996,731

Carrying amount

At 31 December 2023

9,526

638,118

152,623

800,267

At 31 December 2022

13,026

343,085

120,870

476,981

5

Debtors

Current

2023
£

2022
£

Trade debtors

244,794

313,059

Prepayments

20,098

19,423

 

264,892

332,482

6

Creditors

Creditors: amounts falling due within one year

 

Grasstex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Due within one year

Trade creditors

105,087

17,344

Taxation and social security

142,591

155,624

Accruals and deferred income

6,177

15,552

Other creditors

32,267

26,930

286,122

215,450

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

551

551

940

940

Ordinary B shares of £1 each

464

464

75

75

 

1,015

1,015

1,015

1,015