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REGISTERED NUMBER: 08317255 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GREENSPORT TRADING LTD

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,262 4,502
Tangible assets 5 790,461 399,461
826,723 403,963

CURRENT ASSETS
Stocks 6 200,568 231,096
Debtors 7 1,052,686 811,436
Cash at bank and in hand 78,979 58,937
1,332,233 1,101,469
CREDITORS
Amounts falling due within one year 8 1,329,130 1,163,393
NET CURRENT ASSETS/(LIABILITIES) 3,103 (61,924 )
TOTAL ASSETS LESS CURRENT LIABILITIES 829,826 342,039

CREDITORS
Amounts falling due after more than one
year

9

(396,777

)

(168,066

)

PROVISIONS FOR LIABILITIES (202,042 ) (71,417 )
NET ASSETS 231,007 102,556

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 230,907 102,456
SHAREHOLDERS' FUNDS 231,007 102,556

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2024 and were signed by:





Mr G Rees - Director


GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


1. STATUTORY INFORMATION

Greensport Trading Ltd 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: 08317255

Registered office: Heol Ffaldau
Brackla Industrial Estate
Bridgend
Mid Glamorgan
CF31 2XE

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

Goodwill
An element of the goodwill relates to the acquisition of a business in 2012, and this has now been fully amortised. The goodwill additions in the period relate to the acquisition of a further business in 2023, and this will be amortised over its estimated useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% Straight line
Short leasehold - 10% Straight line
Plant and machinery - 10% Straight line
Fixtures and fittings - 20% Straight line
Motor vehicles - 25% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


2. ACCOUNTING POLICIES - continued

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.

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.

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.

Financial Instruments

Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill development Totals
£    £    £   
COST
At 1 January 2023 28,492 5,600 34,092
Additions 25,000 11,457 36,457
At 31 December 2023 53,492 17,057 70,549
AMORTISATION
At 1 January 2023 28,492 1,098 29,590
Amortisation for year 1,667 3,030 4,697
At 31 December 2023 30,159 4,128 34,287
NET BOOK VALUE
At 31 December 2023 23,333 12,929 36,262
At 31 December 2022 - 4,502 4,502

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2023 13,000 15,181 699,401
Additions - - 233,989
Disposals - - (156,628 )
At 31 December 2023 13,000 15,181 776,762
DEPRECIATION
At 1 January 2023 11,375 15,181 369,337
Charge for year 1,300 - 77,608
Eliminated on disposal - - (123,919 )
At 31 December 2023 12,675 15,181 323,026
NET BOOK VALUE
At 31 December 2023 325 - 453,736
At 31 December 2022 1,625 - 330,064

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 112,265 189,729 1,029,576
Additions 8,851 333,694 576,534
Disposals - (33,231 ) (189,859 )
At 31 December 2023 121,116 490,192 1,416,251
DEPRECIATION
At 1 January 2023 75,812 158,410 630,115
Charge for year 12,128 61,789 152,825
Eliminated on disposal - (33,231 ) (157,150 )
At 31 December 2023 87,940 186,968 625,790
NET BOOK VALUE
At 31 December 2023 33,176 303,224 790,461
At 31 December 2022 36,453 31,319 399,461

6. STOCKS
2023 2022
£    £   
Stocks 200,568 231,096

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20232022
£ £

Trade debtors614,847585,149
Other debtors429,088194,106
Prepayments and accrued income8,75132,181
1,052,686811,436

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20232022
£ £

Bank loans and overdrafts 73,85440,375
Hire purchase contracts 123,70581,542
Trade creditors560,827432,956
Taxation and social security 38,562151,547
Accruals and deferred income79,00025,132
Other creditors453,182431,841
1,329,1301,163,393

The other loans are secured by way of a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured against the assets to which they relate.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 17,500 27,500
Other loans (see note 10) 47,594 78,571
Hire purchase contracts (see note 11) 331,683 61,995
396,777 168,066

The other loans are secured by way of a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured against the assets to which they relate.

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Other loans 63,854 30,375
73,854 40,375

Amounts falling due between one and two years:
Bank loans - 1-2 years 17,500 27,500
Other loans - 1-2 years 47,594 78,571
65,094 106,071

GREENSPORT TRADING LTD (REGISTERED NUMBER: 08317255)

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


10. LOANS - continued

The other loans, are secured by way of a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured against the assets to which they

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 123,705 81,542
Between one and five years 331,683 61,995
455,388 143,537

Non-cancellable operating leases
2023 2022
£    £   
Within one year 11,554 15,062
Between one and five years - 11,554
11,554 26,616

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100