Greencroft Technical Services Limited
Registered number: 03591868
Balance Sheet
at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 381,760 380,783
Current assets
Debtors 4 - 459
Cash at bank and in hand 24,861 29,471
24,861 29,930
Creditors: amounts falling due within one year 5 (24,059) (25,291)
Net current assets 802 4,639
Net assets 382,562 385,422
Capital and reserves
Called up share capital 2 2
Profit and loss account 382,560 385,420
Shareholder's funds 382,562 385,422
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shelagh Christine Lewins
Director
Approved by the board on 8 April 2024
Greencroft Technical Services Limited
Notes to the Financial Statements
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method. No depreciation is provided on investment properties.
Plant and machinery 25% per year
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 August 2022 379,777 6,856 386,633
Additions - 1,872 1,872
At 31 July 2023 379,777 8,728 388,505
Depreciation
At 1 August 2022 - 5,850 5,850
Charge for the year - 895 895
At 31 July 2023 - 6,745 6,745
Net book value
At 31 July 2023 379,777 1,983 381,760
At 31 July 2022 379,777 1,006 380,783
4 Debtors 2023 2022
£ £
Other taxes and social security - 59
Prepayments and accrued income - 400
- 459
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax - 1,466
Taxation and social security costs 21 75
Other creditors 22,683 22,876
Accruals and deferred income 1,355 874
24,059 25,291
6 Other information
Greencroft Technical Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Wales Street
Sutton
Banbury
OX17 3RR
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