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REGISTERED NUMBER: 09669516 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Greenwood Motor Services Ltd

Greenwood Motor Services Ltd (Registered number: 09669516)






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




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Greenwood Motor Services Ltd

Company Information
for the Year Ended 31 July 2023







Directors: Mr S J Gurden
Mrs R Gurden





Registered office: 48 Union Street
Hyde
Cheshire
SK14 1ND





Registered number: 09669516 (England and Wales)





Accountants: Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Greenwood Motor Services Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greenwood Motor Services Ltd for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Greenwood Motor Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greenwood Motor Services Ltd and state those matters that we have agreed to state to the Board of Directors of Greenwood Motor Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Greenwood Motor Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Greenwood Motor Services Ltd. You consider that Greenwood Motor Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Greenwood Motor Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND


5 March 2024

Greenwood Motor Services Ltd (Registered number: 09669516)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 2,800
Tangible assets 5 31,867 39,062
31,867 41,862

Current assets
Stocks 14,700 15,650
Debtors 6 20,639 20,383
Cash at bank and in hand 37,673 29,649
73,012 65,682
Creditors
Amounts falling due within one year 7 49,600 43,046
Net current assets 23,412 22,636
Total assets less current liabilities 55,279 64,498

Creditors
Amounts falling due after more than one
year

8

54,594

64,306
Net assets 685 192

Capital and reserves
Called up share capital 9 100 100
Retained earnings 585 92
Shareholders' funds 685 192

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

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

Greenwood Motor Services Ltd (Registered number: 09669516)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





Mr S J Gurden - Director


Greenwood Motor Services Ltd (Registered number: 09669516)

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

1. Statutory information

Greenwood Motor Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

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 - 20% on cost
Tools and equipment - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Greenwood Motor Services Ltd (Registered number: 09669516)

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

2. Accounting policies - continued
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 6 (2022 - 6 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 August 2022
and 31 July 2023 14,000
Amortisation
At 1 August 2022 11,200
Charge for year 2,800
At 31 July 2023 14,000
Net book value
At 31 July 2023 -
At 31 July 2022 2,800

Greenwood Motor Services Ltd (Registered number: 09669516)

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

5. Tangible fixed assets
Freehold Tools and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 August 2022 30,637 34,732 32,899 2,080 100,348
Additions - 5,762 - - 5,762
At 31 July 2023 30,637 40,494 32,899 2,080 106,110
Depreciation
At 1 August 2022 14,859 29,970 15,116 1,341 61,286
Charge for year 6,127 1,912 4,446 472 12,957
At 31 July 2023 20,986 31,882 19,562 1,813 74,243
Net book value
At 31 July 2023 9,651 8,612 13,337 267 31,867
At 31 July 2022 15,778 4,762 17,783 739 39,062

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 6,243 7,415
Other debtors 14,396 12,968
20,639 20,383

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 30,215 24,607
Taxation and social security 17,719 16,154
Other creditors 1,666 2,285
49,600 43,046

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 37,963 43,274
Hire purchase contracts 16,631 21,032
54,594 64,306

9. Called up share capital

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

Greenwood Motor Services Ltd (Registered number: 09669516)

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

10. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr S J Gurden
Balance outstanding at start of year 7,308 (65 )
Amounts advanced - 8,073
Amounts repaid - (700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,308