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REGISTERED NUMBER: 11451420 (England and Wales)














Financial Statements for the Year Ended 31 July 2023

for

Greengates Construction Ltd

Greengates Construction Ltd (Registered number: 11451420)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greengates Construction Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Miss A K Karger
Mr C N Sheppard





REGISTERED OFFICE: 1c Amberside Wood Lane
Paradise Industrial Estate
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 11451420 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Greengates Construction Ltd (Registered number: 11451420)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 35,237 44,959

CURRENT ASSETS
Stocks 6 19,895 25,575
Debtors 7 1,868 16,824
Cash at bank 50,945 44,545
72,708 86,944
CREDITORS
Amounts falling due within one year 8 78,229 84,220
NET CURRENT (LIABILITIES)/ASSETS (5,521 ) 2,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,716

47,683

CREDITORS
Amounts falling due after more than one
year

9

(29,113

)

(40,668

)

PROVISIONS FOR LIABILITIES (847 ) (3,086 )
NET (LIABILITIES)/ASSETS (244 ) 3,929

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 11 (247 ) 3,926
SHAREHOLDERS' FUNDS (244 ) 3,929

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.

Greengates Construction Ltd (Registered number: 11451420)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





Mr C N Sheppard - Director


Greengates Construction Ltd (Registered number: 11451420)

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

1. STATUTORY INFORMATION

Greengates Construction 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Greengates Construction Ltd (Registered number: 11451420)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022
and 31 July 2023 33,032 45,804 950 731 80,517
DEPRECIATION
At 1 August 2022 19,107 15,448 649 354 35,558
Charge for year 3,481 6,071 76 94 9,722
At 31 July 2023 22,588 21,519 725 448 45,280
NET BOOK VALUE
At 31 July 2023 10,444 24,285 225 283 35,237
At 31 July 2022 13,925 30,356 301 377 44,959

6. STOCKS
31.7.23 31.7.22
£    £   
Work-in-progress 19,895 25,575

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 1,868 16,824

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Finance leases 1,555 4,563
Trade creditors - 15,661
Taxation and social security 7,500 10,454
Other creditors 69,174 53,542
78,229 84,220

Greengates Construction Ltd (Registered number: 11451420)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 29,113 39,113
Finance leases - 1,555
29,113 40,668

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1 Ordinary £1 1 1
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
3 3

11. RESERVES
Retained
earnings
£   

At 1 August 2022 3,926
Deficit for the year (4,173 )
At 31 July 2023 (247 )