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Registered number: 08409189
Grassplant Limited
Financial Statements
For The Year Ended 31 July 2023
Christie & Co
Certified Public Accountants
Crews Hill Golf Club
Cattlegate Road
Enfield
EN2 8AZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08409189
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 345,174 188,122
Investments 5 100,500 100,500
445,674 288,622
CURRENT ASSETS
Debtors 6 92,838 117,053
Cash at bank and in hand 148,616 72,644
241,454 189,697
Creditors: Amounts Falling Due Within One Year 7 (193,443 ) (167,013 )
NET CURRENT ASSETS (LIABILITIES) 48,011 22,684
TOTAL ASSETS LESS CURRENT LIABILITIES 493,685 311,306
Creditors: Amounts Falling Due After More Than One Year 8 (246,899 ) (135,622 )
NET ASSETS 246,786 175,684
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 246,784 175,682
SHAREHOLDERS' FUNDS 246,786 175,684
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For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Guy
Director
30/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grassplant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08409189 . The registered office is 24-26 Parliament Square, Hertford, Hertfordshire, SG14 1EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2022: 34)
28 34
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2022 316,463 5,000 321,463
Additions 234,873 46,833 281,706
Disposals (90,240 ) - (90,240 )
As at 31 July 2023 461,096 51,833 512,929
Depreciation
As at 1 August 2022 131,154 2,187 133,341
Provided during the period 90,408 12,958 103,366
Disposals (68,952 ) - (68,952 )
As at 31 July 2023 152,610 15,145 167,755
Net Book Value
As at 31 July 2023 308,486 36,688 345,174
As at 1 August 2022 185,309 2,813 188,122
5. Investments
Subsidiaries
£
Cost
As at 1 August 2022 100,500
As at 31 July 2023 100,500
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 100,500
As at 1 August 2022 100,500
Other Investments - Wholly Owned Subsidiary

Martin Guy Developments Ltd

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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 50,346
Prepayments and accrued income 40,393 3,206
Staff loans 200 -
40,593 53,552
Due after more than one year
Amounts owed by subsidiaries 52,245 63,501
92,838 117,053
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 92,634 54,228
Corporation tax 16,752 10,387
Other taxes and social security 14,523 13,771
VAT 62,895 76,435
Accruals and deferred income 6,000 12,000
Director's loan account 639 192
193,443 167,013
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 223,596 96,454
Bank loans 23,303 39,168
246,899 135,622
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 223,596 96,454
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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