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REGISTERED NUMBER: 05456298 (England and Wales)















THE GREEN TRANSPORT COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


THE GREEN TRANSPORT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: I A G Mack





REGISTERED OFFICE: 177-179 New Town Row
Birmingham
West Midlands
B6 4QZ





REGISTERED NUMBER: 05456298 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 15,976

CURRENT ASSETS
Stocks - 9,456
Debtors 5 182,168 976,640
Cash at bank and in hand 96,724 21,014
278,892 1,007,110
CREDITORS
Amounts falling due within one year 6 745,000 1,084,818
NET CURRENT LIABILITIES (466,108 ) (77,708 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(466,108

)

(61,732

)

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(110,121

)

PROVISIONS FOR LIABILITIES - (2,468 )
NET LIABILITIES (488,608 ) (174,321 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital redemption reserve 2 2
Retained earnings (489,610 ) (175,323 )
(488,608 ) (174,321 )

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

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

THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

BALANCE SHEET - continued
31ST 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 director and authorised for issue on 30th July 2024 and were signed by:





I A G Mack - Director


THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

The Green Transport Company Limited 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 recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

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

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.


THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST 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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 63 ) .

THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. TANGIBLE FIXED ASSETS
Computer
Improvements Fixtures and
to Plant and and office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st August 2022 30,258 220,951 14,714 46,487 312,410
Disposals (30,258 ) (220,951 ) (14,714 ) (46,487 ) (312,410 )
At 31st July 2023 - - - - -
DEPRECIATION
At 1st August 2022 30,258 205,926 14,277 45,973 296,434
Eliminated on disposal (30,258 ) (205,926 ) (14,277 ) (45,973 ) (296,434 )
At 31st July 2023 - - - - -
NET BOOK VALUE
At 31st July 2023 - - - - -
At 31st July 2022 - 15,025 437 514 15,976

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 85,000
Amounts owed by group undertakings 76,297 680,026
Other debtors 105,871 211,614
182,168 976,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 193,644 113,496
Trade creditors 77,999 276,679
Amounts owed to group undertakings 275,721 272,897
Taxation and social security 30,478 128,407
Other creditors 167,158 293,339
745,000 1,084,818

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 110,121

8. SECURED DEBTS

Bank loans are secured by way of a fixed and floating charge over all assets of the company and by a government-backed guarantee.

THE GREEN TRANSPORT COMPANY LIMITED (REGISTERED NUMBER: 05456298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Birmingham Busworks Limited is controlled by the director of The Green Transport Company Limited.

Services, goods and assets were purchased from Birmingham Busworks Limited to the value of £21,965 (2022: £148,875). At the year end £Nil (2022: £Nil) was owed to The Green Transport Company Ltd for these purchases.

Services were sold to Birmingham Busworks Limited to the value of £26,237 (2022: £222,985). At the year end £Nil (2022: £Nil) was owed from Birmingham Busworks Limited for these sales.

During the year funds were loaned to Birmingham Busworks Limited and at the year end the company still owed £10,163 (2022: £nil). No interest is being charged on the loan and no set repayment terms have been placed on it.

During the previous year funds were loaned to Birmingham Busworks Limited and at the year end the company still owed £nil(2022: £22,355). No interest is being charged on the loan and no set repayment terms have been placed on it.

10. ULTIMATE CONTROLLING PARTY

Ultimate parent company
The ultimate parent company is Birmingham City Transport Limited, a company registered in England and Wales.

Ultimate controlling party
The ultimate controlling party is Mr I A G Mack, by virtue of his controlling interest in the ultimate parent company.