Registered number
04983071
Greenstripe Limited
Filleted Accounts
31 March 2024
Greenstripe Limited
Registered number: 04983071
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 212,569 165,941
Current assets
Stocks 725 5,321
Debtors 5 264,884 208,346
Cash at bank and in hand 74,778 191,914
340,387 405,581
Creditors: amounts falling due within one year 6 (78,235) (125,293)
Net current assets 262,152 280,288
Total assets less current liabilities 474,721 446,229
Provisions for liabilities (53,142) (31,529)
Net assets 421,579 414,700
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 420,579 413,700
Shareholder's funds 421,579 414,700
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.
Mr J Poole
Director
Approved by the board on 14 August 2024
Greenstripe Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3-4 years
Fixtures, fittings, tools and equipment over 3 years
Motor vehicles over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 42,500
At 31 March 2024 42,500
Amortisation
At 1 April 2023 42,500
At 31 March 2024 42,500
Net book value
At 31 March 2024 -
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 298,196 320,068 618,264
Additions 80,150 73,800 153,950
Disposals - (103,557) (103,557)
At 31 March 2024 378,346 290,311 668,657
Depreciation
At 1 April 2023 215,627 236,696 452,323
Charge for the year 51,949 55,373 107,322
On disposals - (103,557) (103,557)
At 31 March 2024 267,576 188,512 456,088
Net book value
At 31 March 2024 110,770 101,799 212,569
At 31 March 2023 82,569 83,372 165,941
5 Debtors 2024 2023
£ £
Trade debtors 224,083 168,266
Other debtors 40,801 40,080
264,884 208,346
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 17,257
Trade creditors 17,515 24,959
Taxation and social security costs 58,670 81,031
Other creditors 2,050 2,046
78,235 125,293
7 Controlling party
The ultimate controlling party is Mr J Poole.
8 Other information
Greenstripe Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Sealand Nursery
Deeside Lane
Sealand
Chester
CH1 6DD
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