Green-line Contracts Limited 03920926 Motor vehicle rental company. The company's wholly owned subsidiary company Blink Reservations Limited carries on the same principal activity as this company. false 1 April 2023 03920926 2023-04-01 2024-03-31 03920926 2023-03-31 03920926 2024-03-31 03920926 2022-04-01 2023-03-31 03920926 2022-03-31 03920926 2023-03-31 03920926 frs102-bus:FRS102 2023-04-01 2024-03-31 03920926 frs102-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03920926 frs102-bus:FullAccounts 2023-04-01 2024-03-31 03920926 frs102-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03920926 frs102-core:CurrentFinancialInstruments 2024-03-31 03920926 frs102-core:CurrentFinancialInstruments 2023-03-31 03920926 frs102-core:Non-currentFinancialInstruments 2024-03-31 03920926 frs102-core:Non-currentFinancialInstruments 2023-03-31 03920926 frs102-core:ShareCapital 2024-03-31 03920926 frs102-core:ShareCapital 2023-03-31 03920926 frs102-core:RetainedEarningsAccumulatedLosses 2024-03-31 03920926 frs102-core:RetainedEarningsAccumulatedLosses 2023-03-31 03920926 frs102-bus:Director1 2023-04-01 2024-03-31 03920926 frs102-core:ComputerEquipment 2023-04-01 2024-03-31 03920926 frs102-core:ToolsEquipment 2023-04-01 2024-03-31 03920926 frs102-core:Vehicles 2023-04-01 2024-03-31 03920926 frs102-core:ComputerEquipment 2023-03-31 03920926 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-03-31 03920926 frs102-core:Vehicles 2023-03-31 03920926 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-04-01 2024-03-31 03920926 frs102-core:ComputerEquipment 2024-03-31 03920926 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2024-03-31 03920926 frs102-core:Vehicles 2024-03-31 03920926 frs102-core:ComputerEquipment 2023-03-31 03920926 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-03-31 03920926 frs102-core:Vehicles 2023-03-31 03920926 frs102-bus:OrdinaryShareClass1 2024-03-31 03920926 frs102-bus:OrdinaryShareClass1 2023-03-31 03920926 frs102-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03920926 frs102-bus:PreferenceShareClass1 2024-03-31 03920926 frs102-bus:PreferenceShareClass1 2023-03-31 03920926 frs102-bus:PreferenceShareClass1 2023-04-01 2024-03-31 03920926 frs102-bus:PreferenceShareClass1 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
03920926
Green-line Contracts Limited
Unaudited Accounts
for the year ended
31 March 2024
Green-line Contracts Limited
Balance Sheet
as at 31 March 2024
Notes
2024
£
2023
£
Fixed assets
Tangible assets 3 11,810,797 9,665,757
Investments 100 100
11,810,897 9,665,857
Current assets
Stocks 46,897 50,502
Debtors 651,268 764,056
Cash at bank and in hand 2,808 47
700,973 814,605
Creditors: amounts falling due within one year (4,877,760) (4,371,244)
Net current assets / (liabilities) (4,176,787) (3,556,639)
Total assets less current liabilities 7,634,110 6,109,218
Creditors: amounts falling due after more than one year (3,828,770) (2,613,241)
Provisions for liabilities (1,058,365) (871,641)
Total net assets (liabilities) 2,746,975 2,624,336
Capital and reserves
Called up share capital 4 859,000 859,000
Profit and loss account 1,887,975 1,765,336
Shareholders' funds 2,746,975 2,624,336

Green-line Contracts Limited
Balance Sheet
as at 31 March 2024



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

P Green

Director


Approved by the board on 1 August 2024

Company Number: 03920926 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

Cowfield Mill
Northway
Tewkesbury
Gloucestershire
GL20 8HG

Green-line Contracts Limited
Notes to the Accounts
for the year ended 31 March 2024

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods or services is recognised when goods or services are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Computer equipment 40% Reducing Balance
Equipment 25% Reducing Balance
Vehicles 28% Reducing Balance
Stocks
Stocks are stated at the lower of cost and the use to the company value. Stocks are for use by the company only and are not for resale and are valued on a first-in-first-out basis.

When stocks are used, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax.
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.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Leases and hire purchase contracts
Assets obtained under hire purchase contracts and 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 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 short-term operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Pensions
Contributions in respect of the company's defined contribution pension schemes are charged to the profit and loss account for the year in which they are payable to the pension schemes.
Other accounting policies
Consolidation
The company's subsidiary undertaking ceased to trade on 31 march 2017 and is dormant.

Investments
The fixed asset investment is stated at cost.
2. Employees
2024 2023
Average number of employees during the period 26 23

3. Tangible fixed assets
Computer equipment Equipment Vehicles Total
Cost or valuation £ £ £ £
At 1 April 2023 329,232 471,454 12,560,749 13,361,435
Additions 0 106,438 5,731,617 5,838,055
Disposals (0) (26,068) (4,374,889) (4,400,957)
At 31 March 2024 329,232 551,824 13,917,477 14,798,533
Depreciation
At 1 April 2023 306,572 186,104 3,203,002 3,695,678
Charge for the period 10,715 51,374 1,173,469 1,235,558
On disposals (0) (26,068) (1,917,432) (1,943,500)
At 31 March 2024 317,287 211,410 2,459,039 2,987,736
Net book value
At 31 March 2024 11,945 340,414 11,458,438 11,810,797
At 31 March 2023 22,660 285,350 9,357,747 9,665,757

Included in the figures for tangible fixed assets are 255 (2023 - 249) motor vehicles and plant being acquired under finance leases and hire purchase contracts as follows:-

Cost at 31 March 2024 Motor vehicles £10278666 Equipment £71044
Depreciation at 31 March 2024 Motor vehicles £909358 Equipment £13678
Net book value at 31 March 2024 Motor vehicles £9369308 Equipment £57366


4. Share capital
2024 2023
£ £
Allotted, called up and fully paid:
2,989 (2023: 2,989) A Ordinary shares of £1.00 each 2,989 2,989
Allotted, called up and fully paid:
1,999 (2023: 1,999) B Ordinary shares of £1.00 each 1,999 1,999
Allotted, called up and fully paid:
10 (2023: 10) C Ordinary shares of £1.00 each 10 10
Allotted, called up and fully paid:
2,989 (2023: 2,989) D Ordinary shares of £1.00 each 2,989 2,989
Allotted, called up and fully paid:
1,003 (2023: 1,003) Ordinary shares of £1.00 each 1,003 1,003
Allotted, called up and fully paid:
10 (2023: 10) E Ordinary shares of £1.00 each 10 10
Allotted, called up and fully paid:
500,000 (2023: 500,000) Preference shares of £1.00 each 500,000 500,000
Allotted, called up and fully paid:
350,000 (2023: 350,000) Redeemable Preference shares of £1.00 each 350,000 350,000
859,000 859,000

Commitments, guarantees and contingencies

Notes

Pension commitments The company operates a defined contribution pension scheme on behalf of two directors the company secretary and a defined contribution Automatic Enrolment pension scheme on behalf of the employees. The assets of the schemes are held separately from those of the company in independently administered funds. There is no annual pension commitment under the directors and company's secretaries pension scheme for contributions and 3% (2023 -3%) of pensionable earnings for the employees in the Automatic enrolment scheme. Lease commitments - operating leases At the 31 March 2024 the company had annual commitments under non cancellable property operating leases of £146540 (2023 - £126040) and annual commitments under non cancellable vehicle operating leases of £152860 (2023 - £76909). Capital and other financial commitments, guarantees and contingencies On 6 February 2020 the company signed a guarantee for £320,000 to secure debts of Green-Line Holdings a business in which the directors are interested. The company had no capital or other financial commitments and contingencies at 31 March 2024 (2023 - None).

6. Other information

Creditors
Secured debts £7,392,564 (2023 - £5,556,029)

Green-Line Contracts Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Cowfield Mill, Northway Lane, Tewkesbury, Gloucester GL20 8HG

The financial statements are presented in Sterling, which is the functional currency of the company.

During the two years ending on the 31 March 2024, Mrs. P. A. Green together with her three adult children and their families D. D. Green, N. C. Green, Mrs. P. Green, P. E. Green, Mrs W A Green, controlled the company as they own all the issued ordinary share capital.

The principal activity of the company in the year under review was that of a motor vehicle rental company. The company's wholly owned subsidiary company Blink Reservations Limited was dormant during the year.

The company trades under the name GBV Rentals.