IRIS Accounts Production v24.2.0.383 03918487 Board of Directors 1.6.23 31.5.24 31.5.24 11/9/2024 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039184872023-05-31039184872024-05-31039184872023-06-012024-05-31039184872022-05-31039184872022-06-012023-05-31039184872023-05-3103918487ns15:EnglandWales2023-06-012024-05-3103918487ns14:PoundSterling2023-06-012024-05-3103918487ns10:Director12023-06-012024-05-3103918487ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3103918487ns10:SmallEntities2023-06-012024-05-3103918487ns10:Audited2023-06-012024-05-3103918487ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3103918487ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3103918487ns10:FullAccounts2023-06-012024-05-310391848712023-06-012024-05-3103918487ns10:Director22023-06-012024-05-3103918487ns10:Director32023-06-012024-05-3103918487ns10:Director42023-06-012024-05-3103918487ns10:RegisteredOffice2023-06-012024-05-3103918487ns5:CurrentFinancialInstruments2024-05-3103918487ns5:CurrentFinancialInstruments2023-05-3103918487ns5:ShareCapital2024-05-3103918487ns5:ShareCapital2023-05-3103918487ns5:RetainedEarningsAccumulatedLosses2024-05-3103918487ns5:RetainedEarningsAccumulatedLosses2023-05-3103918487ns5:NetGoodwill2023-06-012024-05-3103918487ns5:NetGoodwill2023-05-3103918487ns5:NetGoodwill2024-05-3103918487ns5:NetGoodwill2023-05-3103918487ns5:LandBuildings2023-05-3103918487ns5:PlantMachinery2023-05-3103918487ns5:LandBuildings2023-06-012024-05-3103918487ns5:PlantMachinery2023-06-012024-05-3103918487ns5:LandBuildings2024-05-3103918487ns5:PlantMachinery2024-05-3103918487ns5:LandBuildings2023-05-3103918487ns5:PlantMachinery2023-05-3103918487ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3103918487ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3103918487ns5:WithinOneYear2024-05-3103918487ns5:WithinOneYear2023-05-31
REGISTERED NUMBER: 03918487 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Green Team Interiors Limited

Green Team Interiors Limited (Registered number: 03918487)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Green Team Interiors Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M R Berriman
C W A Davis
R M Neal
B Tierney



REGISTERED OFFICE: Unit E2 The Brickyards
Steep Marsh
Petersfield
Hampshire
GU32 2BN



REGISTERED NUMBER: 03918487 (England and Wales)



SENIOR STATUTORY AUDITOR: Ben Hall FCA



AUDITORS: millhall consultants ltd
Carlson Suite
Vantage Point Business Village
Mitcheldean
Gloucestershire
GL17 0DD

Green Team Interiors Limited (Registered number: 03918487)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,322 8,393
5,322 8,393

CURRENT ASSETS
Stocks 191,941 162,624
Debtors 6 203,776 146,557
Cash at bank and in hand 179,902 236,242
575,619 545,423
CREDITORS
Amounts falling due within one year 7 274,359 219,686
NET CURRENT ASSETS 301,260 325,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,582

334,130

PROVISIONS FOR LIABILITIES 1,325 1,471
NET ASSETS 305,257 332,659

CAPITAL AND RESERVES
Called up share capital 153,000 153,000
Retained earnings 152,257 179,659
305,257 332,659

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 September 2024 and were signed on its behalf by:





M R Berriman - Director


Green Team Interiors Limited (Registered number: 03918487)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Green Team Interiors 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Intangible fixed assets held in the balance sheet represent purchased Goodwill. Purchased Goodwill is the difference between the cost and the aggregate of the fair values of assets and liabilities acquired.

Positive Goodwill is capitalised, classified on the balance sheet as an asset and amortised on a straight line basis over its useful economic life which the directors estimate to be 4 years. It is reviewed for impairment at the end of each financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Goodwill was acquired pre-2011 and has all been amortised to date.

Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,over their expected economic life as follows:
Goodwill 4 years straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class - Depreciation method and rate
Office Machinery & Systems and Software - over 4 years and over 3 years
Furniture and Fittings - over 5 years
External Gardening Equipment - over 2 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Green Team Interiors Limited (Registered number: 03918487)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 182,206
AMORTISATION
At 1 June 2023
and 31 May 2024 182,206
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Green Team Interiors Limited (Registered number: 03918487)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 7,810 134,751 142,561
Additions - 3,948 3,948
Disposals - (513 ) (513 )
At 31 May 2024 7,810 138,186 145,996
DEPRECIATION
At 1 June 2023 7,810 126,358 134,168
Charge for year - 7,019 7,019
Charge written back - (513 ) (513 )
At 31 May 2024 7,810 132,864 140,674
NET BOOK VALUE
At 31 May 2024 - 5,322 5,322
At 31 May 2023 - 8,393 8,393

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 153,140 107,967
Other debtors 50,636 38,590
203,776 146,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27,386 37,838
Taxation and social security 57,134 44,149
Other creditors 189,839 137,699
274,359 219,686

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 35,866 33,212

Green Team Interiors Limited (Registered number: 03918487)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. LEASING AGREEMENTS - continued

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

At 31 May 2024 the company had annual commitments under non-cancellable operating leases for Land & Buildings. The above details the breakdown of payments due under the five year lease which commenced 1st April 2023. The lease includes a break clause which the company has the right to exercise at 1st April 2025 and 1st April 2026.

Lease payments recognised as an expense in the accounts totals: £37,019.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ben Hall FCA (Senior Statutory Auditor)
for and on behalf of millhall consultants ltd