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COMPANY REGISTRATION NUMBER: 12315976
GREENFISHER CONTRACTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
GREENFISHER CONTRACTING LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
899,139
986,539
CURRENT ASSETS
Debtors
6
1,266,558
992,612
Cash at bank and in hand
594,597
1,252,008
------------
------------
1,861,155
2,244,620
CREDITORS: amounts falling due within one year
7
1,457,317
1,526,216
------------
------------
NET CURRENT ASSETS
403,838
718,404
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,302,977
1,704,943
CREDITORS: amounts falling due after more than one year
8
498,630
639,910
PROVISIONS
190,102
210,476
------------
------------
NET ASSETS
614,245
854,557
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
614,244
854,556
---------
---------
SHAREHOLDERS FUNDS
614,245
854,557
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GREENFISHER CONTRACTING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Mr K J Collins
Director
Company registration number: 12315976
GREENFISHER CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Equipment - 33% straight line
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 19 (2023: 19 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
1,118,698
130,499
12,778
1,261,975
Additions
177,193
43,500
220,693
------------
---------
--------
------------
At 30 April 2024
1,295,891
173,999
12,778
1,482,668
------------
---------
--------
------------
Depreciation
At 1 May 2023
235,759
34,197
5,480
275,436
Charge for the year
268,496
35,786
3,811
308,093
------------
---------
--------
------------
At 30 April 2024
504,255
69,983
9,291
583,529
------------
---------
--------
------------
Carrying amount
At 30 April 2024
791,636
104,016
3,487
899,139
------------
---------
--------
------------
At 30 April 2023
882,939
96,302
7,298
986,539
------------
---------
--------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
Motor vehicles
Total
£
£
£
At 30 April 2024
688,010
104,016
792,026
---------
---------
---------
At 30 April 2023
816,833
96,302
913,135
---------
---------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
1,115,361
737,606
Amounts owed by group undertakings and undertakings in which the company has a participating interest
42,468
36,474
Other debtors
108,729
218,532
------------
---------
1,266,558
992,612
------------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,234
9,979
Trade creditors
649,391
669,694
Corporation tax
36,559
Social security and other taxes
152,610
16,471
Other creditors
608,523
830,072
------------
------------
1,457,317
1,526,216
------------
------------
Included within other creditors is £252,514 (2023 - £211,765) that relates to Hire purchase and finance lease creditors.
Hire purchase and finance lease creditors are secured against the assets they relate to.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,374
21,608
Other creditors
487,256
618,302
---------
---------
498,630
639,910
---------
---------
Included within other creditors is £487,256 (2023 - £618,302) that relates to Hire purchase and finance lease creditors.
Hire purchase and finance lease creditors are secured against the assets they relate to.