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Registered number: 01352665
Greenways Construction (Avon) And Agricultural Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01352665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 292,398 397,200
292,398 397,200
CURRENT ASSETS
Debtors 5 118,032 179,575
Cash at bank and in hand 143,321 275,042
261,353 454,617
Creditors: Amounts Falling Due Within One Year 6 (230,960 ) (205,358 )
NET CURRENT ASSETS (LIABILITIES) 30,393 249,259
TOTAL ASSETS LESS CURRENT LIABILITIES 322,791 646,459
Creditors: Amounts Falling Due After More Than One Year 7 (144,708 ) (226,817 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,255 ) (55,983 )
NET ASSETS 156,828 363,659
CAPITAL AND RESERVES
Called up share capital 9 60 60
Profit and Loss Account 156,768 363,599
SHAREHOLDERS' FUNDS 156,828 363,659
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joseph O'Leary
Director
Mrs Rachel O'Leary
Director
20 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Greenways Construction (Avon) And Agricultural Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01352665 . The registered office is Unit 33 Burnett Business Park , Gypsy Lane, Keynsham, Bristol, BS31 2ED.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable excluding discounts, rebates, Value Added Tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% on cost
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment straight line over three years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts or 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 the 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 operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 28,906 1,077,745 27,618 10,842
Additions - 82,823 - -
As at 31 March 2024 28,906 1,160,568 27,618 10,842
Depreciation
As at 1 April 2023 28,788 682,364 27,618 9,363
Provided during the period 39 186,888 - 555
As at 31 March 2024 28,827 869,252 27,618 9,918
Net Book Value
As at 31 March 2024 79 291,316 - 924
As at 1 April 2023 118 395,381 - 1,479
Computer Equipment Total
£ £
Cost
As at 1 April 2023 2,844 1,147,955
Additions - 82,823
As at 31 March 2024 2,844 1,230,778
Depreciation
As at 1 April 2023 2,622 750,755
Provided during the period 143 187,625
As at 31 March 2024 2,765 938,380
Net Book Value
As at 31 March 2024 79 292,398
As at 1 April 2023 222 397,200
The following values, which are included in the above, relate to fixed assts held under hire purchase contracts:
2024 2023
£ £
Plant & Machinery 284,448 384,057
Motor Vehicles - 52,043
284,448 436,100
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Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,474 137,441
Prepayments 557 1,931
Corporation Tax recoverable - 8,750
VAT 11,020 12,064
Directors' loan accounts 9,981 17,389
Amounts owed by associates 2,000 2,000
118,032 179,575
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 126,074 129,373
Trade creditors 28,964 27,928
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 5,677 4,246
Other creditors 1,968 2,019
Accrued expenses 2,910 2,860
Directors' loan accounts 4,859 -
Amounts owed to associates 50,508 28,932
230,960 205,358
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 130,541 202,650
Bank loans 14,167 24,167
144,708 226,817
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 126,074 129,373
Later than one year and not later than five years 130,541 202,650
256,615 332,023
256,615 332,023
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 60 60
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Joseph O'Leary - 19,495 (9,338 ) - 9,981
Mrs Rachel O'Leary 9,338 - (9,338 ) - -
The above loans are unsecured, interest free and repayable on demand.
11. Related Party Transactions
Redrock Plant Hire Ltd
The directors of the company have an interest in transactions with Redrock Plant Hire Ltd as directors and shareholders. 
During the year ended 31 March 2024, the company hired plant from Redrock Plant Hire Ltd at an arms length cost of £20,371 (2023: £32,988). In addition, management charges of £24,000 (2023: £24,000) were payable to Redrock Plant Hire Ltd.  
At the balance sheet date the amount due to Redrock Plant Hire Ltd was £50,508 (2023: £28,932).
Greenways Plant Hire Ltd
The directors of the company have an interest in transactions with Greenways Plant Hire Ltd as directors and shareholders. 
During the year ended 31 March 2024, the company used subcontractor services from Greenways Plant Hire Ltd at an arms length cost of £221,577 (2023: £199,611). At the balance sheet date the amount due to Greenways Plant Hire Ltd was £Nil (2023: £Nil).
The company has given an interest free loan to Greenways Plant Hire Ltd, which is repayable on demand.  At the balance sheet date the amount due from Greenways Plant Hire Ltd was £2,000 (2023: £2,000).
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