IRIS Accounts Production v24.2.0.383 SC163298 Board of Directors 1.1.23 31.12.23 31.12.23 26.2.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1632982022-12-31SC1632982023-12-31SC1632982023-01-012023-12-31SC1632982021-12-31SC1632982022-01-012022-12-31SC1632982022-12-31SC163298ns15:Scotland2023-01-012023-12-31SC163298ns14:PoundSterling2023-01-012023-12-31SC163298ns10:Director12023-01-012023-12-31SC163298ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC163298ns10:SmallEntities2023-01-012023-12-31SC163298ns10:Audited2023-01-012023-12-31SC163298ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC163298ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC163298ns10:AbridgedAccounts2023-01-012023-12-31SC163298ns10:Director52023-01-012023-12-31SC163298ns10:RegisteredOffice2023-01-012023-12-31SC163298ns5:CurrentFinancialInstruments2023-12-31SC163298ns5:CurrentFinancialInstruments2022-12-31SC163298ns5:ShareCapital2023-12-31SC163298ns5:ShareCapital2022-12-31SC163298ns5:SharePremium2023-12-31SC163298ns5:SharePremium2022-12-31SC163298ns5:CapitalRedemptionReserve2023-12-31SC163298ns5:CapitalRedemptionReserve2022-12-31SC163298ns5:RetainedEarningsAccumulatedLosses2023-12-31SC163298ns5:RetainedEarningsAccumulatedLosses2022-12-31SC163298ns5:LeaseholdImprovements2023-01-012023-12-31SC163298ns5:PlantMachinery2023-01-012023-12-31SC163298ns5:FurnitureFittings2023-01-012023-12-31SC163298ns5:ComputerEquipment2023-01-012023-12-31SC16329812023-01-012023-12-31
REGISTERED NUMBER: SC163298 (Scotland)












EUROPEAN TURFGRASS LABORATORIES
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






EUROPEAN TURFGRASS LABORATORIES
LIMITED (REGISTERED NUMBER: SC163298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


EUROPEAN TURFGRASS LABORATORIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs S Singleton-Bruce
Prof D M James





REGISTERED OFFICE: Unit 6, Millar Court
Alloa Business Park
The Whins
Alloa
Clackmannanshire
FK10 3SA





REGISTERED NUMBER: SC163298 (Scotland)





AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

EUROPEAN TURFGRASS LABORATORIES
LIMITED (REGISTERED NUMBER: SC163298)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,657 14,656

CURRENT ASSETS
Stocks 17,148 5,384
Debtors 168,734 104,459
Cash at bank 164,905 256,378
350,787 366,221
CREDITORS
Amounts falling due within one year 109,648 74,220
NET CURRENT ASSETS 241,139 292,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,796

306,657

PROVISIONS FOR LIABILITIES 6,581 2,296
NET ASSETS 263,215 304,361

CAPITAL AND RESERVES
Called up share capital 17,500 17,500
Share premium 440 440
Capital redemption reserve 1,000 1,000
Retained earnings 244,275 285,421
SHAREHOLDERS' FUNDS 263,215 304,361

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:



Mrs S Singleton-Bruce - Director


EUROPEAN TURFGRASS LABORATORIES
LIMITED (REGISTERED NUMBER: SC163298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

European Turfgrass Laboratories Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents the net invoiced value of services supplied, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 33% on cost
Laboratory equipment - 10% on cost
Fixtures - 20% on cost
Computer equipment - 33% on cost

The leasehold improvements are written off over the term of the lease.


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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


EUROPEAN TURFGRASS LABORATORIES
LIMITED (REGISTERED NUMBER: SC163298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 113,904
Additions 18,012
At 31 December 2023 131,916
DEPRECIATION
At 1 January 2023 99,248
Charge for year 4,011
At 31 December 2023 103,259
NET BOOK VALUE
At 31 December 2023 28,657
At 31 December 2022 14,656

EUROPEAN TURFGRASS LABORATORIES
LIMITED (REGISTERED NUMBER: SC163298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

6. RELATED PARTY DISCLOSURES

The company had the following related party transactions with non-wholly owned group companies:

20232022
££
Sales74,46480,028
Debtors3,77853,769
Purchases 1,584-
Creditors-7,872
Management fees payable33,15350,820

7. ULTIMATE CONTROLLING PARTY

The company was, at the end of the year, a wholly owned subsidiary of another company incorporated in England and Wales. This parent company, European Turfgrass Laboratories (Holdings) Limited, is a wholly owned subsidiary in its own right. The ultimate parent company prepares consolidated financial statements.

The directors consider the ultimate controlling party to be Greenpeak Fund II GmbH & Co., KG, a company incorporated in Germany. The correspondence address for Greenpeak Fund II GmbH & Co. KG is Theatinerstraße 14, D – 80333 München, Germany.

The financial statements for Greenpeak Fund II GmbH & Co. KG are publicly available from the following web address:
https://www.unternehmensregister.de/ureg/index.html;jsessionid=962F31A05B9D7D6208CC A361DC7C22AE.web02-1