REGISTERED NUMBER: |
EUROPEAN TURFGRASS LABORATORIES |
LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Leasehold improvements | - |
Laboratory equipment | - |
Fixtures | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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. |
for and on behalf of |
6. | RELATED PARTY DISCLOSURES |
The company had the following related party transactions with non-wholly owned group companies: |
2023 | 2022 |
£ | £ |
Sales | 74,464 | 80,028 |
Debtors | 3,778 | 53,769 |
Purchases | 1,584 | - |
Creditors | - | 7,872 |
Management fees payable | 33,153 | 50,820 |
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 |