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REGISTERED NUMBER: 02252910 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Greens (Decorating) Contractors Limited

Greens (Decorating) Contractors Limited (Registered number: 02252910)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Greens (Decorating) Contractors Limited (Registered number: 02252910)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 210,508 214,472

CURRENT ASSETS
Stocks 6,186 5,190
Debtors 5 846,291 708,305
Cash at bank and in hand 232,019 228,300
1,084,496 941,795
CREDITORS
Amounts falling due within one year 6 423,486 349,375
NET CURRENT ASSETS 661,010 592,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

871,518

806,892

CREDITORS
Amounts falling due after more than one
year

7

(70,229

)

(21,636

)

PROVISIONS FOR LIABILITIES (43,041 ) (43,516 )
NET ASSETS 758,248 741,740

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 758,048 741,540
SHAREHOLDERS' FUNDS 758,248 741,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Greens (Decorating) Contractors Limited (Registered number: 02252910)

Balance Sheet - continued
31 May 2024


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 10 October 2024 and were signed on its behalf by:





F H Tyne - Director


Greens (Decorating) Contractors Limited (Registered number: 02252910)

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

1. STATUTORY INFORMATION

Greens (Decorating) Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02252910

Registered office: Greens Decorating Contractors Ltd
School Street
Morley
Leeds
West Yorkshire
LS27 8BW

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Revenue from the sale of goods is recognised when goods are delivered and legal title passes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight Line over Lease Period
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Greens (Decorating) Contractors Limited (Registered number: 02252910)

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

2. ACCOUNTING POLICIES - continued

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 42 (2023 - 43 ) .

Greens (Decorating) Contractors Limited (Registered number: 02252910)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 65,642 180,862 526,182 64,297 836,983
Additions - 175 92,899 2,744 95,818
Disposals - - (100,158 ) - (100,158 )
Impairments - - (6,407 ) - (6,407 )
At 31 May 2024 65,642 181,037 512,516 67,041 826,236
DEPRECIATION
At 1 June 2023 37,765 157,623 374,136 52,987 622,511
Charge for year 1,312 3,512 52,833 2,108 59,765
Eliminated on disposal - - (66,548 ) - (66,548 )
At 31 May 2024 39,077 161,135 360,421 55,095 615,728
NET BOOK VALUE
At 31 May 2024 26,565 19,902 152,095 11,946 210,508
At 31 May 2023 27,877 23,239 152,046 11,310 214,472

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 90,000
At 31 May 2024 90,000
DEPRECIATION
Charge for year 22,500
At 31 May 2024 22,500
NET BOOK VALUE
At 31 May 2024 67,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 189,505 103,420
Amounts owed by group undertakings 260,000 300,000
Amounts recoverable on contract 358,743 265,920
Other debtors 38,043 38,965
846,291 708,305

Greens (Decorating) Contractors Limited (Registered number: 02252910)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,391 9,198
Hire purchase contracts 8,410 -
Trade creditors 166,903 120,378
Taxation and social security 113,740 143,490
Other creditors 125,042 76,309
423,486 349,375

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 11,443 21,636
Hire purchase contracts 58,786 -
70,229 21,636

8. SECURED DEBTS

An Unlimited Debenture dated 13/07/1990 incorporating a fixed and floating charge with Lloyds Bank PLC.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loaned funds to the company on an interest free basis during the financial year. The balance due to the directors as at 31 May 2024 was £61,890 [2023: nil].

10. ULTIMATE CONTROLLING PARTY

The controlling party is Greens Commercial Holdings Limited.