Company registration number 04996080 (England and Wales)
GREENGRASSI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
GREENGRASSI LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GREENGRASSI LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,392
3,875
Current assets
Stocks
1,071,815
1,015,650
Debtors
4
262,463
90,238
Cash at bank and in hand
1,426,018
1,647,167
2,760,296
2,753,055
Creditors: amounts falling due within one year
5
(86,818)
(47,492)
Net current assets
2,673,478
2,705,563
Total assets less current liabilities
2,688,870
2,709,438
Provisions for liabilities
(3,848)
(969)
Net assets
2,685,022
2,708,469
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,685,021
2,708,468
Total equity
2,685,022
2,708,469
GREENGRASSI LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 15 October 2024
Ms C Grassi
Director
Company registration number 04996080 (England and Wales)
GREENGRASSI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Greengrassi Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1a Kempsford Road, London, SE11 4NU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

 

Revenue is recognised when the risks and rewards of ownership have passed to the buyer which usually on despatch of the goods, the amount of revenue and the costs associated with the transaction can be measured reliably and it is probable that economic benefits a will flow to the entity.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

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

 

Cost comprises direct material and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. An impairment loss, or its subsequent reversal, is taken to the profit and loss account when the carrying amount is less than the recoverable amount.

 

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost.

GREENGRASSI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GREENGRASSI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 February 2023
17,644
44,198
61,842
Additions
14,937
3,327
18,264
Disposals
(838)
-
0
(838)
At 31 January 2024
31,743
47,525
79,268
Depreciation and impairment
At 1 February 2023
15,491
42,476
57,967
Depreciation charged in the year
3,282
2,793
6,075
Eliminated in respect of disposals
(166)
-
0
(166)
At 31 January 2024
18,607
45,269
63,876
Carrying amount
At 31 January 2024
13,136
2,256
15,392
At 31 January 2023
2,153
1,722
3,875
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
170,071
42,077
Other debtors
77,435
39,675
247,506
81,752
Deferred tax asset
14,957
8,486
262,463
90,238
GREENGRASSI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11
-
0
Trade creditors
45,118
22,164
Taxation and social security
52
466
Other creditors
41,637
24,862
86,818
47,492
2024-01-312023-02-01false15 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMs C Grassifalsefalse049960802023-02-012024-01-31049960802024-01-31049960802023-01-3104996080core:FurnitureFittings2024-01-3104996080core:ComputerEquipment2024-01-3104996080core:FurnitureFittings2023-01-3104996080core:ComputerEquipment2023-01-3104996080core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3104996080core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3104996080core:CurrentFinancialInstruments2024-01-3104996080core:CurrentFinancialInstruments2023-01-3104996080core:ShareCapital2024-01-3104996080core:ShareCapital2023-01-3104996080core:RetainedEarningsAccumulatedLosses2024-01-3104996080core:RetainedEarningsAccumulatedLosses2023-01-3104996080bus:Director12023-02-012024-01-3104996080core:FurnitureFittings2023-02-012024-01-3104996080core:ComputerEquipment2023-02-012024-01-31049960802022-02-012023-01-3104996080core:FurnitureFittings2023-01-3104996080core:ComputerEquipment2023-01-31049960802023-01-3104996080core:WithinOneYear2024-01-3104996080core:WithinOneYear2023-01-3104996080bus:PrivateLimitedCompanyLtd2023-02-012024-01-3104996080bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104996080bus:FRS1022023-02-012024-01-3104996080bus:AuditExemptWithAccountantsReport2023-02-012024-01-3104996080bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP