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Registration number: 07466587

Greenacre Cattery Limited

Annual Report and Unaudited Financial Statements

Pages for filing with the Registrar

for the Year Ended 31 March 2024

 

Greenacre Cattery Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

Greenacre Cattery Limited

Company Information

Directors

Mrs F L Zimmermann

Mr K W Zimmermann

Registered office

Carringtons Road
Great Bromley
Colchester
Essex
CO7 7XA

Accountants

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Greenacre Cattery Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Greenacre Cattery Limited for the year ended 31 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Greenacre Cattery Limited, as a body, in accordance with the terms of our engagement letter dated 28 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Greenacre Cattery Limited and state those matters that we have agreed to state to the Board of Directors of Greenacre Cattery Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greenacre Cattery Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Greenacre Cattery Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Greenacre Cattery Limited. You consider that Greenacre Cattery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Greenacre Cattery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

28 October 2024

 

Greenacre Cattery Limited

(Registration number: 07466587)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

102,442

111,163

 

102,443

111,164

Current assets

 

Stocks

6

1,350

1,350

Debtors

7

46,532

53,519

Cash at bank and in hand

 

101,884

81,850

 

149,766

136,719

Creditors: Amounts falling due within one year

8

(76,541)

(72,463)

Net current assets

 

73,225

64,256

Total assets less current liabilities

 

175,668

175,420

Creditors: Amounts falling due after more than one year

8

(75,832)

(90,335)

Provisions for liabilities (deferred taxation)

(116)

(156)

Net assets

 

99,720

84,929

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

99,620

84,829

Shareholders' funds

 

99,720

84,929

 

Greenacre Cattery Limited

(Registration number: 07466587)
Balance Sheet as at 31 March 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................
Mr K W Zimmermann
Director

 

Greenacre Cattery Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 April 2023

100

84,829

84,929

Profit for the year

-

100,791

100,791

Total comprehensive income

-

100,791

100,791

Dividends

-

(86,000)

(86,000)

At 31 March 2024

100

99,620

99,720

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 April 2022

100

40,180

40,280

Profit for the year

-

120,849

120,849

Total comprehensive income

-

120,849

120,849

Dividends

-

(76,200)

(76,200)

At 31 March 2023

100

84,829

84,929

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Carringtons Road
Great Bromley
Colchester
Essex
CO7 7XA

These financial statements were authorised for issue by the Board on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

4% straight line basis

Fixtures and fittings

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

written off over a 10 year period

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 7).

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 April 2023

180,000

180,000

At 31 March 2024

180,000

180,000

Amortisation

At 1 April 2023

179,999

179,999

At 31 March 2024

179,999

179,999

Carrying amount

At 31 March 2024

1

1

At 31 March 2023

1

1

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost

At 1 April 2023

213,600

6,302

219,902

At 31 March 2024

213,600

6,302

219,902

Depreciation

At 1 April 2023

103,145

5,594

108,739

Charge for the year

8,544

177

8,721

At 31 March 2024

111,689

5,771

117,460

Carrying amount

At 31 March 2024

101,911

531

102,442

At 31 March 2023

110,455

708

111,163

Included within the net book value of land and buildings above is £101,911 (2023 - £110,455) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

1,350

1,350

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

2024
£

2023
£

Trade debtors

46,329

53,295

Prepayments

180

224

Other debtors

23

-

46,532

53,519

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

8,400

8,400

Trade creditors

 

4,100

3,078

Taxation and social security

 

43,009

42,220

Accruals and deferred income

 

1,695

1,570

Other creditors

 

19,337

17,195

 

76,541

72,463

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

75,832

90,335

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

-

7,016

9

Reserves

The profit and loss reserves of the company are wholly distributable.

 

Greenacre Cattery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

32,612

40,616

Other borrowings

43,220

49,719

75,832

90,335

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,400

8,400

Bank borrowings

The Lloyds Bank loans are denominated in £ sterling with a nominal interest rate of 2% over bank base rate, and the final instalment is due on 28 June 2028. The carrying amount at year end is £41,012 (2023 - £49,016).

The loans are secured by a charge held over the assets owned by the company.

11

Dividends

2024

2023

£

£

Interim dividend of £860.00 (2023 - £762.00) per ordinary share

86,000

76,200

 

 

12

Related party transactions

Other transactions with directors

Included within other creditors (due within one year) is an amount of £6,500 (2023 £6,500) owed to the former directors Mr I and Mrs E Kernutt.

Included within other creditors (due after more one year) is an amount of £43,219 (2023 £49,719) owed to the former directors Mr I and Mrs E Kernutt

During the course of the year the former directors were repaid funds of £6,500 from the loan account.

The loan has been made to the company by the former directors on an interest free basis.