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Registered number: 05055089
Greenhouse PR Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Sapphire8 Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05055089
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 443,302 514,986
443,302 514,986
CURRENT ASSETS
Debtors 5 1,500,897 1,130,209
Cash at bank and in hand 2,677,203 1,871,880
4,178,100 3,002,089
Creditors: Amounts Falling Due Within One Year 6 (1,523,992 ) (967,051 )
NET CURRENT ASSETS (LIABILITIES) 2,654,108 2,035,038
TOTAL ASSETS LESS CURRENT LIABILITIES 3,097,410 2,550,024
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,918 ) (24,252 )
NET ASSETS 3,079,492 2,525,772
CAPITAL AND RESERVES
Called up share capital 7 2 2
Share premium account 90,000 90,000
Profit and Loss Account 2,989,490 2,435,770
SHAREHOLDERS' FUNDS 3,079,492 2,525,772
Page 1
Page 2
For the year ending 29 February 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Anna Guyer
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The company is a private company, limited by share capital, incorporated in England & Wales, registered number 05055089
The address of the registered office is 3rd Floor, Unit 32 St Thomas Court, Thomas Lane, Bristol, BS1 6JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The principal accounting policies applied in the preparation of these financial statements are set out below and have been consistently applied to all the years presented, unless otherwise stated.
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).
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.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, other sales taxes, rebates and discounts.
When providing services turnover is usually recognised on completion of the service and for monthly engagements it is recognised by reference to stage of completion at the Balance Sheet date.
2.3. Tangible Fixed Assets and Depreciation
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 is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Leasehold Improvements Over the term of the lease
Long Leasehold 2% on cost
Plant & Machinery 33% straight line
Fixtures & Fittings 33% straight line
Computer Equipment 33% straight line
2.4. Foreign Currencies
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 sterling at the rates prevailing on the reporting period date.
2.5. Taxation
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 income 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.
2.6. Pensions
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.The company contributes to a defined contribution pension scheme.Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate.
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2.7. 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.
2.8. Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
2.9. Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 57 (2023: 56)
57 56
4. Tangible Assets
Land & Property
Long Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 620,244 18,778 189,240 102,457 930,719
Additions 19,262 - - 21,761 41,023
Disposals - - (1,155 ) (2,415 ) (3,570 )
As at 29 February 2024 639,506 18,778 188,085 121,803 968,172
Depreciation
As at 1 March 2023 175,707 18,777 153,964 67,285 415,733
Provided during the period 69,031 - 19,327 22,738 111,096
Disposals - - (1,154 ) (805 ) (1,959 )
As at 29 February 2024 244,738 18,777 172,137 89,218 524,870
Net Book Value
As at 29 February 2024 394,768 1 15,948 32,585 443,302
As at 1 March 2023 444,537 1 35,276 35,172 514,986
Included within the net book value of land and buildings above is £287,316 (2023 - £293,698 in respect of long leasehold land and buildings.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,219,885 992,524
Other debtors 281,012 137,685
1,500,897 1,130,209
Trade debtors are amounts due from customers for services performed in the ordinary course of business.Trade debtors are recognised initially at the transaction price.They are subsequently measured at transaction price 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.
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 232,022 122,285
Other creditors 743,684 430,537
Taxation and social security 548,286 414,229
1,523,992 967,051
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.Trade creditors are recognised initially at the transaction price.These creditors 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.
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Related Party Transactions
At the Balance Sheet date the company owed Mrs A Guyer £174 (2023 £974)
At the Balance Sheet date the company was owed £4,748 by Greenhouse Communications Holdings Limited, a company which owns 61.22% of the share capital of Greenhouse PR Ltd (2023 £1,332 and 63.83% share holding)
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