REGISTERED NUMBER: 14447921 (England and Wales) |
REPORT OF THE DIRECTOR AND |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
GREENSIDE SERVICES LIMITED |
REGISTERED NUMBER: 14447921 (England and Wales) |
REPORT OF THE DIRECTOR AND |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
GREENSIDE SERVICES LIMITED |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Consolidated Profit and Loss Account | 3 |
Consolidated Balance Sheet | 4 |
Company Balance Sheet | 5 |
Notes to the Consolidated Financial Statements | 6 |
GREENSIDE SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31 JULY 2024 |
The director presents his report with the financial statements of the company and the group for the year ended 31 July 2024. |
DIRECTORS |
The directors who have held office during the period from 1 August 2023 to the date of this report are as follows: |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
CONSOLIDATED |
PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 JULY 2024 |
Period |
27.10.22 |
Year Ended | to |
31.7.24 | 31.7.23 |
Notes | £ | £ |
TURNOVER | 954,477 | - |
Cost of sales | (184,870 | ) | - |
GROSS PROFIT | 769,607 | - |
Administrative expenses | (545,114 | ) | - |
OPERATING PROFIT | 5 | 224,493 | - |
Interest receivable and similar income | 168 | - |
PROFIT BEFORE TAXATION | 224,661 | - |
Tax on profit | (56,029 | ) | - |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 168,632 | - |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
CONSOLIDATED BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 | 5,213 | - |
Investments | 8 | - | - |
5,213 | - |
CURRENT ASSETS |
Debtors | 9 | 366,094 | 100 |
Cash at bank | 3,688 | - |
369,782 | 100 |
CREDITORS |
Amounts falling due within one year | 10 | (206,263 | ) | - |
NET CURRENT ASSETS | 163,519 | 100 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
168,732 |
100 |
CAPITAL AND RESERVES |
Called up share capital | 100 | 100 |
Retained earnings | 168,632 | - |
168,732 | 100 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 19 February 2025 and were signed by: |
Mr Zee Lichtenstein - Director |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
COMPANY BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Company's profit for the financial year | - | - |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Greenside Services Limited is a |
2. | STATEMENT OF COMPLIANCE |
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. |
3. | ACCOUNTING POLICIES |
Basis of preparation |
The financial statements have been prepared on the historical cost basis. |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
Disclosure exemptions |
No cash flow statement has been presented for the company. |
Basis of consolidation |
The consolidated financial statements incorporate the financial statements of the company and its subsidiary undertaking. These are adjusted, where appropriate, to conform to group accounting policies. The results of companies acquired or disposed of are included in the profit and loss account after or up to the date that control passes respectively. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006. |
Judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
The director does not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
Depreciation |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life |
Office equipment - 33% reducing balance |
Computer equipment - 33% reducing balance |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities. |
Basic financial instruments |
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition, trade and other debtors that are classified as receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment. If the arrangement constitutes a financial transaction, for example, if payment is deferred beyond normal business terms, then they are measured at the present value of the future payments discounted at a market rate for a similar debt instrument. |
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition trade and other creditors that are classified as payable within one year are measured at the undiscounted amount of the cash or the other consideration expected to be paid. If the arrangement consitutes amount of the cash or other consideration expected to be paid. If the arrangement constitutes a financial transaction, for example, if payment is deferred beyond normal business terms, then they are measured at the present value of the future payments discounted at a market rate for a similar debt instrument. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, 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 |
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
Investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees by undertakings that were proportionately consolidated during the year was 13 (2023 - NIL ) . |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
Period |
27.10.22 |
Year Ended | to |
31.7.24 | 31.7.23 |
£ | £ |
Depreciation - owned assets | 2,607 | - |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
7. | TANGIBLE FIXED ASSETS |
Group |
Computer | Office |
equipment | equipment | Totals |
£ | £ | £ |
COST |
Additions | 1,059 | 6,761 | 7,820 |
At 31 July 2024 | 1,059 | 6,761 | 7,820 |
DEPRECIATION |
Charge for year | 353 | 2,254 | 2,607 |
At 31 July 2024 | 353 | 2,254 | 2,607 |
NET BOOK VALUE |
At 31 July 2024 | 706 | 4,507 | 5,213 |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
8. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertaking |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
The company acquired the whole of the issued share capital of Lockwood Fulfilment Ltd, a company registered in England and Wales, on 1 August 2023. |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade debtors | 319,140 | - |
Other debtors | 46,954 | 100 |
366,094 | 100 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Bank loans and overdrafts | 1,703 | - |
Trade creditors | 16,734 | - |
Taxation and social security | 56,029 | - |
Other creditors | 131,797 | - |
206,263 | - |
11. | RELATED PARTY DISCLOSURES |
Other debtors include £8,144 due from a company with a common director. Other creditors include amounts aggregating £99,900 due to a company with a director in common with this company. |
Other than the amounts disclosed above, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102. |
GREENSIDE SERVICES LIMITED (REGISTERED NUMBER: 14447921) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
12. | OPERATING LEASE COMMITMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year | 120,000 |
Between two and five years | 120,000 |
240,000 |