Registered number
03723840
The Green Team (Grounds Maintenance Contractors) Limited
Filleted Accounts
30 April 2024
The Green Team (Grounds Maintenance Contractors) Limited
Registered number: 03723840
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 317,782 271,388
Current assets
Stocks - 2,260
Debtors 4 227,769 281,620
227,769 283,880
Creditors: amounts falling due within one year 5 (220,078) (259,892)
Net current assets 7,691 23,988
Total assets less current liabilities 325,473 295,376
Creditors: amounts falling due after more than one year 6 (85,143) (53,406)
Provisions for liabilities (51,563) (51,563)
Net assets 188,767 190,407
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 187,767 189,407
Shareholders' funds 188,767 190,407
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Thomas
Director
Approved by the board on 4 April 2025
The Green Team (Grounds Maintenance Contractors) Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor Vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 29
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 389,128 288,690 677,818
Additions 12,310 155,417 167,727
Disposals - (68,555) (68,555)
At 30 April 2024 401,438 375,552 776,990
Depreciation
At 1 May 2023 234,182 172,248 406,430
Charge for the year 41,814 64,112 105,926
On disposals - (53,148) (53,148)
At 30 April 2024 275,996 183,212 459,208
Net book value
At 30 April 2024 125,442 192,340 317,782
At 30 April 2023 154,946 116,442 271,388
4 Debtors 2024 2023
£ £
Trade debtors 177,039 191,273
Other debtors 50,730 90,347
227,769 281,620
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 35,480 54,037
Obligations under finance lease and hire purchase contracts 71,012 60,209
Trade creditors 41,819 49,069
Amounts due to directors 6,029 -
Taxation and social security costs 14,090 26,394
Other creditors 51,648 70,183
220,078 259,892
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 22,500
Obligations under finance lease and hire purchase contracts 85,143 30,906
85,143 53,406
7 Other information
The Green Team (Grounds Maintenance Contractors) Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Croydon Road
Caterham
CR3 6QB
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