16
01/01/2024
31/12/2024
2024-12-31
false
false
false
false
true
false
false
false
false
false
true
false
false
true
false
false
false
false
true
true
false
2024-01-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
01569157
2024-01-01
2024-12-31
01569157
2024-12-31
01569157
2023-12-31
01569157
2023-01-01
2023-12-31
01569157
2023-12-31
01569157
2022-12-31
01569157
core:Subsidiary1
2024-01-01
2024-12-31
01569157
bus:RegisteredOffice
2024-01-01
2024-12-31
01569157
bus:LeadAgentIfApplicable
2024-01-01
2024-12-31
01569157
bus:Director3
2024-01-01
2024-12-31
01569157
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
01569157
core:PlantMachinery
2023-12-31
01569157
core:FurnitureFittingsToolsEquipment
2023-12-31
01569157
core:MotorVehicles
2023-12-31
01569157
core:LandBuildings
core:ShortLeaseholdAssets
2024-12-31
01569157
core:PlantMachinery
2024-12-31
01569157
core:FurnitureFittingsToolsEquipment
2024-12-31
01569157
core:WithinOneYear
2024-12-31
01569157
core:WithinOneYear
2023-12-31
01569157
core:AfterOneYear
2024-12-31
01569157
core:AfterOneYear
2023-12-31
01569157
core:RetainedEarningsAccumulatedLosses
2023-01-01
2023-12-31
01569157
core:RetainedEarningsAccumulatedLosses
2024-01-01
2024-12-31
01569157
core:LandBuildings
core:ShortLeaseholdAssets
2024-01-01
2024-12-31
01569157
core:PlantMachinery
2024-01-01
2024-12-31
01569157
core:FurnitureFittingsToolsEquipment
2024-01-01
2024-12-31
01569157
core:MotorVehicles
2024-01-01
2024-12-31
01569157
core:RetainedEarningsAccumulatedLosses
2024-12-31
01569157
core:RetainedEarningsAccumulatedLosses
2023-12-31
01569157
core:RetainedEarningsAccumulatedLosses
2022-12-31
01569157
1
2024-01-01
2024-12-31
01569157
1
2023-01-01
2023-12-31
01569157
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
01569157
core:Non-currentFinancialInstruments
2024-12-31
01569157
core:Non-currentFinancialInstruments
2023-12-31
01569157
core:PlantMachinery
2023-12-31
01569157
core:FurnitureFittingsToolsEquipment
2023-12-31
01569157
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
01569157
bus:SmallEntities
2024-01-01
2024-12-31
01569157
bus:Audited
2024-01-01
2024-12-31
01569157
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
01569157
bus:CompanyLimitedByGuarantee
2024-01-01
2024-12-31
01569157
bus:FullAccounts
2024-01-01
2024-12-31
01569157
core:LandBuildings
core:LongLeaseholdAssets
2024-01-01
2024-12-31
01569157
core:OtherCapitalReserve
2024-12-31
01569157
core:OtherCapitalReserve
2023-12-31
01569157
core:OtherCapitalReserve
2022-12-31
01569157
core:ComputerEquipment
2023-12-31
01569157
core:ComputerEquipment
2024-01-01
2024-12-31
01569157
core:ComputerEquipment
2024-12-31
01569157
core:AfterOneYear
2024-01-01
2024-12-31
Company registration number:
01569157
Greendale Carpets and Floorings Limited
Company limited by guarantee
Filleted financial statements
31 December 2024
Greendale Carpets and Floorings Limited
Company limited by guarantee
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Greendale Carpets and Floorings Limited
Company limited by guarantee
Directors and other information
|
|
|
|
Directors |
Mr Nicholas Norman Walters |
|
|
Mr Nicholas Warren Lang |
|
|
Mr Garry Dell |
|
|
Mr David Corbett Glenister |
|
|
Mr Eamonn Shaun Prescott |
|
|
Mrs Katie Sarah Courtney-Jones |
|
|
|
|
|
|
|
Company number |
01569157 |
|
|
|
|
|
|
|
Registered office |
Greendale House |
|
|
Whitestone Business Park |
|
|
Whitestone |
|
|
Herefordshire |
|
|
HR1 3SE |
|
|
|
|
|
|
|
Business address |
Greendale House |
|
|
Whitestone Business Park |
|
|
Whitestone |
|
|
Herefordshire |
|
|
HR1 3SE |
|
|
|
|
|
|
|
Auditor |
Forshaws Accountants Limited |
|
|
Crossens Way |
|
|
Southport |
|
|
PR9 9LY |
|
|
|
Greendale Carpets and Floorings Limited
Company limited by guarantee
Directors responsibilities statement
Year ended 31 December 2024
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Greendale Carpets and Floorings Limited
Company limited by guarantee
Statement of financial position
31 December 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
10 |
14,955 |
|
|
|
10,192 |
|
|
Investments |
|
11 |
100 |
|
|
|
100 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
15,055 |
|
|
|
10,292 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
12 |
223,787 |
|
|
|
333,272 |
|
|
Debtors |
|
13 |
545,480 |
|
|
|
535,535 |
|
|
Cash at bank and in hand |
|
|
152,978 |
|
|
|
126,570 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
922,245 |
|
|
|
995,377 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
14 |
(
496,030) |
|
|
|
(
524,200) |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
Net current assets |
|
|
|
|
426,215 |
|
|
|
471,177 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Total assets less current liabilities |
|
|
|
|
441,270 |
|
|
|
481,469 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
15 |
|
|
(
164,000) |
|
|
|
(
177,667) |
|
|
|
|
|
_________ |
|
|
|
_________ |
Net assets |
|
|
|
|
277,270 |
|
|
|
303,802 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Contingency reserve |
|
16 |
|
|
100,000 |
|
|
|
100,000 |
Profit and loss account |
|
16 |
|
|
177,270 |
|
|
|
203,802 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Members funds |
|
|
|
|
277,270 |
|
|
|
303,802 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 April 2025
, and are signed on behalf of the board by:
Mr Garry Dell
Director
Company registration number:
01569157
Greendale Carpets and Floorings Limited
Company limited by guarantee
Statement of changes in equity
Year ended 31 December 2024
|
|
|
Contingency reserve |
|
Profit and loss account |
Total |
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2023 |
|
|
100,000 |
|
240,659 |
340,659 |
|
|
|
|
|
|
|
|
|
|
|
Loss for the year |
|
|
|
|
(
38,297) |
(
38,297) |
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
Total comprehensive income for the year |
|
|
- |
|
(
38,297) |
(
38,297) |
|
|
|
|
|
|
|
|
|
|
|
Share of surplus introduced by new members |
|
|
- |
|
5,232 |
5,232 |
|
|
Share of surplus repayable to retiring members |
|
|
- |
|
(3,792) |
(3,792) |
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
Total investments by and distributions to owners |
|
|
- |
|
1,440 |
1,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
At 31 December 2023 and 1 January 2024 |
|
|
100,000 |
|
203,802 |
303,802 |
|
|
|
|
|
|
|
|
|
|
|
Loss for the year |
|
|
|
|
(
26,703) |
(
26,703) |
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
Total comprehensive income for the year |
|
|
- |
|
(
26,703) |
(
26,703) |
|
|
|
|
|
|
|
|
|
|
|
Share of surplus introduced by new members |
|
|
- |
|
7,796 |
7,796 |
|
|
Share of surplus repayable to retiring members |
|
|
- |
|
(7,625) |
(7,625) |
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
Total investments by and distributions to owners |
|
|
- |
|
171 |
171 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
At 31 December 2024 |
|
|
100,000 |
|
177,270 |
277,270 |
|
|
|
|
|
_________ |
|
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
|
Greendale Carpets and Floorings Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2024
1.
General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is Greendale House, Whitestone Business Park, Whitestone, Herefordshire, HR1 3SE.
The principal activity of the company is that of a carpet and flooring buying co-operative.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. Should the existing facilities not be sufficient to fund the company's working capital for the period ending 12 months from the date of approval of these financial statements, the directors have considered alternative sources of financing and understand that these funds would provide sufficient resources to meet any shortfall which may arise under agreed facilities.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Leasehold properties |
- |
Straight line over the life of the lease |
|
|
Plant and machinery |
- |
10-50% Straight line |
|
|
Fittings fixtures and equipment |
- |
10-50% Straight line |
|
|
Motor vehicles |
- |
25% Straight line |
|
|
Computer equipment |
- |
25-50% Straight line |
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition, taking into account the estimated effect of write-downs that may arise on measurement of rolls and the estimated effect of end of roll scrappage.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided
4.
Share of profit introduced and repaid
New members are required when joining the company to introduce an amount equivalent to an existing member's share of the accumulated surplus on the profit and loss account; retiring members are refunded an equivalent sum. These amounts are reflected in the profit and loss account as movements on reserves.
5.
Limited by guarantee
The company is limited by guarantee. In the event of the company having insufficient funds to meet its liabilities on liquidation, each member has guaranteed to contribute the sum of £1.
6.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
7.
Other operating income
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Subscriptions receivable |
|
106,842 |
108,919 |
|
Supplier rebates |
|
140,446 |
159,513 |
|
Other operating income |
|
3,181 |
2,267 |
|
|
|
_________ |
_________ |
|
|
|
250,469 |
270,699 |
|
|
|
_________ |
_________ |
|
|
|
|
|
Subscriptions receivable from the members are recognised in the period to which they relate.
Rebates received from suppliers are recognised in the period to which they relate. Rebates relating to the company's own purchases are reflected in the accounts within cost of sales and rebates relating to members' purchases are reflected in the accounts within other operating income.
8.
Auditors remuneration
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Fees payable to Forshaws Accountants Limited |
|
|
|
|
Fees payable for the audit of the financial statements |
|
7,500 |
7,500 |
|
|
|
_________ |
_________ |
|
|
|
|
|
9.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2023:
15
).
10.
Tangible assets
|
|
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Computer equipment |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2024 |
3,303 |
288,278 |
49,158 |
26,734 |
173,279 |
540,752 |
|
|
Additions |
- |
3,679 |
5,110 |
- |
1,630 |
10,419 |
|
|
Disposals |
(
1,888) |
- |
(
33,021) |
(
26,734) |
(
91,570) |
(
153,213) |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
At 31 December 2024 |
1,415 |
291,957 |
21,247 |
- |
83,339 |
397,958 |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2024 |
3,303 |
285,778 |
47,185 |
26,734 |
167,560 |
530,560 |
|
|
Charge for the year |
- |
819 |
1,306 |
- |
3,531 |
5,656 |
|
|
Disposals |
(
1,888) |
- |
(
33,021) |
(
26,734) |
(
91,570) |
(
153,213) |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
At 31 December 2024 |
1,415 |
286,597 |
15,470 |
- |
79,521 |
383,003 |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2024 |
- |
5,360 |
5,777 |
- |
3,818 |
14,955 |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
At 31 December 2023 |
- |
2,500 |
1,973 |
- |
5,719 |
10,192 |
|
|
|
_________ |
_________ |
_________ |
_________ |
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
11.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2024 and 31 December 2024 |
100 |
100 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 January 2024 and 31 December 2024 |
- |
- |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2024 |
100 |
100 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
At 31 December 2023 |
100 |
100 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in group undertakings |
|
|
|
|
|
|
|
|
|
|
|
Subsidiary undertakings |
|
Registered office |
Class of share |
Percentage of shares held |
|
|
|
|
|
|
|
Stockholding Solutions Limited |
|
Greendale House, Whitestone Business Park, Whitestone, Herefordshire, HR1 3SE |
Ordinary |
100 |
|
|
|
|
|
|
|
|
|
|
|
|
12.
Stocks
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Consumables |
|
5,087 |
4,951 |
|
Finished goods |
|
218,700 |
328,321 |
|
|
|
_________ |
_________ |
|
|
|
223,787 |
333,272 |
|
|
|
_________ |
_________ |
|
|
|
|
|
13.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
381,805 |
360,372 |
|
Prepayments and accrued income |
|
40,241 |
49,210 |
|
Other debtors |
|
123,434 |
125,953 |
|
|
|
_________ |
_________ |
|
|
|
545,480 |
535,535 |
|
|
|
_________ |
_________ |
|
|
|
|
|
14.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,000 |
|
Trade creditors |
|
292,206 |
339,792 |
|
Amounts owed to group undertakings |
|
5,588 |
6,738 |
|
Social security and other taxes |
|
69,985 |
69,452 |
|
Other creditors |
|
118,251 |
98,218 |
|
|
|
_ |
_ |
|
|
|
496,030 |
524,200 |
|
|
|
_ |
_ |
|
|
|
|
|
15.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
19,167 |
|
Other creditors |
|
154,000 |
158,500 |
|
|
|
_ |
_ |
|
|
|
164,000 |
177,667 |
|
|
|
_ |
_ |
|
|
|
|
|
Other creditors includes an amount of £154,000 (2022 £158,500) which represents interest free loans received from each member of the company in the amount of £2,000 per member and £500 per new member. These amounts are unsecured, interest free and are repayable to the members should they resign their membership of the company.
17.
Contingent assets and liabilities
The Company has a joint overdraft facility with Stockholding Solutions Limited, it's subsidiary. As at the balance sheet date, Stockholding Solutions has no bank borrowings. There has also been no use of the overdraft facility by either party between the balance sheet date and the date of the approval of these financial statements.
18.
Summary audit opinion
The auditor's report dated
23 April 2025
was unqualified.
The senior statutory auditor was
Andrew Goddard
for and on behalf of
Forshaws Accountants Limited
19.
Related party transactions
In line with the requirements of FRS 102, the Company has not disclosed transactions with companies that are wholly owned within the Group of companies headed by Greendale Carpets and Floorings Limited.
The Company paid rent of £70,000 (2023: £80,000) to a company under the common control of the Directors. The Company also charged management charges of £19,500 (2023: £12,500) to the same company. At the balance sheet date £12,000 (2023: £1,500) remained outstanding and this has been presented within prepayments and accrued income.
Throughout the year, the Company entered into a number of transactions with members whose Directors are also Directors of
Greendale Carpets and Floorings Limited
. All these transactions are deemed to be on an arm's length basis. The transactions were as follows:
Sales made
Balance outstanding
2024
2023
2024
2023
£
£
£
£
N.D. Walters Carpets Limited
50,036
43,856
2,436
52
David Glenister Beds & Flooring Limited
10,033
17,493
2,004
308
J & I Carpets Limited
73,934
59,351
2,592
6,512
_________
|
_________
|
_________
|
_________
|
20.
Controlling party
The company is not under the control of any single party.