SC372143 false contracting and property development 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/2025-03-31 http://www.companieshouse.gov.uk/pt:ShareCapital 2025-03-31 http://www.companieshouse.gov.uk/cd:Director1 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/pt:ShareCapital 2026-03-31 http://www.companieshouse.gov.uk/cd:Director2 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/cd:Director3 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/cd:OrdinaryShareClass1 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/cd:RegisteredOffice 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2026-03-31 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2025-03-31 http://www.companieshouse.gov.uk/2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/2025-03-31 http://www.companieshouse.gov.uk/cd:FRS102 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/2026-03-31 http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 http://www.companieshouse.gov.uk/cd:FilletedAccounts 2025-04-01 2026-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC372143
Greenheart Contracts Ltd
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Greenheart Contracts Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
DIRECTORS
Harry McGurnaghan
Joseph McGurnaghan
Eileen McGurnaghan
REGISTERED OFFICE
Unit G6 The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC372143
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Greenheart Contracts Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
CONTENTS |  |
|  | Page
Directors' Report |  | -
Accountants' Report |  | -
Statement Of Comprehensive Income |  | -
Balance Sheet |  | 3
Notes To The Accounts |  | 4
The following do not form part of the statutory financial statements: |  |
Trading And Profit And Loss Account |  | -
Profit And Loss Account Summaries |  | -

Greenheart Contracts Ltd

BALANCE SHEET AT 31 March 2026
|  |  |  |  |  | 2026 |  |  |  | 2025
|  | Notes |  |  |  | £ |  |  |  | £
FIXED ASSETS |  |  |  |  |  |  |  |  |  |
Tangible assets |  | 3 |  |  |  | 46,645 |  |  |  | 62,207
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |
Stock |  |  |  | 1,000 |  |  |  | 5,000 |  |
Debtors |  | 4 |  | 439,508 |  |  |  | 477,702 |  |
Cash at bank and in hand |  |  |  | 10,628 |  |  |  | 2,076 |  |
|  |  |  | 451,136 |  |  |  | 484,778 |  |
CREDITORS: Amounts falling due within one year |  | 5 |  | 5,039 |  |  |  | 14,709 |  |
NET CURRENT ASSETS |  |  |  |  |  | 446,097 |  |  |  | 470,069
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  |  |  |  | 492,742 |  |  |  | 532,276
CREDITORS: Amounts falling due after more than one year |  | 6 |  |  |  | - |  |  |  | 10,000
PROVISIONS FOR LIABILITIES AND CHARGES |  |  |  |  |  | 7,677 |  |  |  | 14,786
NET ASSETS |  |  |  |  |  | 485,065 |  |  |  | 507,490
CAPITAL AND RESERVES |  |  |  |  |  |  |  |  |  |
Called up share capital |  | 7 |  |  |  | 2 |  |  |  | 2
Profit and loss account |  |  |  |  |  | 485,063 |  |  |  | 507,488
SHAREHOLDERS' FUNDS |  |  |  |  |  | 485,065 |  |  |  | 507,490
For the year ending 31 March 2026 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 21 August 2026 and signed on their behalf by |  |  |  |  |  |  |  |  |  |
............................. |  |  |  |  |  |  |  |  |  |
Harry McGurnaghan |  |  |  |  |  |  |  |  |  |
Director |  |  |  |  |  |  |  |  |  |

Greenheart Contracts Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2026

1. ACCOUNTING POLICIES

1a. General Information And Basis Of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.

1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.

1c. Tangible Fixed Assets |  |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Equipment |  | straight line 20%
Motor Cars |  | reducing balance 25%

1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Greenheart Contracts Ltd

1f. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

1h. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1i. Leases and hire purchase agreements
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets acquired under hire purchase contracts and finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.

Greenheart Contracts Ltd

1j. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, 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 where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. EMPLOYEES |  |  |  |  |  |
|  |  |  | 2026 |  | 2025
|  |  |  | No. |  | No.
Average number of employees including directors |  |  |  | 3 |  | 3

3. TANGIBLE FIXED ASSETS |  |  |  |
|  | Plant and |  |
|  | Machinery Etc. |  | Total
|  | £ |  | £
Cost |  |  |  |
At 1 April 2025 |  | 127,308 |  | 127,308
Additions |  | 233 |  | 233
At 31 March 2026 |  | 127,541 |  | 127,541
Depreciation |  |  |  |
At 1 April 2025 |  | 65,101 |  | 65,101
For the year |  | 15,795 |  | 15,795
At 31 March 2026 |  | 80,896 |  | 80,896
Net Book Amounts |  |  |  |
At 31 March 2026 |  | 46,645 |  | 46,645
At 31 March 2025 |  | 62,207 |  | 62,207

4. DEBTORS |  |  |  | 2026 |  | 2025
|  |  |  | £ |  | £
Amounts falling due within one year: |  |  |  |  |  |
Trade debtors |  |  |  | 1,580 |  | 84,867
VAT |  |  |  | 850 |  | 2,159
Other Tax |  |  |  | - |  | 32,897
Other debtors |  |  |  | 437,078 |  | 357,779
|  |  |  | 439,508 |  | 477,702

Greenheart Contracts Ltd

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |  |  |  |  |  |
|  |  |  | 2026 |  | 2025
|  |  |  | £ |  | £
Bank loans and overdrafts |  |  |  | - |  | 10,000
Taxation and social security |  |  |  | 1,857 |  | 1,672
Other creditors |  |  |  | 3,182 |  | 3,037
|  |  |  | 5,039 |  | 14,709

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |  |  |  |  |  |
|  |  |  | 2026 |  | 2025
|  |  |  | £ |  | £
Bank loans and overdrafts |  |  |  | - |  | 10,000
|  |  |  | - |  | 10,000

7. SHARE CAPITAL |  |  |  | 2026 |  | 2025
|  |  |  | £ |  | £
Allotted, issued and fully paid: |  |  |  |  |  |
2 Class 1 shares of £1 each |  |  |  | 2 |  | 2
|  |  |  | 2 |  | 2

8. RELATED PARTY TRANSACTIONS
Included in other debtors is an interest free loan to Greenheart Homes Ltd, a company in which Harry McGurnaghan and Joseph McGurnaghan are shareholders, of £435,660 (2025 - £355,660).
Included at the year end is an interest free loan from the directors of £773 (2025 - £389)