Greene Associates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02840504 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2018

for

Greene Associates Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G V Feakins

Mrs S B Feakins

SECRETARY:

G V Feakins

REGISTERED OFFICE:

Squirrels Leap

34 Hardy Avenue

Yateley

Hampshire

GU46 6XU

REGISTERED NUMBER:

02840504 (England and Wales)

ACCOUNTANTS:

Whiteleys

Chartered Certified Accountants

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

FIXED ASSETS

Tangible assets

5

136

459

CURRENT ASSETS

Debtors

6

38,585

39,502

Cash at bank and in hand

36,876

39,436

75,461

78,938

CREDITORS

Amounts falling due within one year

7

16,288

10,994

NET CURRENT ASSETS

59,173

67,944

TOTAL ASSETS LESS CURRENT LIABILITIES

59,309

68,403

PROVISIONS FOR LIABILITIES

26

-

NET ASSETS

59,283

68,403

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

59,280

68,400

SHAREHOLDERS' FUNDS

59,283

68,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31st May 2019 and were signed on its behalf by:

G V Feakins - Director

1.	STATUTORY INFORMATION

Greene Associates Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents

amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is

probable that future economic benefits will flow to the entity.

Tangible fixed assets

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment

losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over their estimated useful lives as follows:

Fixtures and fittings - 25% on reducing balance

Office equipment - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item

sold is recognised in profit or loss.

Taxation

Taxation for the yearcomprises current and deferred tax. Tax is recognised in the Income Statement,

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial

position when there is an enforceable right to set off the recognised amounts and there is an intention

to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property

and equipment, are reviewed to determine whether there is an indication that an asset may be

impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group

of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated

and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the

asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit

or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of

stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an

item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less

costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related

assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount

that would have been determined had no impairment loss been recognised for the asset or group of

related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or

loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1st January 2018

4,021

22,616

26,637

Disposals

(4,021

)

(21,566

)

(25,587

)

At 31st December 2018

-

1,050

1,050

DEPRECIATION

At 1st January 2018

4,001

22,177

26,178

Charge for year

-

44

44

Eliminated on disposal

(4,001

)

(21,307

)

(25,308

)

At 31st December 2018

-

914

914

NET BOOK VALUE

At 31st December 2018

-

136

136

At 31st December 2017

20

439

459

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

38,231

28,808

Other debtors

354

10,694

38,585

39,502

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

558

41

Taxation and social security

11,339

6,859

Other creditors

4,391

4,094

16,288

10,994