Greenacres (Warlingham) Limited - Limited company accounts 18.2

REGISTERED NUMBER: 04883065

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

GREENACRES (WARLINGHAM) LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mrs J M Martin

Ms C Baker

SECRETARY:

Mrs J M Martin

REGISTERED OFFICE:

282 Limpsfield Road

Warlingham

Surrey

CR6 9RE

REGISTERED NUMBER:

04883065

ACCOUNTANTS:

Connor, Spencer

Chartered Accountants

5 Waterside

Station Road

Harpenden

Hertfordshire

AL5 4US

The directors present their report with the financial statements of the company for the year ended 30 September 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Sports and Social Club

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2018 to the date of

this report.

Mrs J M Martin

Ms C Baker

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:

Mrs J M Martin - Director

17 March 2020

TURNOVER

103,362

99,527

Cost of sales

70,768

73,549

GROSS PROFIT

32,594

25,978

Administrative expenses

32,520

28,897

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) BEFORE TAXATION

74

(2,919

)

Tax on profit/(loss)

-

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

74

(2,919

)

FIXED ASSETS

Tangible assets

4

691

864

CURRENT ASSETS

Stocks

980

650

Debtors

5

305

54

Cash in hand

2,525

115

3,810

819

CREDITORS

Amounts falling due within one year

6

62,560

59,816

NET CURRENT LIABILITIES

(58,750

)

(58,997

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(58,059

)

(58,133

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(58,060

)

(58,134

)

SHAREHOLDERS' FUNDS

(58,059

)

(58,133

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 17 March 2020 and were signed on its
behalf by:

Mrs J M Martin - Director

1.	STATUTORY INFORMATION

Greenacres (Warlingham) Limited is a private company, limited by shares , registered in Not

specified/Other. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises 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 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.

3.	OPERATING PROFIT/(LOSS)

The operating profit (2018 - operating loss) is stated after charging:

2019

2018

£

Depreciation - owned assets

173

216

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Equipment

fittings

Totals

£

COST

At 1 October 2018

and 30 September 2019

1,260

11,920

13,180

DEPRECIATION

At 1 October 2018

564

11,752

12,316

Charge for year

139

34

173

At 30 September 2019

703

11,786

12,489

NET BOOK VALUE

At 30 September 2019

557

134

691

At 30 September 2018

696

168

864

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Other debtors

305

54

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Bank loans and overdrafts

708

16

Trade creditors

-

6,000

Other creditors

61,852

53,800

62,560

59,816