Greenarc Fuel Cards Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08992973 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

GREENARC FUEL CARDS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Bingham

D G Holmes

R S Wallace

Ms D S Newman

B L Duckworth

J Cosway

M Crockett

J P Sharp

REGISTERED OFFICE:

The Craggs Country Business Park

New Road

Cragg Vale

Hebden Bridge

West Yorkshire

HX7 5TT

REGISTERED NUMBER:

08992973 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Tangible assets

4

10,863

-

CURRENT ASSETS

Stocks

479,157

112,838

Debtors

5

1,042,987

425,726

Cash at bank

270,640

92,954

1,792,784

631,518

CREDITORS

Amounts falling due within one year

6

1,616,422

487,598

NET CURRENT ASSETS

176,362

143,920

TOTAL ASSETS LESS CURRENT LIABILITIES

187,225

143,920

CREDITORS

Amounts falling due after more than one year

7

(36,364

)

(47,273

)

PROVISIONS FOR LIABILITIES

(2,064

)

-

NET ASSETS

148,797

96,647

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

148,697

96,547

148,797

96,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 19 October 2022 and were signed on its behalf by:

C Bingham - Director

1.	STATUTORY INFORMATION

Greenarc Fuel Cards 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.	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.

Plant and machinery etc

-

33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

12,354

At 31 March 2022

12,354

DEPRECIATION

Charge for year

1,491

At 31 March 2022

1,491

NET BOOK VALUE

At 31 March 2022

10,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

895,534

316,392

Other debtors

147,453

109,334

1,042,987

425,726

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,489,645

458,201

Taxation and social security

38,275

15,488

Other creditors

88,502

13,909

1,616,422

487,598

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

36,364

47,273

8.	SECURED DEBTS

The companies bankers Barclays Bank PLC have a fixed and floating charge over the assets of the company.

9.	RELATED PARTY DISCLOSURES

During the year sales of £141,403 (2021: £103,809) and purchases of £7,444,550 (2021: £4,143,731) were made with Craggs Energy Limited, a company with common Directors.

During the period costs were recharged to Greenarc Fuel Cards Limited of £114,596 from Craggs Energy Limited, a company with common Directors.

The amounts (owed to)/due from related parties under common control at the year end are as follows;

31.03.22

31.03.21

£

£

Greenarc Limited

Nil

450

Craggs Energy Limited

(19,175

)

56,073

LCM Environmental Services Limited

Nil

300

(19,175

)

56,823