Greenstik Materials Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08154166 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

GREENSTIK MATERIALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G T Dunn

S C Cliffe

B E Gregory

REGISTERED OFFICE:

Unit 9

Lancaster Road

Carnaby Industrial Estate

Bridington

East Yorkshire

YO15 3QY

REGISTERED NUMBER:

08154166 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Intangible assets

4

8,379

-

Tangible assets

5

97,491

117,823

105,870

117,823

CURRENT ASSETS

Stocks

643,243

469,978

Debtors

6

64,602

346,669

Cash at bank and in hand

59,034

34,275

766,879

850,922

CREDITORS

Amounts falling due within one year

7

297,611

381,395

NET CURRENT ASSETS

469,268

469,527

TOTAL ASSETS LESS CURRENT LIABILITIES

575,138

587,350

CREDITORS

Amounts falling due after more than one year

8

(34,167

)

(44,167

)

PROVISIONS FOR LIABILITIES

(18,523

)

(22,387

)

NET ASSETS

522,448

520,796

CAPITAL AND RESERVES

Called up share capital

10

90

2

Other reserves

11

920

-

Retained earnings

11

521,438

520,794

SHAREHOLDERS' FUNDS

522,448

520,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 20 October 2022 and were signed on its behalf by:

G T Dunn - Director

1.	STATUTORY INFORMATION

Greenstik Materials Limited 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.

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.

Intangible assets

Website developments costs incurred in 2022 are being written off over 5 years, being the estimated useful life of the asset.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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.

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 17 (2021 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Website

development

costs

£

COST

Additions

10,474

At 30 June 2022

10,474

AMORTISATION

Amortisation for year

2,095

At 30 June 2022

2,095

NET BOOK VALUE

At 30 June 2022

8,379

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2021

203,092

Additions

12,255

Disposals

(286

)

At 30 June 2022

215,061

DEPRECIATION

At 1 July 2021

85,269

Charge for year

32,499

Eliminated on disposal

(198

)

At 30 June 2022

117,570

NET BOOK VALUE

At 30 June 2022

97,491

At 30 June 2021

117,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

60,565

79,585

Other debtors

4,037

267,084

64,602

346,669

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

10,000

5,833

Trade creditors

119,652

203,032

Taxation and social security

43,195

139,514

Other creditors

124,764

33,016

297,611

381,395

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans

34,167

44,167

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

4,167

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Other loans

-

23,333

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.22

30.6.21

value:

£

£

90

Ordinary

£1

90

2

88 Ordinary shares of £1 each were allotted as fully paid as a bonus issue out of reserves during the year.

11.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 July 2021

520,794

-

520,794

Profit for the year

1,652

1,652

Bonus share issue

(88

)

-

(88

)

Share option reserve transfer

(920

)

920

-

At 30 June 2022

521,438

920

522,358

12.	RELATED PARTY DISCLOSURES

During the year the company received loans from Greenstik Limited, a company under common control with the company. As at 30 June 2022 the aggregate outstanding balance on these loans was £94,500 which is included within creditors (2021:- £263,047 which is included within debtors).

13.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by two of the directors, G T Dunn and S C Cliffe.