Accounts filed on 30-06-2015
Accounts filed on 30-06-2015
trueGreen Recycling Group Limited020425222015-06-30-254520-161113-253920-1605135905901010-253920-1605133510643757073414-218814-43342-393842-26212810259718810246321296188966204256188771170419175028218786175028218786Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Going concern
The directors have considered going concern and feel that that this is an appropriate basis on which to prepare these accounts. They have indicated that they will continue to ensure that the company will meet its obligations as they fall due.
Land & Buildingsstraight line0.0500Plant & Machineryreducing balance0.2000Fixtures & Fittingsreducing balance0.2500Motor Vehiclesreducing balance0.2500Office Equipmentreducing balance0.250052300052300034797230421443758On 30 September 2013 the company sold the majority of its assets and trade, including the trading name. 52300052300034797230421443758
On 30 September 2013 the company sold the majority of its assets and trade, including the trading name.
073414Ordinary3001300300Ordinary A1001100100Ordinary B1001100100Ordinary C1001100100Ordinary1300300300Ordinary A1909090Ordinary B1100100100Ordinary C1100100100
Included in creditors is a balance of £576157 (2014:£367364) owed to director, Mr J T Green, on his loan account.
These balances are interest free and repayable on demand.2016-03-31Mr J T Greentruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGreen Recycling Group Limited2014-07-012015-06-30Green Recycling Group Limited2013-07-012014-06-30Green Recycling Group Limited2013-06-30Green Recycling Group Limited2014-06-30Green Recycling Group Limited2014-06-30Green Recycling Group Limited2015-06-30 2016-03-31
