Greentraveller Limited - Period Ending 2017-08-31

Registration number: 06997760

Greentraveller Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 August 2017

Stewart & Co
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

Greentraveller Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Financial Position	3
Notes to the Financial Statements	4 to 7

Greentraveller Limited

Company Information

Directors

Mr R G E Hammond Dr A J Phillipps Dr M C Witt

Registered office

7-9 North Parade Buildings Bath BA1 1NS

Accountants

Stewart & Co Chartered Accountants Knoll House Knoll Road Camberley Surrey GU15 3SY

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Greentraveller Limited
for the Year Ended 31 August 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Greentraveller Limited for the year ended 31 August 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Greentraveller Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Greentraveller Limited and state those matters that we have agreed to state to the Board of Directors of Greentraveller Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greentraveller Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Greentraveller Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Greentraveller Limited. You consider that Greentraveller Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Greentraveller Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Stewart & Co
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

22 May 2018

Page 2

Greentraveller Limited

(Registration number: 06997760)
Statement of Financial Position as at 31 August 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	3,646	4,304
Current assets
Debtors	5	18,883	9,683
Cash at bank and in hand		29,719	15,757
		48,602	25,440
Creditors: Amounts falling due within one year	6	(9,382)	(14,794)
Net current assets		39,220	10,646
Net assets		42,866	14,950
Capital and reserves
Called up share capital		113	113
Share premium reserve		64,967	64,967
Profit and loss account		(22,214)	(50,130)
Total equity		42,866	14,950

For the financial year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 22 May 2018 and signed on its behalf by:
 

.........................................

Mr R G E Hammond

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Greentraveller Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 North Parade Buildings
Bath
BA1 1NS
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepares in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance

Page 4

Greentraveller Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 5

Greentraveller Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2016 - 5).

Page 6

Greentraveller Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 September 2016	10,647	10,647
Additions	587	587
At 31 August 2017	11,234	11,234
Depreciation
At 1 September 2016	6,343	6,343
Charge for the year	1,245	1,245
At 31 August 2017	7,588	7,588
Carrying amount
At 31 August 2017	3,646	3,646
At 31 August 2016	4,304	4,304

5

Debtors

	2017 £	2016 £
Trade debtors	16,386	7,851
Prepayments	1,068	1,182
Other debtors	1,429	650
	18,883	9,683

6

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Trade creditors	6,058	8,914
Taxation and social security	2,379	4,498
Other creditors	945	1,382
	9,382	14,794

Page 7