Greenheart Carpentry Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08247053 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

GREENHEART CARPENTRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Smith

Mrs C Smith

REGISTERED OFFICE:

13 - 14 Gelliwastad Road

Pontypridd

CF38 2BW

REGISTERED NUMBER:

08247053 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Property, plant and equipment

4

20,815

26,429

CURRENT ASSETS

Inventories

2,950

3,733

Debtors

5

394,375

449,495

Cash at bank and in hand

657,901

170,410

1,055,226

623,638

CREDITORS

Amounts falling due within one year

6

307,816

222,401

NET CURRENT ASSETS

747,410

401,237

TOTAL ASSETS LESS CURRENT LIABILITIES

768,225

427,666

PROVISIONS FOR LIABILITIES

4,156

5,285

NET ASSETS

764,069

422,381

CAPITAL AND RESERVES

Called up share capital

7

130

130

Retained earnings

763,939

422,251

SHAREHOLDERS' FUNDS

764,069

422,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 10 May 2018 and were signed on its behalf by:

Mrs C Smith - Director

Mr A Smith - Director

1.	STATUTORY INFORMATION

Greenheart Carpentry 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going

concern have been identified by the directors.

Therefore the financial statements have been prepared on a going concern basis.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 October 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 November 2015.

Turnover

Revenue 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 & Machinery - 33% reducing balance

Fixtures & Fittings - 33% reducing balance and 25% on cost

Motor Vehicles - 25% reducing balance

Stocks

Inventories 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 4 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 November 2016

30,556

Additions

1,523

At 31 October 2017

32,079

DEPRECIATION

At 1 November 2016

4,127

Charge for year

7,137

At 31 October 2017

11,264

NET BOOK VALUE

At 31 October 2017

20,815

At 31 October 2016

26,429

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/17

31/10/16

£

£

Trade debtors

202,833

302,598

Amounts recoverable on contract

167,670

115,226

Other debtors

23,872

31,671

394,375

449,495

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/17

31/10/16

£

£

Trade creditors

84,991

69,368

Taxation and social security

113,382

97,353

Other creditors

109,443

55,680

307,816

222,401

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/17

31/10/16

value:

£

£

100

Ordinary

£100

100

100

10

Ordinary A

£10

10

10

10

Ordinary B

£10

10

10

10

Ordinary C

£10

10

10

130

130

8.	RELATED PARTY DISCLOSURES

Included in other debtors is an amount due from the director of £13,609 (2016 - £28,987 )

9.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 October 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities.

Upon regenerating the year end figures for 2016 under FRS 102 Section 1A, there were no transitional effects to

show.

There are no adjustments in the Reconciliation of Equity and Reconciliation of Profit or Loss reports.