Greenstik Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04104521 (England and Wales)

Greenstik Limited

Unaudited Financial Statements for the Year Ended 30th June 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G T Dunn

S C Cliffe

B E Gregory

SECRETARY:

G T Dunn

REGISTERED OFFICE:

Unit 9

Lancaster Road

Carnaby Industrial Estate

Bridlington

East Yorkshire

YO15 3QY

REGISTERED NUMBER:

04104521 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

35,576

31,463

CURRENT ASSETS

Stocks

317,165

324,062

Debtors

5

2,148,255

1,947,046

Cash at bank and in hand

353,934

64,792

2,819,354

2,335,900

CREDITORS

Amounts falling due within one year

6

1,349,775

1,153,752

NET CURRENT ASSETS

1,469,579

1,182,148

TOTAL ASSETS LESS CURRENT LIABILITIES

1,505,155

1,213,611

CREDITORS

Amounts falling due after more than one year

7

(119,196

)

-

PROVISIONS FOR LIABILITIES

(6,475

)

(5,154

)

NET ASSETS

1,379,484

1,208,457

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,379,384

1,208,357

SHAREHOLDERS' FUNDS

1,379,484

1,208,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2018 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 20th November 2018 and were signed on its behalf by:

G T Dunn - Director

1.	STATUTORY INFORMATION

Greenstik 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the

goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable

that the economic benefits associated with the transaction will flow to the company and the costs

incurred or to be incurred in respect of the transaction can be measured reliably.

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

-

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 Profit and loss

account, 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 15 (2017 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st July 2017

219,608

Additions

13,170

Disposals

(5,200

)

At 30th June 2018

227,578

DEPRECIATION

At 1st July 2017

188,145

Charge for year

8,054

Eliminated on disposal

(4,197

)

At 30th June 2018

192,002

NET BOOK VALUE

At 30th June 2018

35,576

At 30th June 2017

31,463

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

553,223

557,559

Other debtors

267,284

62,159

820,507

619,718

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,327,748

1,327,328

Aggregate amounts

2,148,255

1,947,046

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

428,745

446,925

Payments on account

8,017

4,947

Trade creditors

491,438

500,529

Taxation and social security

118,596

85,818

Other creditors

302,979

115,533

1,349,775

1,153,752

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

119,196

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

24,853

72,000

Between one and five years

-

24,000

24,853

96,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2018 and

30th June 2017:

2018

2017

£

£

S C Cliffe

Balance outstanding at start of year

-

-

Amounts advanced

132,750

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

132,750

-

G T Dunn

Balance outstanding at start of year

-

-

Amounts advanced

132,950

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

132,950

-

Loans made by the company to the directors arose from a provision made on 30th June 2018.