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Unaudited Financial Statements for the Year Ended 30 June 2018 |
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Greenbest Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2018 |
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for |
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Greenbest Ltd |
Greenbest Ltd (Registered number: 03626337) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Greenbest Ltd |
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Company Information |
for the Year Ended 30 June 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Ashley House |
Unit 3, Brickfields Business Park |
Gillingham |
Dorset |
SP8 4PX |
Greenbest Ltd (Registered number: 03626337) |
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Balance Sheet |
30 June 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
Greenbest Ltd (Registered number: 03626337) |
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Balance Sheet - continued |
30 June 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2018 |
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1. | STATUTORY INFORMATION |
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Greenbest Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Greenbest Ltd as an individual company and do not contain |
consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of |
the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Reclassification/transfer |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Reclassification/transfer |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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Cost or valuation at 30 June 2018 is represented by: |
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Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
Valuation in 2017 | 79,883 | - | - |
Cost | 207,722 | 111,818 | 444,452 |
287,605 | 111,818 | 444,452 |
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Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
Valuation in 2017 | - | - | 79,883 |
Cost | 68,969 | 39,133 | 872,094 |
68,969 | 39,133 | 951,977 |
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If freehold property had not been revalued they would have been included at the following historical cost: |
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2018 | 2017 |
£ | £ |
Cost | 207,722 | 207,722 |
Aggregate depreciation | 34,998 | 30,844 |
Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Freehold property was independently valued on 24 April 2017 at £285,000 and this value was used as deemed |
cost at transition to FRS 102. |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2017 |
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Transfer to ownership | (13,385 | ) | (11,392 | ) | (24,777 | ) |
At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Transfer to ownership | (8,679 | ) | (6,247 | ) | (14,926 | ) |
At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2017 |
and 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Unit 2, The Marsh, Henstridge, Templecombe, Somerset, BA8 0TF |
Nature of business:
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Class of shares: | holding |
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2018 | 2017 |
£ | £ |
Aggregate capital and reserves |
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Profit for the year/period |
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Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 9) |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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Greenbest Ltd (Registered number: 03626337) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 9,659 | 26,950 |
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11. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 July 2017 |
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91,292 |
Profit for the year |
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Dividends | ( |
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Reserve transfer | 585 | (585 | ) | - |
At 30 June 2018 |
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295,206 |
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12. | CONTINGENT LIABILITIES |
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A guarantee exists in favour of Santander UK Plc in respect of the company and it's wholly owned subsidiary. |