|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GREENSPORT TRADING LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GREENSPORT TRADING LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
GREENSPORT TRADING LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
BALANCE SHEET |
31 DECEMBER 2016 |
|
2016 | 2015 |
as restated |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings |
|
41,986 |
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
BALANCE SHEET - continued |
31 DECEMBER 2016 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
|
The financial statements were approved for issue by the director on
|
|
|
|
|
|
|
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
1. | STATUTORY INFORMATION |
|
Greensport Trading Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest |
pound. |
|
The significant accounting policies applied in the presentation of these financial statements are set out below. These |
policies have been consistently applied to all years presented unless otherwise stated. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS |
102 Section 1A small entities. The date of transition is 1 January 2015. |
|
The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to |
those previously used, none of which have resulted in a change to the figures presented in the previous year's financial |
statements. |
|
Going concern |
At 31 December 2016 the company had net current liabilities of £113,854. The going concern basis is considered |
appropriate for the preparation of the financial statements due to the continued financial support of the company's director |
and parent company. |
|
Turnover |
Turnover represents amounts receivable in respect of goods and services provided during the year, excluding value added |
tax. |
|
Goodwill |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Freehold property | - |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
|
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for |
damaged, obsolete and slow moving stock where appropriate. |
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
2. | ACCOUNTING POLICIES - continued |
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 |
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. |
|
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. |
|
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. |
|
Deferred government grants |
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss |
account over the life of the assets to which they relate. |
|
Non-derivative financial instruments |
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents and trade and other |
creditors. |
|
Unless otherwise stated, the carrying value of the company's financial assets and liabilities are a reasonable approximation |
of their fair values. |
|
Debtors and creditors receivable / payable within one year |
|
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
|
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. |
|
|
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
|
AMORTISATION |
At 1 January 2016 |
|
Charge for year |
|
At 31 December 2016 |
|
NET BOOK VALUE |
At 31 December 2016 |
|
At 31 December 2015 |
|
|
5. | TANGIBLE FIXED ASSETS |
Freehold | Short | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 January 2016 |
|
|
|
Additions |
|
|
|
At 31 December 2016 |
|
|
|
DEPRECIATION |
At 1 January 2016 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
|
|
At 31 December 2016 |
|
|
|
NET BOOK VALUE |
At 31 December 2016 |
|
|
|
At 31 December 2015 |
|
|
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
5. | TANGIBLE FIXED ASSETS - continued |
|
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) | ( |
) |
At 31 December 2016 |
|
|
|
DEPRECIATION |
At 1 January 2016 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) |
At 31 December 2016 |
|
|
|
NET BOOK VALUE |
At 31 December 2016 |
|
|
|
At 31 December 2015 |
|
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
as restated |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts recoverable on contract |
|
|
Other debtors |
|
|
Directors' current accounts | - | 8,145 |
Called up share capital not paid |
|
|
Prepayments |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
as restated |
£ | £ |
Bank loans and overdrafts |
|
|
Other loans |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
VAT | 115,338 | 34,718 |
Other creditors |
|
|
Accrued expenses |
|
|
Deferred government grants |
|
|
|
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
as restated |
£ | £ |
Other loans |
|
|
Hire purchase contracts |
|
|
|
|
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2016 | 2015 |
as restated |
£ | £ |
Other loans |
|
|
Hire purchase contracts | 201,027 | 162,918 |
Other creditors | 173,499 | 253,892 |
|
|
|
The hire purchase liabilities are secured on the assets to which they relate. |
|
The other loans are secured on any property and assets held in the company. |
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | as restated |
£ | £ |
|
Ordinary | 1 | 100 | 100 |
|
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 December 2016 and |
31 December 2015: |
|
2016 | 2015 |
as restated |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) |
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
GREENSPORT TRADING LIMITED (REGISTERED NUMBER: 08317255) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
12. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
owned subsidiaries within the group. |
|
On 10 June 2016, 100 Ordinary shares held by Gareth Rees in Greensport Trading Limited were exchanged for 100 |
Ordinary shares in Inscapes Sports Limited |
|
13. | PARENT COMPANY |
|
From 10 June 2016, the parent company of Greensport Trading Limited was Inscapes Sports Limited. |