Greener Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04920724 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Greener Transport Limited

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

9

DIRECTOR:

Mr J P Greener

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

04920724 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

404,052

513,306

404,052

513,306

CURRENT ASSETS

Stocks

18,150

17,500

Debtors

7

133,328

132,014

Cash at bank

59,447

78,820

210,925

228,334

CREDITORS

Amounts falling due within one year

8

125,519

191,339

NET CURRENT ASSETS

85,406

36,995

TOTAL ASSETS LESS CURRENT LIABILITIES

489,458

550,301

CREDITORS

Amounts falling due after more than one year

9

(7,447

)

(67,463

)

PROVISIONS FOR LIABILITIES

11

(38,600

)

(58,500

)

NET ASSETS

443,411

424,338

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

443,311

424,238

SHAREHOLDERS' FUNDS

443,411

424,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 11 April 2019 and were signed by:

Mr J P Greener - Director

1.	STATUTORY INFORMATION

Greener Transport 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents the amount derived from the provision of goods and services falling within the company's

activities.

Revenue is recognised upon proof of delivery at which point invoices are raised and sales are recorded in the

accounting system.

Goodwill

Acquired goodwill has been written off in equal annual instalments over its estimated useful economic life of 10

years.

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

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its

expected useful life, as follows:

Freehold property - 2% on cost from the year following the year of acquisition

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 15% on cost

Motor vehicles - 25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual

provisions of the instrument.

Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except

for those financial assets classified as fair value through profit or loss, which are initially measured at fair value

(which is normally the transaction price excluding transaction costs), unless the transaction constitutes a

financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial

liability is measured at the present value of the future payments discounted at market rate of interest for a

similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there

exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on

a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that are classified as payable or receivable within one year on initial recognition are

measured at the undiscounted amount of cash or other consideration expected to be paid or received, net of

impairment.

Financial assets are derecognised when, and only when (a) the contractual rights to the cash flows from the

financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and

rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all,

significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled

or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 and finance leases are capitalised as tangible assets and

depreciated over their useful lives. Obligations under such agreements are included in creditors net of the

finance charge allocated to future periods. The finance element of the rental payment is charged to the profit

and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each

period.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance

sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Non-financial assets

An asset is impaired where the is objective evidence that, as a result of one or more events that occurred after

initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of

an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's

carrying amount and the present value of estimated future cash flows, discounted at the financial asset's

original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's

carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold

at the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

186,000

AMORTISATION

At 1 January 2018

and 31 December 2018

186,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

234,776

620,344

855,120

Disposals

-

(68,370

)

(68,370

)

At 31 December 2018

234,776

551,974

786,750

DEPRECIATION

At 1 January 2018

22,183

319,631

341,814

Charge for year

4,704

65,389

70,093

Eliminated on disposal

-

(29,209

)

(29,209

)

At 31 December 2018

26,887

355,811

382,698

NET BOOK VALUE

At 31 December 2018

207,889

196,163

404,052

At 31 December 2017

212,593

300,713

513,306

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

513,551

Disposals

(46,875

)

At 31 December 2018

466,676

DEPRECIATION

At 1 January 2018

269,078

Charge for year

54,939

Eliminated on disposal

(22,156

)

At 31 December 2018

301,861

NET BOOK VALUE

At 31 December 2018

164,815

At 31 December 2017

244,473

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

123,788

127,069

Other debtors

9,540

4,945

133,328

132,014

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loan and overdraft

3,274

6,093

Hire purchase contracts

49,753

108,514

Trade creditors

9,113

13,467

Taxation and social security

49,247

54,804

Other creditors

14,132

8,461

125,519

191,339

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

7,447

67,463

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

57,200

175,977

Liabilities under hire purchase and lease finance agreements are secured on the assets to which these relate.

11.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred taxation accelerated

capital allowances

38,600

58,500

38,600

58,500

Deferred

tax

£

Balance at 1 January 2018

58,500

Credit to Income Statement during year

(19,900

)

Balance at 31 December 2018

38,600

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

13.	DIRECTOR'S ADVANCES

The following advances to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

Mr J P Greener

Balance outstanding at start of year

61

6,831

Amounts advanced

22,500

30,061

Amounts repaid

(25,806

)

(36,831

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,245

)

61