Greenway UK Lawns Limited - Period Ending 2015-02-28

Greenway UK Lawns Limited - Period Ending 2015-02-28


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Registration number: 08422677

Greenway UK Lawns Limited

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2015
 

Clere's Limited
Chartered Certified Accountants
GN House
119 Holloway Head
Birmingham
West Midlands
B1 1QP

 

Greenway UK Lawns Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Greenway UK Lawns Limited
(Registration number: 08422677)
Abbreviated Balance Sheet at 28 February 2015

   

Note

   

28 February 2015
£

   

28 February 2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

7,995

   

9,626

 

Current assets

 

             

Cash at bank and in hand

 

   

72

   

1,293

 

Creditors: Amounts falling due within one year

 

   

(15,089)

   

(10,068)

 

Net current liabilities

 

   

(15,017)

   

(8,775)

 

Total assets less current liabilities

 

   

(7,022)

   

851

 

Creditors: Amounts falling due after more than one year

 

   

(1,985)

   

(5,034)

 

Net liabilities

 

   

(9,007)

   

(4,183)

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

(9,008)

   

(4,184)

 

Shareholders' deficit

 

   

(9,007)

   

(4,183)

 

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 29 January 2016

.........................................
Mr D Loveland
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Greenway UK Lawns Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Greenway UK Lawns Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 March 2014

 

12,296

   

12,296

 

Additions

 

509

   

509

 

At 28 February 2015

 

12,805

   

12,805

 

Depreciation

           

At 1 March 2014

 

2,670

   

2,670

 

Charge for the year

 

2,140

   

2,140

 

At 28 February 2015

 

4,810

   

4,810

 

Net book value

           

At 28 February 2015

 

7,995

   

7,995

 

At 28 February 2014

 

9,626

   

9,626

 

3

Share capital

Allotted, called up and fully paid shares

 

28 February 2015

28 February 2014

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

1

   

1

   

1

   

1