Greener Transport Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04920724

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Greener Transport Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTOR:

Mr J P Greener

SECRETARY:

Mr M A Greener

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

04920724

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

732,457

554,788

732,457

554,788

CURRENT ASSETS

Stocks

1,700

2,000

Debtors

132,389

201,687

Cash at bank

89,187

62,198

223,276

265,885

CREDITORS

Amounts falling due within one year

4

169,910

174,452

NET CURRENT ASSETS

53,366

91,433

TOTAL ASSETS LESS CURRENT LIABILITIES

785,823

646,221

CREDITORS

Amounts falling due after more than one year

4

(288,601

)

(199,150

)

PROVISIONS FOR LIABILITIES

(93,125

)

(68,200

)

NET ASSETS

404,097

378,871

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

403,997

378,771

SHAREHOLDERS' FUNDS

404,097

378,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 May 2016 and were signed by:

Mr J P Greener - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the total value of sales made during the year, excluding value added tax.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

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.

Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an obligation to

pay more, or a right to pay less or to receive more, tax, with the following exception:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that there will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in profit and loss.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

186,000

AMORTISATION

At 1 January 2015

and 31 December 2015

186,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

934,193

Additions

342,815

Disposals

(283,645

)

At 31 December 2015

993,363

DEPRECIATION

At 1 January 2015

379,405

Charge for year

99,963

Eliminated on disposal

(218,462

)

At 31 December 2015

260,906

NET BOOK VALUE

At 31 December 2015

732,457

At 31 December 2014

554,788

4.

CREDITORS

Creditors include an amount of £ 407,652 (2014 - £ 279,143 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

as restated

£

£

100

Ordinary

1

100

100

6.	DIRECTOR'S ADVANCES

The following advances to a director subsisted during the years ended 31 December 2015 and

31 December 2014:

2015

2014

as restated

£

£

Mr J P Greener

Balance outstanding at start of year

-

-

Amounts advanced

19,268

-

Amounts repaid

-

-

Balance outstanding at end of year

19,268

-

Interest at 3% is charged on advances to the director, an amount of £13 in 2015.