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REGISTERED NUMBER: 12277852 (England and Wales)















GreenWoodBlue Limited

Unaudited Financial Statements for the Year Ended 31 December 2022






GreenWoodBlue Limited (Registered number: 12277852)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GreenWoodBlue Limited

Company Information
for the Year Ended 31 December 2022







Directors: Mrs H S Desmond
Mr B J Desmond
Miss J C Desmond





Registered office: Shop Cottage
Llandegveth
Newport
NP18 1HX





Registered number: 12277852 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

GreenWoodBlue Limited (Registered number: 12277852)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £   
Fixed assets
Intangible assets 4 2,441 -
Property, plant and equipment 5 36,339 79,745
38,780 79,745

Current assets
Inventories 5,500 6,168
Debtors 6 33,252 15,589
Cash at bank 146,657 219,820
185,409 241,577
Creditors
Amounts falling due within one year 7 (90,293 ) (100,836 )
Net current assets 95,116 140,741
Total assets less current liabilities 133,896 220,486

Creditors
Amounts falling due after more than one
year

8

(25,074

)

(34,999

)

Provisions for liabilities 9 (3,122 ) (9,168 )
Net assets 105,700 176,319

Capital and reserves
Called up share capital 10 100 100
Retained earnings 105,600 176,219
Shareholders' funds 105,700 176,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

GreenWoodBlue Limited (Registered number: 12277852)

Statement of Financial Position - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr B J Desmond - Director


GreenWoodBlue Limited (Registered number: 12277852)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. Statutory information

GreenWoodBlue 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. Accounting policies

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

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.


GreenWoodBlue Limited (Registered number: 12277852)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. Accounting policies - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 12 (2021 - 9 ) .

4. Intangible fixed assets
Computer
software
£   
Cost
Additions 3,255
At 31 December 2022 3,255
Amortisation
Amortisation for year 814
At 31 December 2022 814
Net book value
At 31 December 2022 2,441

5. Property, plant and equipment
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2022 6,667 87,472 33,500 3,492 131,131
Additions 1,700 1,845 - 1,873 5,418
Disposals - (19,048 ) - (1,474 ) (20,522 )
At 31 December 2022 8,367 70,269 33,500 3,891 116,027
Depreciation
At 1 January 2022 3,598 43,744 3,490 554 51,386
Charge for year 2,585 27,776 7,502 1,711 39,574
Eliminated on disposal - (10,673 ) - (599 ) (11,272 )
At 31 December 2022 6,183 60,847 10,992 1,666 79,688
Net book value
At 31 December 2022 2,184 9,422 22,508 2,225 36,339
At 31 December 2021 3,069 43,728 30,010 2,938 79,745

GreenWoodBlue Limited (Registered number: 12277852)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 30,867 14,400
Other debtors 270 -
Prepayments 2,115 1,189
33,252 15,589

7. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,525 2,166
Tax 26,732 39,555
Social security and other taxes 265 303
Wages payable 52 82
VAT 19,495 18,436
Other creditors 641 479
Directors' current accounts 25,633 29,815
Accrued expenses 950 -
90,293 100,836

8. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans - 1-2 years 10,000 9,999
Bank loans - 2-5 years 15,074 25,000
25,074 34,999

9. Provisions for liabilities
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 3,122 9,168

Deferred
tax
£   
Balance at 1 January 2022 9,168
Credit to Income Statement during year (6,046 )
Balance at 31 December 2022 3,122

10. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
70 Ordinary £1 70 70
30 "A" Ordinary £1 30 30
100 100