Company registration number 05730015 (England and Wales)
BIG GREEN SMILE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BIG GREEN SMILE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BIG GREEN SMILE LTD
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
5
7,900
4,400
Investments
6
3,155,266
1,479,554
3,163,166
1,483,954
Current assets
Debtors
7
60,883
37,876
Cash at bank and in hand
939,752
23,520
1,000,635
61,396
Creditors: amounts falling due within one year
8
(486,563)
(578,222)
Net current assets/(liabilities)
514,072
(516,826)
Total assets less current liabilities
3,677,238
967,128
Creditors: amounts falling due after more than one year
9
(58,784)
(230,140)
Net assets
3,618,454
736,988
Capital and reserves
Called up share capital
37,417
20,635
Share premium account
5,898,214
2,452,576
Profit and loss reserves
(2,317,177)
(1,736,223)
Total equity
3,618,454
736,988
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 October 2023 and are signed on its behalf by:
B J Wigley
Director
Company registration number 05730015 (England and Wales)
BIG GREEN SMILE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Big Green Smile Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Church Street, Amersham, Buckinghamshire, HP7 0DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. true
The directors have reviewed the results for 2022, management accounts for 2023 and the business plan to December 2026 which indicates that the company will have sufficient resources to be able to meet its liabilities as they fall due for the foreseeable future. The directors have also confirmed that they will continue to provide support to the company as required, and therefore, it is appropriate to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover for online sales is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and is recognised ex-warehouse.
Management charges are invoiced and recharged on a monthly basis for costs and expenses incurred on behalf of group companies.
1.4
Intangible fixed assets other than goodwill
Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
2 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
BIG GREEN SMILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Computers
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.12
Preparation of consolidated financial statements
The financial statements contain information about Big Green Smile Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
BIG GREEN SMILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Assessment of impairment of investments
Investments are tested for impairment usually annually or more frequently, whenever there is an indication that the asset may be impaired. An impairment occurs when the carrying amount is less than the recoverable amount. The recoverable amount of an asset is the higher of fair value, less disposal costs, and its value in use. In assessing its value in use, the pre-tax estimated future cash flows are discounted at their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The process of determining a fair value and value in use inherently requires the use of estimates which cannot be assessed with certainty and any variation between the current estimate and actual figures will affect the value of the impairment.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
14
13
4
Intangible fixed assets
Software
£
Cost
At 1 January 2022 and 31 December 2022
6,151
Amortisation and impairment
At 1 January 2022 and 31 December 2022
6,151
Carrying amount
At 31 December 2022
At 31 December 2021
BIG GREEN SMILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
5
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 January 2022
4,427
21,239
25,666
Additions
5,392
5,392
At 31 December 2022
4,427
26,631
31,058
Depreciation and impairment
At 1 January 2022
1,971
19,295
21,266
Depreciation charged in the year
876
1,016
1,892
At 31 December 2022
2,847
20,311
23,158
Carrying amount
At 31 December 2022
1,580
6,320
7,900
At 31 December 2021
2,456
1,944
4,400
6
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
3,155,266
1,079,554
Loans to group undertakings and participating interests
400,000
3,155,266
1,479,554
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 January 2022
1,079,554
400,000
1,479,554
Additions
-
1,675,712
1,675,712
Loans capitalised
2,075,712
(2,075,712)
-
At 31 December 2022
3,155,266
-
3,155,266
Carrying amount
At 31 December 2022
3,155,266
-
3,155,266
At 31 December 2021
1,079,554
400,000
1,479,554
BIG GREEN SMILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
7
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
20,916
22,412
Other debtors
39,967
15,464
60,883
37,876
8
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
78,714
19,619
Amounts owed to group undertakings
262,613
65,918
Taxation and social security
36,869
275,046
Other creditors
108,367
217,639
486,563
578,222
9
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
58,784
230,140
10
Secured debt
Other creditors included in amounts due within one year and amounts falling due after more than one year include £117,134 which is secured by personal guarantees provided by three shareholders.
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Tom Lacey FCCA
Statutory Auditor:
Nunn Hayward LLP