Company Registration No. 07707460 (England and Wales)
Green Future Design Limited
Unaudited accounts
for the year ended 31 March 2023
Green Future Design Limited
Unaudited accounts
Contents
Green Future Design Limited
Company Information
for the year ended 31 March 2023
Directors
Ms Ayodele Olufunke Stubbs
Mr James Lorenzo Stubbs
Company Number
07707460 (England and Wales)
Registered Office
6 Hanbury Cottages Hanbury Lane
Essendon
Hatfield
AL9 6AY
England
Green Future Design Limited
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
2,982
6,936
Creditors: amounts falling due within one year
(9,323)
(16,671)
Net current assets
3,106
8,991
Called up share capital
2
2
Profit and loss account
3,106
8,991
Shareholders' funds
3,108
8,993
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by
Mr James Lorenzo Stubbs
Director
Company Registration No. 07707460
Green Future Design Limited
Notes to the Accounts
for the year ended 31 March 2023
Green Future Design Limited is a private company, limited by shares, registered in England and Wales, registration number 07707460. The registered office is 6 Hanbury Cottages Hanbury Lane, Essendon, Hatfield, AL9 6AY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight line
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Green Future Design Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Trade debtors
3,576
10,168
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
4,486
9,390
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to directors
7,018
(1,147)
-
5,871
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).