Green Genie Spirits Limited 13980207 false 2022-03-16 2023-03-31 2023-03-31 The principal activity of the company is Wholesale of wine, beer, spirits and other alcoholic beverages Digita Accounts Production Advanced 6.30.9574.0 true 13980207 2022-03-16 2023-03-31 13980207 2023-03-31 13980207 bus:OrdinaryShareClass1 2023-03-31 13980207 core:CurrentFinancialInstruments 2023-03-31 13980207 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13980207 bus:SmallEntities 2022-03-16 2023-03-31 13980207 bus:AuditExemptWithAccountantsReport 2022-03-16 2023-03-31 13980207 bus:FullAccounts 2022-03-16 2023-03-31 13980207 bus:SmallCompaniesRegimeForAccounts 2022-03-16 2023-03-31 13980207 bus:RegisteredOffice 2022-03-16 2023-03-31 13980207 bus:Director1 2022-03-16 2023-03-31 13980207 bus:OrdinaryShareClass1 2022-03-16 2023-03-31 13980207 bus:PrivateLimitedCompanyLtd 2022-03-16 2023-03-31 13980207 countries:EnglandWales 2022-03-16 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13980207

Green Genie Spirits Limited

Annual Report and Unaudited Financial Statements

for the Period from 16 March 2022 to 31 March 2023

 

Green Genie Spirits Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Green Genie Spirits Limited

Company Information

Director

Mr Steven Scutt

Registered office

Riverside House
14 Prospect Place
Welwyn
Hertfordshire
AL6 9EN

Accountants

RS Partnership Ltd
Chartered Certified Accountants
Riverside House
14 Prospect Place
Welwyn
Hertfordshire
AL6 9EN

 

Green Genie Spirits Limited

(Registration number: 13980207)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Stocks

4

3,100

Debtors

5

3,467

Cash at bank and in hand

 

617

 

7,184

Creditors: Amounts falling due within one year

6

(40,340)

Net liabilities

 

(33,156)

Capital and reserves

 

Called up share capital

7

120

Retained earnings

(33,276)

Shareholders' deficit

 

(33,156)

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 October 2023
 

.........................................
Mr Steven Scutt
Director

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Period from 16 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Riverside House
14 Prospect Place
Welwyn
Hertfordshire
AL6 9EN
England

The principal place of business is:
25 The Bury
Bury Lane
Codicote
Hertfordshire
SG4 8GG

These financial statements were authorised for issue by the director on 13 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Period from 16 March 2022 to 31 March 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Stocks

2023
£

Other inventories

3,100

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Period from 16 March 2022 to 31 March 2023

5

Debtors

2023
£

Trade debtors

365

Prepayments

2,694

Other debtors

408

3,467

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

3,784

Other creditors

31,000

Directors Loan Account

5,556

40,340

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

120

120