Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Wholesale of household goods (other than musical instruments) not elsewhere classified22truetrue 06470586 2022-02-01 2023-01-31 06470586 2021-02-01 2022-01-31 06470586 2023-01-31 06470586 2022-01-31 06470586 c:Director1 2022-02-01 2023-01-31 06470586 d:PlantMachinery 2022-02-01 2023-01-31 06470586 d:PlantMachinery 2023-01-31 06470586 d:PlantMachinery 2022-01-31 06470586 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06470586 d:CurrentFinancialInstruments 2023-01-31 06470586 d:CurrentFinancialInstruments 2022-01-31 06470586 d:Non-currentFinancialInstruments 2023-01-31 06470586 d:Non-currentFinancialInstruments 2022-01-31 06470586 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06470586 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 06470586 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06470586 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 06470586 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 06470586 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 06470586 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 06470586 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 06470586 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 06470586 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-01-31 06470586 d:ShareCapital 2023-01-31 06470586 d:ShareCapital 2022-01-31 06470586 d:RetainedEarningsAccumulatedLosses 2023-01-31 06470586 d:RetainedEarningsAccumulatedLosses 2022-01-31 06470586 c:OrdinaryShareClass1 2022-02-01 2023-01-31 06470586 c:OrdinaryShareClass1 2023-01-31 06470586 c:FRS102 2022-02-01 2023-01-31 06470586 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 06470586 c:FullAccounts 2022-02-01 2023-01-31 06470586 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06470586









GREEN OIL UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
GREEN OIL UK LIMITED
REGISTERED NUMBER: 06470586

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,013
994

Current assets
  

Stocks
 5 
16,952
19,084

Debtors: amounts falling due within one year
 6 
11,606
13,224

  
28,558
32,308

Creditors: amounts falling due within one year
 8 
(22,590)
(20,043)

Net current assets
  
 
 
5,968
 
 
12,265

Total assets less current liabilities
  
6,981
13,259

Creditors: amounts falling due after more than one year
 9 
(101,247)
(93,804)

  

Net liabilities
  
(94,266)
(80,545)


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
(95,266)
(81,545)

  
(94,266)
(80,545)

Page 1

 
GREEN OIL UK LIMITED
REGISTERED NUMBER: 06470586
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S F M Nash
Director

Date: 12 October 2023

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
GREEN OIL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Green Oil UK Limited is a private company limited by shares and incorporated in England and Wales. The registered office is at Unit Cc.106 Cocoa Studios, The Biscuit Factory, 100 Drummond Road, Bermondsey, London, England, SE16 4DG. 
The principal activity of the company during the year has been that of the production of ecologically friendly bicycle products. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Going concern

The company has reported a modest loss for the year and has net liabilities. However, the director anticipates an improvement in performance, and has a reasonable expectation that the company will have adequate financial resources for the foreseeable future. Furthermore, the company relies substantially on the director to fund its operations through ongoing loans, and the director has confirmed his financial support will remain ongoing for the foreseeable future. Accordingly, the going concern basis has been adopted in the preparation of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
GREEN OIL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Plant & machinery
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis.
At each reporting date, stocks are assessed for impairment. If stock is 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. 

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless
Page 4

 
GREEN OIL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 February 2022
2,637


Additions
259



At 31 January 2023

2,896



Depreciation


At 1 February 2022
1,643


Charge for the year on owned assets
240



At 31 January 2023

1,883



Net book value



At 31 January 2023
1,013



At 31 January 2022
994

Page 5

 
GREEN OIL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
16,952
19,084

16,952
19,084



6.


Debtors

2023
2022
£
£


Trade debtors
7,991
10,916

Other debtors
3,615
2,308

11,606
13,224



7.


Cash and cash equivalents

2023
2022
£
£

Less: bank overdrafts
(4,175)
(4,127)

(4,175)
(4,127)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
4,175
4,127

Bank loans
5,252
5,154

Trade creditors
10,084
7,683

Other creditors
129
129

Accruals and deferred income
2,950
2,950

22,590
20,043


Page 6

 
GREEN OIL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank Loans
17,047
20,998

Other creditors
84,200
72,806

101,247
93,804



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,252
5,154

Amounts falling due 1-2 years

Bank loans
5,386
5,286

Amounts falling due 2-5 years

Bank loans
11,661
10,975

Amounts falling due after more than 5 years

Bank loans
-
4,737

22,299
26,152



11.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



1,000 Ordinary shares of £1.00 each
1,000
1,000



12.


Related party transactions

Included within other creditors due after more than one year is an amount owed to the director, of £84,200 (2022: £72,806). This loan is unsecured, interest free and repayable upon demand.

 
Page 7