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REGISTERED NUMBER: 03347464 (England and Wales)















GREEN WILLOW FUNERALS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 5,388 -
Tangible assets 6 273,417 71,710
278,805 71,710

CURRENT ASSETS
Stocks 21,942 24,379
Debtors 7 176,666 109,384
Cash at bank and in hand 237,462 394,269
436,070 528,032
CREDITORS
Amounts falling due within one year 8 267,536 300,701
NET CURRENT ASSETS 168,534 227,331
TOTAL ASSETS LESS CURRENT LIABILITIES 447,339 299,041

PROVISIONS FOR LIABILITIES 10,000 -
NET ASSETS 437,339 299,041

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 437,337 299,039
SHAREHOLDERS' FUNDS 437,339 299,041

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th October 2023 and were signed on its behalf by:





E E Powell - Director


GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Green Willow Funerals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03347464

Registered office: Eclipse House
Coronation Road
Cardiff
CF14 4QY

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amount receivable for goods supplied and services rendered, stated net of discounts.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Goodwill has been fully amortised.

GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 25 years
Plant and machinery - 20% straight line on cost
Fixtures and fittings - 20% straight line on cost
Motor vehicles - 25% straight line on cost
Computer equipment - 33.33% straight line on cost

Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

This comprises the investment in the subsidiary Green Willow Property Management Limited, which is dormant and not trading.

The investment has been fully impaired this year as the company has been dissolved in April 2023.

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


3. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method if due more than one year and the effect of discounting is material.

Going concern
There are no material matters arising which prevent the financial statements being prepared on the basis of a going concern.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 27 ) .

5. INTANGIBLE FIXED ASSETS
Website &
Goodwill Branding Totals
£    £    £   
COST
At 1st April 2022 11,300 - 11,300
Additions - 5,388 5,388
At 31st March 2023 11,300 5,388 16,688
AMORTISATION
At 1st April 2022
and 31st March 2023 11,300 - 11,300
NET BOOK VALUE
At 31st March 2023 - 5,388 5,388
At 31st March 2022 - - -

GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st April 2022 41,342 54,638 27,589
Additions - - 382
At 31st March 2023 41,342 54,638 27,971
DEPRECIATION
At 1st April 2022 21,457 44,699 24,588
Charge for year 1,653 4,559 1,975
At 31st March 2023 23,110 49,258 26,563
NET BOOK VALUE
At 31st March 2023 18,232 5,380 1,408
At 31st March 2022 19,885 9,939 3,001

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 56,160 42,831 222,560
Additions 234,180 5,011 239,573
At 31st March 2023 290,340 47,842 462,133
DEPRECIATION
At 1st April 2022 25,655 34,451 150,850
Charge for year 23,798 5,881 37,866
At 31st March 2023 49,453 40,332 188,716
NET BOOK VALUE
At 31st March 2023 240,887 7,510 273,417
At 31st March 2022 30,505 8,380 71,710

GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 128,483 75,671
Other debtors and prepayments 48,183 33,713
176,666 109,384

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 104,364 116,613
Taxation and social security 16,200 18,192
Other creditors and accruals 146,972 165,896
267,536 300,701

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 248,113 334,310
Between one and five years 179,649 410,477
In more than five years 25,650 42,750
453,412 787,537

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Farzana Ahmed (Senior Statutory Auditor)
for and on behalf of Carston Chartered Accountants

11. CONTINGENT LIABILITIES

At the year-end the company had ongoing litigation, Green WIllow Funerals has not accepted liability and is defending the action. It is anticipated that this will be resolved within 8 months of signing the accounts, however, the outcome is unclear. It is estimated by the directors and legal advisors that costs including legal fees of £25,000 may be incurred.

GREEN WILLOW FUNERALS LIMITED (REGISTERED NUMBER: 03347464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


12. RELATED PARTY DISCLOSURES

The company is wholly owned by its holding charity, Cardiff YMCA (1910) Trust (registered charity no: 1163822).

During the year, gift aid payments were made to the holding charity of £23,074 (2022 £513,697). The company
intends paying £115,000 to the charity for gift aid within 9 months of the year-end. This will be recognised as a
distribution in the 31 March 2023 financial statements.

After the year-end, two loans of £105,000 and £138,000 were made to the company by its holding charity (Cardiff YMCA (1910) Trust) and is secured by registering a charge on the assets of the company for the latter loan. Interest is being charged at the market rate on both loans.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Cardiff YMCA (1910) Trust (CharityRegistration no: 1163822).