4 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 15,000 15,000 75,353 64,445 2,727 67,172 8,181 10,908 xbrli:pure xbrli:shares iso4217:GBP 05457266 2022-06-01 2023-05-31 05457266 2023-05-31 05457266 2022-05-31 05457266 2021-06-01 2022-05-31 05457266 2022-05-31 05457266 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31 05457266 bus:Director2 2022-06-01 2023-05-31 05457266 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 05457266 core:WithinOneYear 2023-05-31 05457266 core:WithinOneYear 2022-05-31 05457266 core:AfterOneYear 2023-05-31 05457266 core:AfterOneYear 2022-05-31 05457266 core:ShareCapital 2023-05-31 05457266 core:ShareCapital 2022-05-31 05457266 core:RetainedEarningsAccumulatedLosses 2023-05-31 05457266 core:RetainedEarningsAccumulatedLosses 2022-05-31 05457266 bus:SmallEntities 2022-06-01 2023-05-31 05457266 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 05457266 bus:FullAccounts 2022-06-01 2023-05-31 05457266 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 05457266 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05457266 core:OfficeEquipment 2022-06-01 2023-05-31 05457266 core:OfficeEquipment 2023-05-31 05457266 core:OfficeEquipment 2022-05-31
COMPANY REGISTRATION NUMBER: 05457266
England Green Ltd
Filleted Unaudited Financial Statements
31 May 2023
England Green Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
8,181
10,908
Current assets
Debtors
7
54,944
59,803
Cash at bank and in hand
24,316
10,424
--------
--------
79,260
70,227
Creditors: amounts falling due within one year
8
( 59,142)
( 48,108)
--------
--------
Net current assets
20,118
22,119
--------
--------
Total assets less current liabilities
28,299
33,027
Creditors: amounts falling due after more than one year
9
( 20,752)
( 30,746)
Provisions
Taxation including deferred tax
( 1,554)
( 1,959)
--------
--------
Net assets
5,993
322
--------
--------
Capital and reserves
Called up share capital
20
20
Profit and loss account
5,973
302
-------
----
Shareholders funds
5,993
322
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
England Green Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
P Lawrence
Director
Company registration number: 05457266
England Green Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor Holden House, 57 Rathbone Place, London, W1T 1JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Despite the impact of the Covid-19 pandemic, the company's turnover has remained stable and the management accounts for the current year indicate the company is continuing to remain profitable. The directors are therefore of the opinion that the company is able to continue to trade as a going concern.
Revenue recognition
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Identity design
-
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Development costs
£
Cost
At 1 June 2022 and 31 May 2023
15,000
--------
Amortisation
At 1 June 2022 and 31 May 2023
15,000
--------
Carrying amount
At 31 May 2023
--------
At 31 May 2022
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 June 2022 and 31 May 2023
75,353
75,353
--------
--------
Depreciation
At 1 June 2022
64,445
64,445
Charge for the year
2,727
2,727
--------
--------
At 31 May 2023
67,172
67,172
--------
--------
Carrying amount
At 31 May 2023
8,181
8,181
--------
--------
At 31 May 2022
10,908
10,908
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
15,963
17,138
Other debtors
38,981
42,665
--------
--------
54,944
59,803
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,994
11,029
Trade creditors
1,042
219
Corporation tax
10,030
7,707
Social security and other taxes
31,455
23,273
Other creditors
6,621
5,880
--------
--------
59,142
48,108
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,752
30,746
--------
--------
10. Directors' advances, credits and guarantees
At the year end, the directors owed the company £26,011 (2022 - £29,965).