Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-01Property development22truetrue 09846406 2022-01-01 2022-12-31 09846406 2021-01-01 2021-12-31 09846406 2022-12-31 09846406 2021-12-31 09846406 c:Director1 2022-01-01 2022-12-31 09846406 d:MotorVehicles 2022-01-01 2022-12-31 09846406 d:MotorVehicles 2022-12-31 09846406 d:MotorVehicles 2021-12-31 09846406 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09846406 d:FurnitureFittings 2022-01-01 2022-12-31 09846406 d:FurnitureFittings 2022-12-31 09846406 d:FurnitureFittings 2021-12-31 09846406 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09846406 d:ComputerEquipment 2022-01-01 2022-12-31 09846406 d:ComputerEquipment 2022-12-31 09846406 d:ComputerEquipment 2021-12-31 09846406 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09846406 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09846406 d:CurrentFinancialInstruments 2022-12-31 09846406 d:CurrentFinancialInstruments 2021-12-31 09846406 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09846406 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09846406 d:ShareCapital 2022-12-31 09846406 d:ShareCapital 2021-12-31 09846406 d:RetainedEarningsAccumulatedLosses 2022-12-31 09846406 d:RetainedEarningsAccumulatedLosses 2021-12-31 09846406 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 09846406 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 09846406 c:FRS102 2022-01-01 2022-12-31 09846406 c:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 09846406 c:FullAccounts 2022-01-01 2022-12-31 09846406 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09846406 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09846406










GREEN FOUNDATIONS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GREEN FOUNDATIONS LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFGREEN FOUNDATIONS LTD
FOR THE YEAR ENDED 31 DECEMBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Green Foundations Ltd for the year ended 31 December 2022 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Green Foundations Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Green Foundations Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Foundations Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Green Foundations Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Green Foundations Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Green Foundations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

22 February 2024
Page 1

 
GREEN FOUNDATIONS LTD
REGISTERED NUMBER: 09846406

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
115,850
1,928

Investments
 5 
840,557
682,740

  
956,407
684,668

Current assets
  

Stocks
 6 
132,654
465,302

Debtors: amounts falling due within one year
 7 
264,713
303,104

Cash at bank and in hand
 8 
636,428
258,378

  
1,033,795
1,026,784

Creditors: amounts falling due within one year
 9 
(375,787)
(317,683)

Net current assets
  
 
 
658,008
 
 
709,101

Total assets less current liabilities
  
1,614,415
1,393,769

  

Net assets
  
1,614,415
1,393,769


Capital and reserves
  

Called up share capital 
  
6
6

Profit and loss account
  
1,614,409
1,393,763

  
1,614,415
1,393,769


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 on 22 February 2024.




Page 2

 
GREEN FOUNDATIONS LTD
REGISTERED NUMBER: 09846406

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

Abdullah Green
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Green Foundations Ltd is a company domiciled in England & Wales, registration number 09846406. The registered office is Wharf House, Wharf Street, Victoria Quays, Sheffield, S2 5SY.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
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.

Page 5

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
20%
Computer equipment
-
33%

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.9

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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
-
2,205
1,349
3,554


Additions
150,600
-
2,795
153,395



At 31 December 2022

150,600
2,205
4,144
156,949



Depreciation


At 1 January 2022
-
1,176
450
1,626


Charge for the year on owned assets
37,650
441
1,382
39,473



At 31 December 2022

37,650
1,617
1,832
41,099



Net book value



At 31 December 2022
112,950
588
2,312
115,850



At 31 December 2021
-
1,029
899
1,928

Page 8

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2022
682,740


Additions
157,817



At 31 December 2022
840,557





6.


Stocks

2022
2021
£
£

Finished goods and goods for resale
132,654
465,302

132,654
465,302



7.


Debtors

2022
2021
£
£


Trade debtors
115,791
22,349

Other debtors
148,922
275,755

Prepayments and accrued income
-
5,000

264,713
303,104



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
636,428
258,378

636,428
258,378


Page 9

 
GREEN FOUNDATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
49,004
54,796

Other taxation and social security
20,994
10,007

Other creditors
305,789
252,880

375,787
317,683



10.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
636,428
258,378




Financial assets measured at fair value through profit or loss comprise of cash at bank.


11.


Related party transactions

There were no related party transactions during the year.


12.


Controlling party

The company is controlled by the director Mr Green.


Page 10