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Registration number: 08555323

Green Facades Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Green Facades Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Green Facades Limited

Company Information

Directors

Mr Altin Kajnozi

Mr Bledar Pashollari

Registered office

Office 5-8
50 River Gardens Walk
London
SE10 0UB

Accountants

BBK Accountants BMM Limited
Chartered Certified Accountants
4A Roman Road
London
E6 3RX

 

Green Facades Limited

(Registration number: 08555323)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

72,872

94,500

Current assets

 

Stocks

5

150,000

261,000

Debtors

6

2,772,353

1,527,934

Cash at bank and in hand

 

35,917

67,423

 

2,958,270

1,856,357

Creditors: Amounts falling due within one year

7

(1,412,976)

(863,783)

Net current assets

 

1,545,294

992,574

Net assets

 

1,618,166

1,087,074

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,618,066

1,086,974

Shareholders' funds

 

1,618,166

1,087,074

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

 

Green Facades Limited

(Registration number: 08555323)
Balance Sheet as at 31 March 2023

.........................................
Mr Altin Kajnozi
Director

.........................................
Mr Bledar Pashollari
Director

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Office 5-8
50 River Gardens Walk
London
SE10 0UB

These financial statements were authorised for issue by the Board on 22 February 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 15).

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

32,769

45,627

100,281

178,677

Additions

-

1,997

-

1,997

At 31 March 2023

32,769

47,624

100,281

180,674

Depreciation

At 1 April 2022

17,134

30,975

36,068

84,177

Charge for the year

3,909

3,663

16,053

23,625

At 31 March 2023

21,043

34,638

52,121

107,802

Carrying amount

At 31 March 2023

11,726

12,986

48,160

72,872

At 31 March 2022

15,636

14,652

64,212

94,500

5

Stocks

2023
£

2022
£

Work in progress

150,000

261,000

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

169,307

2,044

Amounts owed by related parties

10

2,600,736

1,525,387

Other debtors

 

2,310

503

   

2,772,353

1,527,934

7

Creditors

Creditors: amounts falling due within one year

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Due within one year

Trade creditors

282,731

300,874

Taxation and social security

831,884

414,777

Accruals and deferred income

-

300

Other creditors

298,361

147,832

1,412,976

863,783

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share class of £1 each

1

1

1

1

A Ordinary share class of £1 each

99

99

99

99

 

100

100

100

100

9

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £1.00 (2022 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2022 - £4.00) per ordinary share

 

1,750,000

 

1,710,000

   

1,750,000

 

1,710,000

         

10

Related party transactions

During the year the company entered into the following transactions with the related parties:

BAC Green Holdings Ltd: £2,60,736.30

Green Facades Ltd is wholly owned by BAC Green Holdings Ltd. Mr. Bledar Pashollari and Mr. Alton Kajnozi are directotrs of BAC Green Holdings Ltd

Mr Bledar Pashollari is a 100% shareholder of BAC Green Holdings Ltd.

 

Green Facades Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

16,800

62,034