Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Dr Graeme Wight Fairbairn 05/03/2012 Mrs Fiona Mary Woodman Mr Bruce Vaughan Woodman 05/01/2000 11 March 2024 The principal activity of the Company during the financial year was professional, scientific and technical activities. 03902634 2023-12-31 03902634 bus:Director1 2023-12-31 03902634 bus:Director3 2023-12-31 03902634 core:CurrentFinancialInstruments 2023-12-31 03902634 core:CurrentFinancialInstruments 2022-12-31 03902634 2022-12-31 03902634 core:ShareCapital 2023-12-31 03902634 core:ShareCapital 2022-12-31 03902634 core:RetainedEarningsAccumulatedLosses 2023-12-31 03902634 core:RetainedEarningsAccumulatedLosses 2022-12-31 03902634 bus:OrdinaryShareClass1 2023-12-31 03902634 2023-01-01 2023-12-31 03902634 bus:FilletedAccounts 2023-01-01 2023-12-31 03902634 bus:SmallEntities 2023-01-01 2023-12-31 03902634 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03902634 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03902634 bus:Director1 2023-01-01 2023-12-31 03902634 bus:Director2 2023-01-01 2023-12-31 03902634 bus:Director3 2023-01-01 2023-12-31 03902634 2022-01-01 2022-12-31 03902634 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03902634 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03902634 (England and Wales)

GREEN PENINSULA CO LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

GREEN PENINSULA CO LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GREEN PENINSULA CO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
GREEN PENINSULA CO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors 3 50,967 50,964
Cash at bank and in hand 79,516 63,077
130,483 114,041
Creditors: amounts falling due within one year 4 ( 4,856) ( 3,847)
Net current assets 125,627 110,194
Total assets less current liabilities 125,627 110,194
Net assets 125,627 110,194
Capital and reserves
Called-up share capital 5 99 99
Profit and loss account 125,528 110,095
Total shareholder's funds 125,627 110,194

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Green Peninsula Co Limited (registered number: 03902634) were approved and authorised for issue by the Board of Directors on 11 March 2024. They were signed on its behalf by:

Mrs Fiona Mary Woodman
Director
GREEN PENINSULA CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GREEN PENINSULA CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Green Peninsula Co Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 58 Coinagehall Street, Helston, Cornwall, TR13 8EL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 50,916 50,916
VAT recoverable 51 48
50,967 50,964

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 135 2,067
Accruals 1,101 1,780
Taxation and social security 3,620 0
4,856 3,847

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
99 Ordinary shares of £ 1.00 each 99 99