Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseelectricity projects43truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12676147 2022-01-01 2022-12-31 12676147 2021-01-01 2021-12-31 12676147 2022-12-31 12676147 2021-12-31 12676147 c:Director1 2022-01-01 2022-12-31 12676147 d:ComputerEquipment 2022-01-01 2022-12-31 12676147 d:ComputerEquipment 2022-12-31 12676147 d:ComputerEquipment 2021-12-31 12676147 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12676147 d:CurrentFinancialInstruments 2022-12-31 12676147 d:CurrentFinancialInstruments 2021-12-31 12676147 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12676147 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12676147 d:ShareCapital 2022-12-31 12676147 d:ShareCapital 2021-12-31 12676147 d:RetainedEarningsAccumulatedLosses 2022-12-31 12676147 d:RetainedEarningsAccumulatedLosses 2021-12-31 12676147 c:FRS102 2022-01-01 2022-12-31 12676147 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12676147 c:FullAccounts 2022-01-01 2022-12-31 12676147 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12676147










GREENTECH PROJECTS HOLDING UK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GREENTECH PROJECTS HOLDING UK LIMITED
REGISTERED NUMBER: 12676147

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,477
2,241

  
3,477
2,241

Current assets
  

Debtors: amounts falling due within one year
 5 
2,902,285
1,160,728

Cash at bank and in hand
 6 
5,927
5,785

  
2,908,212
1,166,513

Creditors: amounts falling due within one year
 7 
(4,515,610)
(1,616,167)

Net current liabilities
  
 
 
(1,607,398)
 
 
(449,654)

Total assets less current liabilities
  
(1,603,921)
(447,413)

  

Net liabilities
  
(1,603,921)
(447,413)


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Profit and loss account
  
(1,628,921)
(472,413)

  
(1,603,921)
(447,413)


Page 1

 
GREENTECH PROJECTS HOLDING UK LIMITED
REGISTERED NUMBER: 12676147
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 by: 




................................................
Yaw Ofori
Director

Date: 19 February 2024

Page 2

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Greentech Projects Holding UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Challenge House, Sherwood Drive, Bletchley, Milton Keynes, Bucks, United Kingdom, MK3 6DP.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, based on the continued support of the group and the directors. 

 
2.3

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

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.

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:

Computer equipment
-
25%

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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,
Page 4

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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
Page 5

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 3).

Page 6

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
2,448


Additions
2,217



At 31 December 2022

4,665



Depreciation


At 1 January 2022
207


Charge for the year on owned assets
981



At 31 December 2022

1,188



Net book value



At 31 December 2022
3,477



At 31 December 2021
2,241


5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
467,660
170,797

Other debtors
312,775
137,865

Called up share capital not paid
-
25,000

Prepayments and accrued income
2,121,850
827,066

2,902,285
1,160,728



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
5,927
5,785


Page 7

 
GREENTECH PROJECTS HOLDING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
259,156
24,191

Amounts owed to group undertakings
3,997,618
1,557,543

Accruals and deferred income
258,836
34,433

4,515,610
1,616,167



8.


Related party transactions

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any party to the transaction with wholly owned subsidiaries within the group or where transactions have been undertaken under normal market conditions. 


9.


Controlling party

The immediate parent company is Greentech Projects GmbH, a company registered in Germany. 
The ultimate parent company is Greentech Holding GmbH, a company also registered in Germany. The registered office of the ultimate parent company is Warburgstraße 50, 20354 Hamburg, Germany. 

 
Page 8