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REGISTERED NUMBER: 07703296 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GREEN ISLAND WEALTH MANAGEMENT LTD

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GREEN ISLAND WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr B Tobin





REGISTERED OFFICE: Evolution House
Iceni Court
Delft Way
Norwich
Norfolk
NR6 6BB





REGISTERED NUMBER: 07703296 (England and Wales)





ACCOUNTANTS: Farnell Clarke Limited
Evolution House
Delft Way
Norwich Airport
Norwich
Norfolk
NR6 6BB

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 120,482 137,562
Property, plant and equipment 5 838 1,362
Investments 6 7,000 7,000
128,320 145,924

CURRENT ASSETS
Inventories 11,060 5,300
Debtors 7 605,001 654,274
Cash at bank 851 1
616,912 659,575
CREDITORS
Amounts falling due within one year 8 184,331 154,869
NET CURRENT ASSETS 432,581 504,706
TOTAL ASSETS LESS CURRENT LIABILITIES 560,901 650,630

CREDITORS
Amounts falling due after more than one
year

9

(525,339

)

(640,114

)

PROVISIONS FOR LIABILITIES (199 ) (258 )
NET ASSETS 35,363 10,258

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 10,000 10,000
Retained earnings 25,362 257
SHAREHOLDERS' FUNDS 35,363 10,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





Mr B Tobin - Director


GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Green Island Wealth Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill consists of the amount paid in connection with the acquisition of three businesses in 2017, 2020 and 2021, which are all being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 170,807
AMORTISATION
At 1 April 2022 33,245
Amortisation for year 17,080
At 31 March 2023 50,325
NET BOOK VALUE
At 31 March 2023 120,482
At 31 March 2022 137,562

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 2,684 4,902 7,586
Additions - 698 698
Disposals (2,535 ) (658 ) (3,193 )
At 31 March 2023 149 4,942 5,091
DEPRECIATION
At 1 April 2022 1,756 4,468 6,224
Charge for year 139 351 490
Eliminated on disposal (1,803 ) (658 ) (2,461 )
At 31 March 2023 92 4,161 4,253
NET BOOK VALUE
At 31 March 2023 57 781 838
At 31 March 2022 928 434 1,362

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 7,000
NET BOOK VALUE
At 31 March 2023 7,000
At 31 March 2022 7,000

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 22,299 27,828
Director's current account 152,541 83,600
Tax 50,096 27,170
Accrued income 38,012 35,384
Prepayments 60 122
263,008 174,104

Amounts falling due after more than one year:
Other debtors 341,993 480,170

Aggregate amounts 605,001 654,274

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,150 3,265
Other loans 116,700 116,700
Trade creditors 390 12
Corporation tax 45,540 22,050
Social security and other taxes 483 677
Net wages 68 -
Other creditors 12,000 12,105
Accrued expenses - 60
184,331 154,869

GREEN ISLAND WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07703296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans 464,513 567,473
Other creditors 60,826 72,641
525,339 640,114

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr B Tobin
Balance outstanding at start of year 83,600 73,069
Amounts advanced 97,733 27,687
Amounts repaid (28,792 ) (17,156 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 152,541 83,600

During the year, interest of £766.96 (2022 - £755.71) was charged on the loan.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B Tobin.