Company registration number 12321292 (England and Wales)
THE GREEN MAN (NORTON DISNEY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE GREEN MAN (NORTON DISNEY) LIMITED
COMPANY INFORMATION
Directors
J Kinder
V R Kinder
V L Kinder (Previously V L Di Maro)
Company number
12321292
Registered office
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
THE GREEN MAN (NORTON DISNEY) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
THE GREEN MAN (NORTON DISNEY) LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF THE GREEN MAN (NORTON DISNEY) LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Green Man (Norton Disney) Limited for the year ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of The Green Man (Norton Disney) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Green Man (Norton Disney) Limited and state those matters that we have agreed to state to the board of directors of The Green Man (Norton Disney) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Green Man (Norton Disney) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Green Man (Norton Disney) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Green Man (Norton Disney) Limited. You consider that The Green Man (Norton Disney) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Green Man (Norton Disney) Limited. 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.
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
3 April 2024
THE GREEN MAN (NORTON DISNEY) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,781
10,521
Current assets
Stocks
4,000
3,800
Debtors
4
14,130
12,210
Cash at bank and in hand
3,800
3,635
21,930
19,645
Creditors: amounts falling due within one year
5
(327,458)
(51,610)
Net current liabilities
(305,528)
(31,965)
Total assets less current liabilities
(291,747)
(21,444)
Creditors: amounts falling due after more than one year
6
(150,000)
Provisions for liabilities
(3,445)
(2,630)
Net liabilities
(295,192)
(174,074)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(295,292)
(174,174)
Total equity
(295,192)
(174,074)
THE GREEN MAN (NORTON DISNEY) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 3 -
The notes on pages 4 to 7 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 March 2024 and are signed on its behalf by:
V R Kinder
Director
Company registration number 12321292 (England and Wales)
THE GREEN MAN (NORTON DISNEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
1
Accounting policies
Company information
The Green Man (Norton Disney) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this is assumption is dependent on the continued support of the other creditors not requiring the withdrawal of monies owed until sufficient funds are available.
If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.
1.3
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixture, fittings and equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
THE GREEN MAN (NORTON DISNEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.6
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 current liabilities.
1.7
Financial instruments
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
10
8
THE GREEN MAN (NORTON DISNEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Fixture, fittings and equipment
Total
£
£
£
Cost
At 1 December 2022
8,947
4,216
13,163
Additions
6,506
453
6,959
At 30 November 2023
15,453
4,669
20,122
Depreciation and impairment
At 1 December 2022
751
1,891
2,642
Depreciation charged in the year
3,079
620
3,699
At 30 November 2023
3,830
2,511
6,341
Carrying amount
At 30 November 2023
11,623
2,158
13,781
At 30 November 2022
8,196
2,325
10,521
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,571
2,433
Other debtors
11,559
9,777
14,130
12,210
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
13,535
14,688
Amounts owed to group undertakings
293,981
15,154
Taxation and social security
2,078
4,291
Other creditors
14,111
13,051
Accruals and deferred income
3,753
4,426
327,458
51,610
THE GREEN MAN (NORTON DISNEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Loans and borrowings
-
150,000
150,000
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share capital of of £1 each
100
100
100
100
9
Directors' transactions
At the balance sheet date amounts owed to the directors amounted to £13,760 (2021 - £12,644).