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Company No: 10102898 (England and Wales)

BETTER GREEN LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BETTER GREEN LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BETTER GREEN LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
BETTER GREEN LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS E S Parsons
D A Parsons
REGISTERED OFFICE Hitchcock House
Hilltop Road
Salisbury
SP3 4UF
England
United Kingdom
BUSINESS ADDRESS 94 Lower Marsh, London, Greater London, SE1 7AB
COMPANY NUMBER 10102898 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
BETTER GREEN LTD

BALANCE SHEET

As at 31 March 2024
BETTER GREEN LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 84,195 23,714
84,195 23,714
Current assets
Stocks 200,696 134,060
Debtors 4, 8 912,228 1,028,413
Cash at bank and in hand 839,028 305,679
1,951,952 1,468,152
Creditors: amounts falling due within one year 5 ( 1,202,098) ( 992,979)
Net current assets 749,854 475,173
Total assets less current liabilities 834,049 498,887
Creditors: amounts falling due after more than one year 6 0 ( 31,517)
Provision for liabilities ( 14,369) 0
Net assets 819,680 467,370
Capital and reserves
Called-up share capital 100 100
Profit and loss account 819,580 467,270
Total shareholders' funds 819,680 467,370

For the financial year ending 31 March 2024 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 Better Green Ltd (registered number: 10102898) were approved and authorised for issue by the Board of Directors on 18 July 2024. They were signed on its behalf by:

E S Parsons
Director
BETTER GREEN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BETTER GREEN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Better Green Ltd (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 Hitchcock House, Hilltop Park, Salisbury, SP3 4UF, England, United Kingdom. The trading address of the company during the year being 94 Lower Marsh, London, Greater London, SE1 7AB.

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 Balance Sheet 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.

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.

The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.

Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Foreign currency

The Company's functional and presentational currency is GBP.

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 measure at the 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Interest income

Interest income is recognised in profit or loss using the effective interest method

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and and 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

Plant and machinery 4 years straight line
Vehicles 25 % reducing balance
Computer equipment 3 years straight line

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.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 8,430 32,995 8,325 49,750
Additions 0 90,250 0 90,250
At 31 March 2024 8,430 123,245 8,325 140,000
Accumulated depreciation
At 01 April 2023 8,430 14,398 3,208 26,036
Charge for the financial year 0 27,211 2,558 29,769
At 31 March 2024 8,430 41,609 5,766 55,805
Net book value
At 31 March 2024 0 81,636 2,559 84,195
At 31 March 2023 0 18,597 5,117 23,714

4. Debtors

2024 2023
£ £
Trade debtors 118,530 961,180
Amounts owed by directors 102,246 59,622
Prepayments and accrued income 662,403 2,191
Other debtors 29,049 5,420
912,228 1,028,413

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 35,733 13,000
Trade creditors 219,799 790,124
Taxation and social security 338,340 187,398
Other creditors 608,226 2,457
1,202,098 992,979

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 31,517

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 34,806 23,822

8. Transactions with directors

Directors' Loan account

2024 2023
£ £
Opening Balance 59,622 45,147
Advances to directors 223,320 226,551
Repayments by directors (180,696) (212,076)
102,246 59,622