Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
84,195 | 23,714 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 4, 8 |
|
|
|
Cash at bank and in hand |
|
|
||
1,951,952 | 1,468,152 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
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 |
|
(
|
|
Provision for liabilities | (
|
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Better Green Ltd (registered number:
E S Parsons
Director |
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.
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 £.
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 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 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.
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.
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.
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 |
|
Vehicles |
|
Computer equipment |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
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.
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.
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.
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.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery | Vehicles | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
|
|
|
|
|||
Additions |
|
|
|
|
|||
At 31 March 2024 |
|
|
|
|
|||
Accumulated depreciation | |||||||
At 01 April 2023 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
At 31 March 2024 |
|
|
|
|
|||
Net book value | |||||||
At 31 March 2024 |
|
|
|
|
|||
At 31 March 2023 |
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by directors |
|
|
|
Prepayments and accrued income |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
|
|
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 |