Registered number
05127388
2 GREEN SMILE LTD
Filleted Accounts
30 November 2023
2 GREEN SMILE LTD
Registered number: 05127388
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
3 705,484 820,484
Tangible assets 4 2,214,976 2,286,465
2,920,460 3,106,949
Current assets
Stocks 19,500 19,000
Debtors 5 46,910 20,812
Cash at bank and in hand 432,763 311,562
499,173 351,373
Creditors: amounts falling due within one year 6 (983,985) (1,100,222)
Net current liabilities (484,813) (748,849)
Total assets less current liabilities 2,435,647 2,358,099
Creditors: amounts falling due after more than one year 7 (1,658,330) (1,827,929)
Provisions for liabilities (236,507) (193,328)
Net assets 540,810 336,842
Capital and reserves
Called up share capital 100 100
Profit and loss account 540,710 336,742
Shareholders' funds 540,810 336,842
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Rajiv Ruwala
Director
Approved by the board on 21 August 2024
2 GREEN SMILE LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Depreciation not provided
Fixtures, fittings, tools and equipment 20% reducing balance
Computer 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 52 51
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 1,740,484
At 30 November 2023 1,740,484
Amortisation
At 1 December 2022 920,000
Provided during the year 115,000
At 30 November 2023 1,035,000
Net book value
At 30 November 2023 705,484
At 30 November 2022 820,484
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Land and buildings Fixtures and fittings Computer Total
£ £ £ £
Cost
At 1 December 2022 1,268,948 1,647,772 6,878 2,923,598
Additions - 140,659 24,359 165,018
At 30 November 2023 1,268,948 1,788,431 31,237 3,088,616
Depreciation
At 1 December 2022 - 635,757 1,376 637,133
Charge for the year - 230,535 5,972 236,507
At 30 November 2023 - 866,292 7,348 873,640
Net book value
At 30 November 2023 1,268,948 922,139 23,889 2,214,976
At 30 November 2022 1,268,948 1,012,015 5,502 2,286,465
5 Debtors 2023 2022
£ £
Trade debtors 44,117 20,812
Other debtors 2,793 -
46,910 20,812
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 142,000 159,204
Obligations under finance lease and hire purchase contracts 53,496 30,192
Trade creditors 60,746 58,384
Other creditors 727,743 852,442
983,985 1,100,222
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 973,808 1,107,850
Obligations under finance lease and hire purchase contracts 84,522 120,079
Other creditors 600,000 600,000
1,658,330 1,827,929
8 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 643,273 582,253
Secured bank loans 1,115,808 1,267,054
Secured loans comprise loans due to Barclays Bank PLC totalling £1,115,808 (2022: £1,2657,054) secured by fixed and floating charges on the assets of the company.
9 Other information
2 GREEN SMILE LTD is a private company limited by shares and incorporated in England. Its registered office is:
2 Green Walk
Dartford
Kent
DA1 4JL
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