Registered number
06303076
A Bit of Green Ltd
Filleted Accounts
31 December 2023
A Bit of Green Ltd
Registered number: 06303076
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 26,288 34,956
Current assets
Stocks 4,750 4,750
Debtors 4 8,304 2,512
Cash at bank and in hand 21,295 66,377
34,349 73,639
Creditors: amounts falling due within one year 5 (29,798) (49,468)
Net current assets 4,551 24,171
Total assets less current liabilities 30,839 59,127
Creditors: amounts falling due after more than one year 6 (20,702) (30,449)
Provisions for liabilities (4,995) (6,642)
Net assets 5,142 22,036
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,042 21,936
Shareholders' funds 5,142 22,036
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.
Mr P Saunders
Director
Approved by the board on 20 August 2024
A Bit of Green Ltd
Notes to the Accounts
for the year ended 31 December 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 15% reducing balance
Motor vehicles 25% 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 6,692 6,863 74,780 88,335
At 31 December 2023 6,692 6,863 74,780 88,335
Depreciation
At 1 January 2023 6,692 6,155 40,532 53,379
Charge for the year - 106 8,562 8,668
At 31 December 2023 6,692 6,261 49,094 62,047
Net book value
At 31 December 2023 - 602 25,686 26,288
At 31 December 2022 - 708 34,248 34,956
4 Debtors 2023 2022
£ £
Trade debtors 1,200 1,408
Other debtors 7,104 1,104
8,304 2,512
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,044 10,044
Trade creditors 4,533 7,957
Taxation and social security costs 10,106 14,759
Other creditors 5,115 16,708
29,798 49,468
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,702 30,449
7 Events after the reporting date
There are no known events of a material nature since the balance sheet date requiring disclosure, other than those already provided for in the accounts.
8 Contingent liabilities
There are no known contingent liabilities not provided for in these accounts
9 Related party transactions
Dividends of £2000 were paid to the shareholders of the company. As at the year end the company owed Mr P Saunders and Mr J Saunders £5115. The loan is interest free with no fixed date for repayment.
10 Controlling party
The company is under the common control Mr P Saunders and Mr J Saunders being directors and shareholders of the company.
11 Other information
A Bit of Green Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Gilbey Close
Redhill Grange
Wellingborough
Northants
NN9 5YG
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