Registered number
12251548
Greensolo Ltd
Filleted Accounts
31 October 2023
Greensolo Ltd
Registered number: 12251548
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,131 13,073
Current assets
Debtors 4 46,727 29,628
Cash at bank and in hand 13,481 7,733
60,208 37,361
Creditors: amounts falling due within one year 5 (67,794) (47,640)
Net current liabilities (7,586) (10,279)
Total assets less current liabilities 3,545 2,794
Provisions for liabilities (2,950) (2,484)
Net assets 595 310
Capital and reserves
Called up share capital 100 100
Profit and loss account 495 210
Shareholders' funds 595 310
The director is 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 director acknowledges his 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.
Liam Byrne
Director
Approved by the board on 30 August 2024
Greensolo Ltd
Notes to the Accounts
for the year ended 31 October 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.
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 at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are 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. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 5,526 11,990 17,516
Additions 1,769 - 1,769
At 31 October 2023 7,295 11,990 19,285
Depreciation
At 1 November 2022 1,027 3,416 4,443
Charge for the year 1,567 2,144 3,711
At 31 October 2023 2,594 5,560 8,154
Net book value
At 31 October 2023 4,701 6,430 11,131
At 31 October 2022 4,499 8,574 13,073
4 Debtors 2023 2022
£ £
Trade debtors 13,727 10,648
Other debtors 33,000 18,980
46,727 29,628
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 8,305
Taxation and social security costs 63,726 37,201
Other creditors 4,068 2,134
67,794 47,640
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Liam Byrne
Loan 1 7,000 - (7,000) -
Loan 2 - 16,000 - 16,000
Lisa Byrne (resigned 7 May 2024)
Loan 1 7,000 - (7,000) -
Loan 2 - 16,000 - 16,000
14,000 32,000 (14,000) 32,000
The directors' loans are unsecured and repayable on demand. Interest is charged at 2.25% per annum.
7 Other information
Greensolo Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Keepers Cottage
Warrens Green
Weston
Hitchin
SG4 7ED
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