Greensolo Ltd |
Registered number: |
12251548 |
Balance Sheet |
as at 31 October 2023 |
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Notes |
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|
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) |
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Net assets |
|
|
|
595 |
|
|
310 |
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|
|
|
|
|
|
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Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
495 |
|
|
210 |
|
Shareholders' funds |
|
|
|
595 |
|
|
310 |
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|
|
|
|
|
|
|
|
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. |
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|
Liam Byrne |
Director |
Approved by the board on 30 August 2024 |
|
Greensolo Ltd |
Notes to the Accounts |
for the year ended 31 October 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
25% reducing balance |
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Fixtures, fittings, tools and equipment |
25% reducing balance |
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|
Stocks |
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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. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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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. |
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Foreign currency translation |
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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. |
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2 |
Employees |
2023 |
|
2022 |
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Number |
|
Number |
|
|
Average number of persons employed by the company |
1 |
|
2 |
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|
3 |
Tangible fixed assets |
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|
|
|
Plant and machinery etc |
|
Motor vehicles |
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Total |
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|
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|
£ |
|
£ |
|
£ |
|
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 |
|
|
|
|
|
|
|
|
|
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Depreciation |
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At 1 November 2022 |
1,027 |
|
3,416 |
|
4,443 |
|
Charge for the year |
1,567 |
|
2,144 |
|
3,711 |
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At 31 October 2023 |
2,594 |
|
5,560 |
|
8,154 |
|
|
|
|
|
|
|
|
|
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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 |
|
|
|
|
|
|
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6 |
Loans to directors |
|
Description and conditions |
B/fwd |
|
Paid |
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Repaid |
|
C/fwd |
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Liam Byrne |
|
Loan 1 |
7,000 |
|
- |
|
(7,000) |
|
- |
|
Loan 2 |
- |
|
16,000 |
|
- |
|
16,000 |
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|
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 |
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The directors' loans are unsecured and repayable on demand. Interest is charged at 2.25% per annum. |
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7 |
Other information |
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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 |