0 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 992,135 919,335 36,400 955,735 36,400 72,800 xbrli:pure xbrli:shares iso4217:GBP 07980498 2023-01-01 2023-12-31 07980498 2023-12-31 07980498 2022-12-31 07980498 2022-12-31 07980498 bus:Director3 2023-01-01 2023-12-31 07980498 core:NetGoodwill 2022-12-31 07980498 core:NetGoodwill 2023-12-31 07980498 core:WithinOneYear 2023-12-31 07980498 core:WithinOneYear 2022-12-31 07980498 core:AfterOneYear 2023-12-31 07980498 core:AfterOneYear 2022-12-31 07980498 core:ShareCapital 2023-12-31 07980498 core:ShareCapital 2022-12-31 07980498 core:RetainedEarningsAccumulatedLosses 2023-12-31 07980498 core:RetainedEarningsAccumulatedLosses 2022-12-31 07980498 core:NetGoodwill 2023-01-01 2023-12-31 07980498 core:NetGoodwill 2022-12-31 07980498 bus:SmallEntities 2023-01-01 2023-12-31 07980498 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07980498 bus:FullAccounts 2023-01-01 2023-12-31 07980498 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07980498 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 07980498
Green Power Industries Limited
Filleted Unaudited Financial Statements
31 December 2023
Green Power Industries Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
4
36,400
72,800
Current assets
Stocks
51,874
Creditors: amounts falling due within one year
5
7,939
7,819
------
-------
Net current (liabilities)/assets
( 7,939)
44,055
-------
--------
Total assets less current liabilities
28,461
116,855
Creditors: amounts falling due after more than one year
6
214,614
265,116
--------
--------
Net liabilities
( 186,153)
( 148,261)
--------
--------
Capital and reserves
Called up share capital
1,400,000
1,400,000
Profit and loss account
( 1,586,153)
( 1,548,261)
-----------
-----------
Shareholders deficit
( 186,153)
( 148,261)
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr I M Faulkner
Director
Company registration number: 07980498
Green Power Industries Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced for goods and services provided during the period. (c) Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Licences, Intellectual properties - 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. (d) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
(e) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(f) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
992,135
--------
Amortisation
At 1 January 2023
919,335
Charge for the year
36,400
--------
At 31 December 2023
955,735
--------
Carrying amount
At 31 December 2023
36,400
--------
At 31 December 2022
72,800
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
7,939
7,819
------
------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
214,614
265,116
--------
--------
7. Related party transactions
There is a long term loan of £214,614 (2022: £265,116) owed to Claudio Marati, a shareholder in Green Power Industries Limited .