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Registration number: 04983106

Green Zone Design Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Green Zone Design Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Green Zone Design Ltd

Company Information

Directors

Mrs J Hensey

Mr P Hensey

Company secretary

Mrs J Hensey

Registered office

5 St Richards Flats
June Lane
Midhurst
West Sussex
GU29 9ES

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Green Zone Design Ltd

(Registration number: 04983106)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,300

8,542

Current assets

 

Debtors

5

573

1,125

Cash at bank and in hand

 

5,749

11,664

 

6,322

12,789

Creditors: Amounts falling due within one year

6

(14,540)

(18,395)

Net current liabilities

 

(8,218)

(5,606)

Total assets less current liabilities

 

(918)

2,936

Creditors: Amounts falling due after more than one year

6

(2,685)

(4,911)

Provisions for liabilities

(1,387)

(1,623)

Net liabilities

 

(4,990)

(3,598)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(5,090)

(3,698)

Shareholders' deficit

 

(4,990)

(3,598)

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Green Zone Design Ltd

(Registration number: 04983106)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mrs J Hensey
Company secretary and director

.........................................
Mr P Hensey
Director

 

Green Zone Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 St Richards Flats
June Lane
Midhurst
West Sussex
GU29 9ES

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Green Zone Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing balance method

Fixtures and Fittings

15% Reducing balance method

Office Equipment

15% Reducing balance method

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Green Zone Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

4,309

4,491

10,282

19,082

Additions

-

-

120

120

At 31 December 2023

4,309

4,491

10,402

19,202

Depreciation

At 1 January 2023

2,978

3,866

3,696

10,540

Charge for the year

200

156

1,006

1,362

At 31 December 2023

3,178

4,022

4,702

11,902

Carrying amount

At 31 December 2023

1,131

469

5,700

7,300

At 31 December 2022

1,331

625

6,586

8,542

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

500

Prepayments

573

288

Other debtors

-

337

 

573

1,125

 

Green Zone Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,148

2,032

Taxation and social security

 

204

3,350

Accruals and deferred income

 

1,500

1,500

Other creditors

 

10,688

11,513

 

14,540

18,395

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

2,685

4,911

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,685

4,911

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,148

2,032

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £Nil (2022 - £40.00) per ordinary share

 

-

 

4,000

         

 

Green Zone Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

17,371

18,054