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REGISTERED NUMBER: 12679088 (England and Wales)










GL101 Limited
Trading as
Greens

Unaudited Financial Statements

for the Year Ended 31 July 2023






GL101 Limited (Registered number: 12679088)
Trading as Greens






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GL101 Limited
Trading as Greens

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr B Gregg





REGISTERED OFFICE: 31 Sackville Street
Manchester
England
M1 3LZ





REGISTERED NUMBER: 12679088 (England and Wales)






GL101 Limited (Registered number: 12679088)
Trading as Greens

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 4,963 6,618

CURRENT ASSETS
Stocks 4,608 5,223
Debtors 6 310,242 127,447
Cash at bank and in hand 26,714 20,435
341,564 153,105
CREDITORS
Amounts falling due within one year 7 (334,432 ) (155,130 )
NET CURRENT ASSETS/(LIABILITIES) 7,132 (2,025 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,095

4,593

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 11,995 4,493
SHAREHOLDERS' FUNDS 12,095 4,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





Mr B Gregg - Director


GL101 Limited (Registered number: 12679088)
Trading as Greens

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. GENERAL INFORMATION

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

The address of its registered office is:
31 Sackville Street
Manchester
England
M1 3LZ

2. 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).

3. 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.

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.

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 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.

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.

GL101 Limited (Registered number: 12679088)
Trading as Greens

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. ACCOUNTING POLICIES - continued

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
Fixtures & fittings 25% Reducing Balance Method
Equipment 25% Reducing Balance Method

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 113 (2022 - 113 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 7,508 1,746 9,254
DEPRECIATION
At 1 August 2022 1,932 704 2,636
Charge for year 1,394 261 1,655
At 31 July 2023 3,326 965 4,291
NET BOOK VALUE
At 31 July 2023 4,182 781 4,963
At 31 July 2022 5,576 1,042 6,618

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 310,242 127,447

GL101 Limited (Registered number: 12679088)
Trading as Greens

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The debtors include amounts owed from associated companies. It's unlikely that those intercompany debts will be paid in full.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax control 6,971 4,574
PAYE and NIC creditor 72,287 10,664
Pension contributions unpaid 7,945 (738 )
VAT 8,207 1,537
Netwest Creditcard 1 3,399 3,399
Netwest Creditcard 2 (164 ) (162 )
Other creditors - Liquid Finance Partners - 45,500
Other creditors - Shacter cohen & bors LLP 3,054 2,078
Other creditors - YLIV LIMITED 40,000 40,000
Other creditors- Greyhound (GL102) - 10,609
Directors' current accounts 188,733 33,669
Accruals 4,000 4,000
334,432 155,130

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary share 1 100 100