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Registration number: 07856699

Green Machine SW Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Green Machine SW Ltd

Contents

Statement of Financial Position

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 7

 

Green Machine SW Ltd

(Registration number: 07856699)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

585,511

125,899

Current assets

 

Stocks

10,000

500

Debtors

5

937,150

876,294

Cash at bank and in hand

 

140,378

33,784

 

1,087,528

910,578

Creditors: Amounts falling due within one year

6

(254,122)

(189,624)

Net current assets

 

833,406

720,954

Total assets less current liabilities

 

1,418,917

846,853

Creditors: Amounts falling due after more than one year

6

(415,436)

(52,025)

Provisions for liabilities

(3,214)

(5,877)

Net assets

 

1,000,267

788,951

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,000,167

788,851

Shareholders' funds

 

1,000,267

788,951

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.

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 


Mr J P Rellis
Director

 

Green Machine SW Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2023

100

788,851

788,951

Profit for the year

-

211,316

211,316

At 31 December 2023

100

1,000,167

1,000,267

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2022

100

560,400

560,500

Profit for the year

-

228,451

228,451

At 31 December 2022

100

788,851

788,951

 

Green Machine SW 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 United Kingdom.

The address of its registered office is:
130 Berrow Road
Burnham on Sea
Somerset
TA8 2PH

Principal activity

The principal activity of the company is provision of cleaning services

2

Accounting policies

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

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 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.

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 statement of financial position 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.

 

Green Machine SW Ltd

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

2

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

Freehold property

- 2% straight line

Plant and machinery

- 20% straight line

Motor vehicles

- 20% straight line

Impairment

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Green Machine SW Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 365 (2022 - 365).

 

Green Machine SW Ltd

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

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

-

43,231

204,567

247,798

Additions

501,952

-

10,000

511,952

At 31 December 2023

501,952

43,231

214,567

759,750

Depreciation

At 1 January 2023

-

37,896

84,003

121,899

Charge for the year

10,039

1,334

40,967

52,340

At 31 December 2023

10,039

39,230

124,970

174,239

Carrying amount

At 31 December 2023

491,913

4,001

89,597

585,511

At 31 December 2022

-

5,335

120,564

125,899

5

Debtors

2023
£

2022
£

Trade debtors

735,649

552,649

Other debtors

201,501

323,645

937,150

876,294

 

Green Machine SW Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

105,760

37,032

Trade creditors

609

-

Taxation and social security

138,925

129,348

Accruals and deferred income

4,646

3,600

Other creditors

4,182

19,644

254,122

189,624

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

415,436

52,025

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.