Company Registration No. 8095745 (England and Wales)
Green Eco Solar Solutions Ltd
Unaudited accounts
for the year ended 31 December 2023
Green Eco Solar Solutions Ltd
Unaudited accounts
Contents
Green Eco Solar Solutions Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
104,008
75,788
Inventories
62,413
169,839
Cash at bank and in hand
415,865
97,104
Creditors: amounts falling due within one year
(370,819)
(334,061)
Net current assets
171,297
16,077
Total assets less current liabilities
275,305
91,865
Creditors: amounts falling due after more than one year
(31,619)
(63,379)
Provisions for liabilities
Deferred tax
(11,504)
(5,522)
Called up share capital
2
2
Profit and loss account
232,180
22,962
Shareholders' funds
232,182
22,964
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2024 and were signed on its behalf by
D Crowe
Director
Company Registration No. 8095745
Green Eco Solar Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2023
Green Eco Solar Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 8095745. The registered office is Unit 6 Fengates, Haltwhistle Road, South Woodham Ferrers, Chelmsford, Essex, CM3 5ZA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The abridged financial statements have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, including the provisions permitting an abridged profit and loss account and balance sheet to be prepared.
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 20% per annum, and reducing balance basis of 25% per annum.
Assets held under finance leases are depreciated in the same way as owned assets.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lesser are charged to profit and loss account on a straight line basis.
Stocks are stated at the lower of cost and net realisable value. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Green Eco Solar Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2023
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred taxation is recognised on all timing differences between the carrying amounts of the assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on the tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period.
The company operates a defined contribution pension scheme and the pension charged represents the amounts payable by the company to the fund in respect of the year.
The accounts are presented in £ sterling.
4
Tangible fixed assets
Total
At 31 December 2023
239,784
Charge for the year
29,769
At 31 December 2023
135,776
At 31 December 2023
104,008
At 31 December 2022
75,788
5
Average number of employees
During the year the average number of employees was 10 (2022: 8).