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Company Registration No. 13667274 (England and Wales)
GO GREEN GADGETS LTD Unaudited accounts for the year ended 29 October 2023
GO GREEN GADGETS LTD Unaudited accounts Contents
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GO GREEN GADGETS LTD Company Information for the year ended 29 October 2023
Directors
Imtiyaaz Ahmed Alex Nnamdi Eke
Company Number
13667274 (England and Wales)
Registered Office
C/O Acumen, 37th Floor 1 Canada Square, Canary Wharf London E14 5DY England
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GO GREEN GADGETS LTD Statement of financial position as at 29 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,400 
8,000 
Current assets
Inventories
39,259 
12,000 
Debtors
10,939 
- 
Cash at bank and in hand
34,310 
8,470 
84,508 
20,470 
Creditors: amounts falling due within one year
(68,708)
(12,697)
Net current assets
15,800 
7,773 
Total assets less current liabilities
22,200 
15,773 
Creditors: amounts falling due after more than one year
(15,000)
(15,000)
Net assets
7,200 
773 
Capital and reserves
Called up share capital
99 
99 
Profit and loss account
7,101 
674 
Shareholders' funds
7,200 
773 
For the year ending 29 October 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by
Alex Nnamdi Eke Director Company Registration No. 13667274
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GO GREEN GADGETS LTD Notes to the Accounts for the year ended 29 October 2023
1
Statutory information
GO GREEN GADGETS LTD is a private company, limited by shares, registered in England and Wales, registration number 13667274. The registered office is C/O Acumen, 37th Floor, 1 Canada Square, Canary Wharf, London, E14 5DY, England. The principal place of business is 2ND FLOOR STERLING HOUSE, LANGSTON ROAD, LOUGHTON, IG10 3TS, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements for Go Green Gadgets Ltd have been prepared on a going concern basis, which assumes that the company will continue its operations and meet its obligations as they fall due for the foreseeable future. The directors have assessed the company’s financial position, cash flows, and future projections, taking into account potential risks and uncertainties affecting the business, such as market demand for second-hand mobile phones and economic conditions. Based on this evaluation, the directors are confident that Go Green Gadgets Ltd has sufficient resources to operate for at least the next 12 months and is well-positioned to continue as a going concern. No material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern have been identified, ensuring that the accounts reflect an accurate and sustainable outlook for the business.
Dividend Paid
During the reporting period, dividends were paid by Go Green Gadgets Ltd to the company’s directors as follows: Alex Nnamdi Eke received £8,136.85, Clyden Craig Preville received £12,186, and Imtiyaaz Ahmed received £12,846. These dividends were declared and paid in line with the company’s profitability and in recognition of the directors' equity interests in the business. The dividends have been appropriately accounted for in the financial statements and disclosed in accordance with UK financial reporting standards, reflecting transparency and adherence to statutory requirements. No additional dividend payments were made to other parties during the period.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance Method
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GO GREEN GADGETS LTD Notes to the Accounts for the year ended 29 October 2023
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Go Green Gadgets Ltd is engaged in the resale of second-hand mobile phones. Revenue is derived from the sale of pre-owned devices sourced from individual and corporate suppliers. Sales are recognized when the transfer of ownership occurs, reflecting the fair value of consideration received or receivable. The company adheres to a refurbishment process, where all devices undergo quality checks, repairs, and testing prior to sale, ensuring compliance with industry standards and enhancing product reliability. Inventory consists of acquired mobile phones at the lower of cost and net realizable value, with any impairment accounted for at year-end. This approach aligns with UK financial reporting standards and reflects Go Green Gadgets Ltd’s commitment to quality and sustainable business practices in the circular economy.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion. The closing inventory of Go Green Gadgets Ltd consists of second-hand mobile phones held for resale. Inventory is valued at the lower of cost and net realizable value, in accordance with UK financial reporting standards. The cost of inventory includes the purchase price of each phone and any directly attributable expenses related to refurbishment, testing, and preparation for sale. Net realizable value represents the estimated selling price in the ordinary course of business, less any costs required to make the sale. Inventory is periodically reviewed for impairment, with provisions made for any items that are damaged, obsolete, or otherwise expected to sell below cost. This ensures that inventory is accurately valued and that the accounts reflect the company’s commitment to quality and financial integrity.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 30 October 2022
10,000 
At 29 October 2023
10,000 
Depreciation
At 30 October 2022
2,000 
Charge for the year
1,600 
At 29 October 2023
3,600 
Net book value
At 29 October 2023
6,400 
At 29 October 2022
8,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
6,640 
- 
Other debtors
4,299 
- 
10,939 
- 
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GO GREEN GADGETS LTD Notes to the Accounts for the year ended 29 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
30,533 
- 
Trade creditors
1,650 
- 
Taxes and social security
14,055 
627 
Other creditors
22,470 
12,070 
68,708 
12,697 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
15,000 
15,000 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
99 Ordinary shares of £1 each
99 
99 
9
Average number of employees
During the year the average number of employees was 6 (2022: 5).
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