Silverfin false false 31/03/2024 02/12/2022 31/03/2024 Mr M J Daw 02/12/2022 Ms M C Mcinnes 02/12/2022 25 November 2024 The principal activity of the company during the financial period was that of a wedding venue and accommodation. 14521018 2024-03-31 14521018 bus:Director1 2024-03-31 14521018 bus:Director2 2024-03-31 14521018 core:CurrentFinancialInstruments 2024-03-31 14521018 core:ShareCapital 2024-03-31 14521018 core:RetainedEarningsAccumulatedLosses 2024-03-31 14521018 core:LeaseholdImprovements 2022-12-01 14521018 core:PlantMachinery 2022-12-01 14521018 core:OfficeEquipment 2022-12-01 14521018 2022-12-01 14521018 core:LeaseholdImprovements 2024-03-31 14521018 core:PlantMachinery 2024-03-31 14521018 core:OfficeEquipment 2024-03-31 14521018 bus:OrdinaryShareClass1 2024-03-31 14521018 bus:OrdinaryShareClass2 2024-03-31 14521018 2022-12-02 2024-03-31 14521018 bus:FilletedAccounts 2022-12-02 2024-03-31 14521018 bus:SmallEntities 2022-12-02 2024-03-31 14521018 bus:AuditExemptWithAccountantsReport 2022-12-02 2024-03-31 14521018 bus:PrivateLimitedCompanyLtd 2022-12-02 2024-03-31 14521018 bus:Director1 2022-12-02 2024-03-31 14521018 bus:Director2 2022-12-02 2024-03-31 14521018 core:LeaseholdImprovements core:TopRangeValue 2022-12-02 2024-03-31 14521018 core:PlantMachinery core:TopRangeValue 2022-12-02 2024-03-31 14521018 core:OfficeEquipment core:TopRangeValue 2022-12-02 2024-03-31 14521018 core:LeaseholdImprovements 2022-12-02 2024-03-31 14521018 core:PlantMachinery 2022-12-02 2024-03-31 14521018 core:OfficeEquipment 2022-12-02 2024-03-31 14521018 core:CurrentFinancialInstruments 2022-12-02 2024-03-31 14521018 bus:OrdinaryShareClass1 2022-12-02 2024-03-31 14521018 bus:OrdinaryShareClass2 2022-12-02 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14521018 (England and Wales)

THE GREEN CORNWALL LIMITED

Unaudited Financial Statements
For the financial period from 02 December 2022 to 31 March 2024
Pages for filing with the registrar

THE GREEN CORNWALL LIMITED

Unaudited Financial Statements

For the financial period from 02 December 2022 to 31 March 2024

Contents

THE GREEN CORNWALL LIMITED

BALANCE SHEET

As at 31 March 2024
THE GREEN CORNWALL LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 124,849
124,849
Current assets
Stocks 17,920
Debtors 4 597,758
Cash at bank and in hand 358,849
974,527
Creditors: amounts falling due within one year 5 ( 1,018,667)
Net current liabilities (44,140)
Total assets less current liabilities 80,709
Provision for liabilities ( 5,021)
Net assets 75,688
Capital and reserves
Called-up share capital 6 100
Profit and loss account 75,588
Total shareholders' funds 75,688

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Green Cornwall Limited (registered number: 14521018) were approved and authorised for issue by the Board of Directors on 25 November 2024. They were signed on its behalf by:

Mr M J Daw
Director
Ms M C Mcinnes
Director
THE GREEN CORNWALL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 02 December 2022 to 31 March 2024
THE GREEN CORNWALL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 02 December 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

The Green Cornwall Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp, Melville Building East, Royal William Yard, Plymouth, Devon, PL1 3GW, United Kingdom. The address of the principal place of business is The Green Cornwall, Upton Cross, Liskeard, Cornwall, PL14 5BD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
02.12.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 24

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Total
£ £ £ £
Cost
At 02 December 2022 0 0 0 0
Additions 18,537 109,826 13,023 141,386
At 31 March 2024 18,537 109,826 13,023 141,386
Accumulated depreciation
At 02 December 2022 0 0 0 0
Charge for the financial period 485 13,150 2,902 16,537
At 31 March 2024 485 13,150 2,902 16,537
Net book value
At 31 March 2024 18,052 96,676 10,121 124,849

4. Debtors

31.03.2024
£
Other debtors 597,758

5. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 57,704
Taxation and social security 154,789
Other creditors 806,174
1,018,667

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50
50 Ordinary B shares of £ 1.00 each 50
100

7. Related party transactions

Transactions with the entity's directors

31.03.2024
£
Director 1 27,781
Director 2 28,089

During the year, the company advanced £25,119 to director 1. Interest totalling £2,662 has been charged on this loan at the actual office rate set out by HMRC. The total amount owed to the company at the year end was £27,781

During the year, the company advanced £25,386 to director 2. Interest totalling £2,703 has been charged on this loan at the actual office rate set out by HMRC. The total amount owed to the company at the year end was £28,089.