IRIS Accounts Production v24.3.0.553 04505243 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045052432023-02-28045052432024-02-29045052432023-03-012024-02-29045052432021-08-31045052432021-09-012023-02-28045052432023-02-2804505243ns15:EnglandWales2023-03-012024-02-2904505243ns14:PoundSterling2023-03-012024-02-2904505243ns10:Director12023-03-012024-02-2904505243ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2904505243ns10:SmallEntities2023-03-012024-02-2904505243ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2904505243ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2904505243ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2904505243ns10:FullAccounts2023-03-012024-02-2904505243ns10:Director22023-03-012024-02-2904505243ns10:RegisteredOffice2023-03-012024-02-2904505243ns5:CurrentFinancialInstruments2024-02-2904505243ns5:CurrentFinancialInstruments2023-02-2804505243ns5:Non-currentFinancialInstruments2024-02-2904505243ns5:Non-currentFinancialInstruments2023-02-2804505243ns5:ShareCapital2024-02-2904505243ns5:ShareCapital2023-02-2804505243ns5:CapitalRedemptionReserve2024-02-2904505243ns5:CapitalRedemptionReserve2023-02-2804505243ns5:RetainedEarningsAccumulatedLosses2024-02-2904505243ns5:RetainedEarningsAccumulatedLosses2023-02-2804505243ns5:PlantMachinery2023-02-2804505243ns5:PlantMachinery2023-03-012024-02-2904505243ns5:PlantMachinery2024-02-2904505243ns5:PlantMachinery2023-02-2804505243ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2904505243ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28
REGISTERED NUMBER: 04505243 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GREEN FUTURE RECYCLING LIMITED

GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

GREEN FUTURE RECYCLING LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: J D Roskell
Miss C D Roskell





REGISTERED OFFICE: Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB





REGISTERED NUMBER: 04505243 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 910,656 729,463

CURRENT ASSETS
Stocks 174,389 152,950
Debtors 6 139,751 170,739
Cash at bank 193,739 205,686
507,879 529,375
CREDITORS
Amounts falling due within one year 7 134,990 59,635
NET CURRENT ASSETS 372,889 469,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,283,545

1,199,203

CREDITORS
Amounts falling due after more than one
year

8

(367,560

)

(309,334

)

PROVISIONS FOR LIABILITIES (187,212 ) (144,583 )
NET ASSETS 728,773 745,286

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 1,000 1,000
Retained earnings 727,673 744,186
SHAREHOLDERS' FUNDS 728,773 745,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

BALANCE SHEET - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Miss C D Roskell - Director


GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Green Future Recycling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. COMPLIANCE WITH ACCOUNTING STANDARDS

These financial statements have been prepared in compliance with FRS 102 Section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant and machinery 10% NBV
Fixtures and fittings 15% NBV

Stocks
Stocks have been valued at the lower of cost and estimated selling price, less costs to sell. In respect of work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of manufacture/completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 848,265
Additions 254,693
At 29 February 2024 1,102,958
DEPRECIATION
At 1 March 2023 118,802
Charge for year 73,500
At 29 February 2024 192,302
NET BOOK VALUE
At 29 February 2024 910,656
At 28 February 2023 729,463

GREEN FUTURE RECYCLING LIMITED (REGISTERED NUMBER: 04505243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 27,143 76,120
Amounts owed by group undertakings 47,025 -
Other debtors 65,583 94,619
139,751 170,739

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 8,333 10,000
Hire purchase contracts 39,861 -
Trade creditors 68,161 40,831
Taxation and social security 1,817 3,048
Other creditors 16,818 5,756
134,990 59,635

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 15,047 23,416
Hire purchase contracts 122,905 -
Other creditors 229,608 285,918
367,560 309,334

9. ULTIMATE CONTROLLING PARTY

The controlling party is Miss C D Roskell.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GREEN FUTURE RECYCLING LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Green Future Recycling Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Green Future Recycling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Green Future Recycling Limited and state those matters that we have agreed to state to the Board of Directors of Green Future Recycling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Future Recycling Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Green Future Recycling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Green Future Recycling Limited. You consider that Green Future Recycling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Green Future Recycling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB


20 November 2024