Registered number
10692295
Green Velvet Limited
Report and Accounts
31 March 2024
Green Velvet Limited
Report to the director on the preparation of the unaudited statutory accounts of Green Velvet Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Green Velvet Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
11 November 2024
Green Velvet Limited
Registered number: 10692295
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,635 12,486
Current assets
Stocks 1,500 1,500
Cash at bank and in hand 6,225 3,028
7,725 4,528
Creditors: amounts falling due within one year 4 (5,503) (3,283)
Net current assets 2,222 1,245
Total assets less current liabilities 12,857 13,731
Creditors: amounts falling due after more than one year 5 (5,200) (8,000)
Net assets 7,657 5,731
Capital and reserves
Called up share capital 1 1
Profit and loss account 7,656 5,730
Shareholder's funds 7,657 5,731
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Johnson
Director
Approved by the board on 11 November 2024
Green Velvet Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold property 10% straight line
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Improvements to leasehold property Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 14,517 8,524 23,041
At 31 March 2024 14,517 8,524 23,041
Depreciation
At 1 April 2023 4,356 6,199 10,555
Charge for the year 1,270 581 1,851
At 31 March 2024 5,626 6,780 12,406
Net book value
At 31 March 2024 8,891 1,744 10,635
At 31 March 2023 10,161 2,325 12,486
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 2,411 1,263
Other taxes and social security costs 2,925 2,014
Other creditors 167 6
5,503 3,283
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,200 8,000
6 Other information
Green Velvet Limited is a private company limited by shares and incorporated in England. Its registered office is:
110 Unit 3 Trowell Road
Nottingham
NG8 2DH
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