Green Genie Spirits Limited 13980207 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Wholesale of wine, beer, spirits and other alcoholic beverages Digita Accounts Production Advanced 6.30.9574.0 true true 13980207 2023-04-01 2024-03-31 13980207 2024-03-31 13980207 bus:OrdinaryShareClass1 2024-03-31 13980207 core:CurrentFinancialInstruments 2024-03-31 13980207 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13980207 bus:SmallEntities 2023-04-01 2024-03-31 13980207 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13980207 bus:FilletedAccounts 2023-04-01 2024-03-31 13980207 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13980207 bus:RegisteredOffice 2023-04-01 2024-03-31 13980207 bus:Director1 2023-04-01 2024-03-31 13980207 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13980207 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13980207 countries:EnglandWales 2023-04-01 2024-03-31 13980207 2022-03-16 2023-03-31 13980207 2023-03-31 13980207 bus:OrdinaryShareClass1 2023-03-31 13980207 core:CurrentFinancialInstruments 2023-03-31 13980207 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13980207

Green Genie Spirits Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Green Genie Spirits Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Green Genie Spirits Limited

Company Information

Director

Mr Steven Scutt

Registered office

10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Green Genie Spirits Limited

(Registration number: 13980207)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

-

3,100

Debtors

5

-

3,467

Cash at bank and in hand

 

1

617

 

1

7,184

Creditors: Amounts falling due within one year

6

(29,678)

(40,340)

Net liabilities

 

(29,677)

(33,156)

Capital and reserves

 

Called up share capital

7

120

120

Share premium reserve

19,980

-

Retained earnings

(49,777)

(33,276)

Shareholders' deficit

 

(29,677)

(33,156)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 November 2024
 

.........................................
Mr Steven Scutt
Director

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

The principal place of business is:
25 The Bury
Bury Lane
Codicote
Hertfordshire
SG4 8GG

These financial statements were authorised for issue by the director on 20 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Other inventories

-

3,100

5

Debtors

2024
£

2023
£

Trade debtors

-

365

Prepayments

-

2,694

Other debtors

-

408

-

3,467

 

Green Genie Spirits Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

1,983

-

Trade creditors

 

2,195

3,784

Taxation and social security

 

325

-

Other creditors

 

19,040

31,000

Directors Loan Account

 

6,135

5,556

 

29,678

40,340

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

120

120

120

120

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,979

-

Bank overdrafts

4

-

1,983

-