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REGISTERED NUMBER: 07843309 (England and Wales)
















THE GREEN FUTURES INITIATIVE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE GREEN FUTURES INITIATIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D A Davis
G A Kelly
D E Barraclough
P G Crossley





SECRETARY: M Greaves





REGISTERED OFFICE: Firlands Mill
South Parade
Pudsey
Leeds
West Yorkshire
LS28 8AD





REGISTERED NUMBER: 07843309 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,484 32,385

CURRENT ASSETS
Stocks 93 15,856
Debtors 5 101,025 90,353
Cash at bank and in hand 8,147 5,308
109,265 111,517
CREDITORS
Amounts falling due within one year 6 33,360 33,149
NET CURRENT ASSETS 75,905 78,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,389

110,753

CREDITORS
Amounts falling due after more than one
year

7

560,000

495,000
NET LIABILITIES (460,611 ) (384,247 )

CAPITAL AND RESERVES
Called up share capital 320 320
Retained earnings (460,931 ) (384,567 )
SHAREHOLDERS' FUNDS (460,611 ) (384,247 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)

BALANCE SHEET - continued
30 JUNE 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 18 February 2025 and were signed on its behalf by:





G A Kelly - Director


THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

The Green Futures Initiative 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound.

The Accounts have been prepared on a Going Concern Basis due to the ongoing financial support of the directors and an associated company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e.cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

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.


THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 135,102
Additions 887
Disposals (7,536 )
At 30 June 2024 128,453
DEPRECIATION
At 1 July 2023 102,717
Charge for year 8,172
Eliminated on disposal (5,920 )
At 30 June 2024 104,969
NET BOOK VALUE
At 30 June 2024 23,484
At 30 June 2023 32,385

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 17,377
Other debtors 101,025 72,976
101,025 90,353

THE GREEN FUTURES INITIATIVE LIMITED (REGISTERED NUMBER: 07843309)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 20,299 19,715
Other creditors 13,061 13,434
33,360 33,149

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 560,000 495,000

8. SECURED DEBTS

G&H Building Services Limited holds a fixed and floating charge over the assets of the company.