Company registration number 07364675 (England and Wales)
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
242,331
284,019
Current assets
Debtors
4
394,147
314,473
Cash at bank and in hand
36,133
64,645
430,280
379,118
Creditors: amounts falling due within one year
5
(176,440)
(139,804)
Net current assets
253,840
239,314
Total assets less current liabilities
496,171
523,333
Creditors: amounts falling due after more than one year
6
(89,580)
(99,603)
Provisions for liabilities
(13,857)
(12,488)
Net assets
392,734
411,242
Capital and reserves
Called up share capital
172,002
172,002
Profit and loss reserves
220,732
239,240
Total equity
392,734
411,242
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 March 2025
Mr KA Nixon
Director
Company registration number 07364675 (England and Wales)
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Green Planet Environmental Recycling Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Woodside Lodge, Shorthorn Road, Norwich, Norfolk, England, NR10 5NU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
- 2% straight line
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 25% reducing balance
Computers
- 25% straight line
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
159,674
721,064
880,738
Additions
20,000
20,000
Disposals
(32,500)
(32,500)
At 30 September 2024
159,674
708,564
868,238
Depreciation and impairment
At 1 October 2023
16,512
580,207
596,719
Depreciation charged in the year
3,193
34,120
37,313
Eliminated in respect of disposals
(8,125)
(8,125)
At 30 September 2024
19,705
606,202
625,907
Carrying amount
At 30 September 2024
139,969
102,362
242,331
At 30 September 2023
143,163
140,856
284,019
Last year c/fwd cost
159,674
721,063
GREEN PLANET ENVIRONMENTAL RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,683
36,343
Other debtors
389,464
278,130
394,147
314,473
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
155,195
119,058
Corporation tax
36
Other taxation and social security
7,426
6,903
Other creditors
3,819
3,807
176,440
139,804
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
17,500
Other creditors
82,080
82,103
89,580
99,603