Greensea Hydroponics & Plant Lighting Lt - Accounts to registrar (filleted) - small 18.2
Greensea Hydroponics & Plant Lighting Lt - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 28 September 2017 to 30 September 2018 |
for |
Greensea Hydroponics and |
Plant Lighting Limited |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Contents of the Financial Statements |
for the Period 28 September 2017 to 30 September 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Greensea Hydroponics and |
Plant Lighting Limited |
Company Information |
for the Period 28 September 2017 to 30 September 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Balance Sheet |
30 September 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Balance Sheet - continued |
30 September 2018 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Notes to the Financial Statements |
for the Period 28 September 2017 to 30 September 2018 |
1. | STATUTORY INFORMATION |
Greensea Hydroponics and Plant Lighting Limited is a |
and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Property improvements | - |
Fixtures and equipment | - |
Website | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Notes to the Financial Statements - continued |
for the Period 28 September 2017 to 30 September 2018 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, or other related parties. |
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value |
of the future payments and subsequently at amortised cost using the effective interest method. Debt |
instruments that are payable or receivable within one year, typically trade payables or receivables, are |
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected |
to be paid or received. However if the arrangements of a short-term instrument constitute a financing |
transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of |
interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset |
or liability is measured, initially and subsequently, at the present value of the future payment discounted at a |
market rate of interest for a similar debt instrument. |
Financial assets that are measured at cost and 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 Comprehensive Income. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original |
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any |
impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference |
between an asset's carrying amount and best estimate, which is an approximation of the amount that the |
company would receive for the asset if it were to be sold at the balance sheet date. |
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the period 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 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 period 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. |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Notes to the Financial Statements - continued |
for the Period 28 September 2017 to 30 September 2018 |
3. | ACCOUNTING POLICIES - continued |
Leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Impairment |
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but |
excluding investment properties, are assessed to determine whether there is an indication that the carrying |
amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is |
an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use |
and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is |
lower, the carrying amount of the asset is written down to its estimated recoverable amount and an |
impairment loss is recognised in profit and loss. |
Going concern |
The company has negative reserves and a net current liabilities position on the balance sheet. It is reliant upon |
the support of the director to continue trading. The director has confirmed his support for the company for a |
period of at least 12 months from the balance sheet date therefore the accounts are prepared on a going |
concern basis. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 28 September 2017 |
and 30 September 2018 |
DEPRECIATION |
At 28 September 2017 |
Charge for period |
At 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 27 September 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
Greensea Hydroponics and |
Plant Lighting Limited (Registered number: 05578181) |
Notes to the Financial Statements - continued |
for the Period 28 September 2017 to 30 September 2018 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loan and overdraft |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Bank overdrafts |
Company bank borrowings are secured by way of a director's personal guarantee. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £40 | 50,600 | 50,600 |