ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

GREENSPACE ENERGY CONSERVATION LIMITED - Company Information

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09929069

Greenspace Energy Conservation Limited

Registered number: 09929069

Filleted Accounts

For the year ended 29 February 2020

09929069

29/02/2020

GREENSPACE ENERGY CONSERVATION LIMITED

REGISTERED NUMBER: 09929069

STATEMENT OF FINANCIAL POSITION

AS AT 29 FEBRUARY 2020

	29 February	28 February
	2020	2019
Note	£	£


Current assets
Cash at bank and in hand		4,306		7,462
		4,306		7,462
Creditors: amounts falling due within one year	4	(15,223)		(14,623)
Net current liabilities			(10,917)		(7,161)
Total assets less current liabilities			(10,917)		(7,161)
Net liabilities			(10,917)		(7,161)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(11,017)	(7,261)
	(10,917)	(7,161)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

B M Jacomb

Director

Date: 25 February 2021

The notes on pages 2 to 4 form part of these financial statements.

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09929069

29/02/2020

GREENSPACE ENERGY CONSERVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

1.	General information

Greenspace Energy Conservation Limited (No 9929069) is a private company limited by shares incorporated in England and Wales. Its registered office is 5th Floor, Merck House, Seldown Lane, Poole, Dorset, BH15 1TW.
Its principal activity is the supply and fitting of renewable goods namely battery storage systems and central heating management systems. The company has not traded in this financial year.
The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least 12 months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern.
The director has given his assurance that he will continue to support the company in meeting the company's day to day obligations.
Accordingly the director has a reasonable expectation that the company will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.

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09929069

29/02/2020

GREENSPACE ENERGY CONSERVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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09929069

29/02/2020

GREENSPACE ENERGY CONSERVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

Employees

The average monthly number of employees, including the director who did not receive any remuneration during the year was 1 (2019 - 1).

Trade creditors	2,340	-
Amounts owed to group undertakings	9,409	9,409
Other taxation and social security	1,574	1,538
Accruals and deferred income	1,900	3,676
	15,223	14,623

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