Green Puffin Limited - Period Ending 2018-03-31
Green Puffin Limited - Period Ending 2018-03-31
Year Ended
Registration number:
Green Puffin Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Green Puffin Limited
Company Information
Directors |
Mr J Denham Mr S M Cole Mr J Boss |
Registered office |
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Accountants |
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Page 1 |
Green Puffin Limited
Balance Sheet
31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Deferred tax |
564,346 |
325,175 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
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Page 2 |
Green Puffin Limited
Balance Sheet
31 March 2018
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 09010638
Page 3 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Oil Mill Lane
Clyst St Mary
Exeter
EX5 1AF
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including section 1A, and the Companies Act 2006. There are no material departures from FRS102.
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.
Reclassification of comparative amounts
Revenue recognition
Turnover represents the amounts chargeable, net of value added tax, in respect of the sale of electricity to customers.
Foreign currency transactions and balances
Page 4 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and Machinery |
5.6% straight line |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Page 5 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Other loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
There were no persons employed by the company (including directors) during the current or prior year.
Page 6 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Tangible assets |
Plant and Machinery |
Total |
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Cost or valuation |
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At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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Depreciation |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Plant and machinery depreciation was charged from October 2017 as the asset was in a period of scaling up during the first part of the current year.
Stocks |
2018 |
2017 |
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Raw materials and consumables |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Prepayments |
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- |
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Page 7 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Creditors |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Other creditors |
- |
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Accrued expenses |
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Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2018 |
2017 |
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Loans and borrowings due after one year |
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Other borrowings |
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Other borrowings
Included in other borrowings at the year end is £ |
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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26,501 |
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26,501 |
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26,501 |
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26,501 |
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Rights, preferences and restrictions
The Ordinary 'A' shares and Ordinary 'B' shares rank equally in respect of voting rights and distributions from the company. |
Page 8 |
Green Puffin Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
This falls due as follows:
2018 |
2017 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Control |
The company has no ultimate controlling party.
Page 9 |