Green New Deal UK Ltd
Green New Deal UK Ltd
Registered number: 12034800
Financial Statements
For The Year Ended
30 June 2021
Green Accountancy Limited
Chartered Certified Accountants
Witney Business and Innovation Centre
Windrush Park Road
Witney
Oxfordshire
OX29 7DX
Green New Deal UK Ltd
Financial Statements
For The Year Ended
30 June 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—4 |
Green New Deal UK Ltd
Balance Sheet
As at
30 June 2021
Balance Sheet
Registered number:
12034800
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 30 June 2021 | 30 June 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 4 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| NET ASSETS |
|
|
|||
| Income and Expenditure Account |
|
|
|||
| MEMBERS' FUNDS | 2,260 | 36,869 | |||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 2 to 4 form part of these financial statements.
Green New Deal UK Ltd
Notes to the Financial Statements
For The Year Ended
30 June 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
|
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.5.
Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
Green New Deal UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2021
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2020: 4)
3.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| Additions |
|
| As at
|
|
| Depreciation | |
| As at
|
|
| Provided during the period |
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
4.
Debtors
| 30 June 2021 | 30 June 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Owed from director |
|
|
|
| Prepayments - Insurance |
|
|
|
| Corporation tax recoverable assets |
|
|
|
|
|
|
||
5.
Creditors: Amounts Falling Due Within One Year
| 30 June 2021 | 30 June 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| PAYE and social security |
|
|
|
| Net wages | - | 3,831 | |
| Owed to employees |
|
|
|
| Accrued expenses |
|
|
|
| Accountancy fees accrual |
|
|
|
| Pension contributions unpaid |
|
|
|
| Deferred grants |
|
|
|
|
|
|
||
Green New Deal UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2021
6.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7.
FRC Ethical Standard - Provision Available for Small Entities
We do not use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
8.
Audit Information
The auditors report on the account of Green New Deal UK Ltd for the year ended 30 June 2021 was unqualified
The auditor's report was signed by
David Stansfield
(Senior Statutory Auditor)
for and on behalf of
Sedulo Audit Limited
, Statutory Auditor
|
Regency Court
62-66 Deansgate
Manchester
M3 2EN
|
9.
General Information
Green New Deal UK Ltd
is a private company, limited by guarantee, incorporated in England & Wales, registered number
12034800
. The registered office is Oxford House, Derbyshire Street, London, E2 6HG.