GREEN POWER SYSTEMS LIMITED 31/12/2020 iXBRL

GREEN POWER SYSTEMS LIMITED 31/12/2020 iXBRL

GREEN POWER SYSTEMS LIMITED - Company Information

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Company registration number: 12262960
GREEN POWER SYSTEMS LIMITED
Trading as GREEN POWER SYSTEMS LIMITED
Unaudited financial statements
31 December 2020
GREEN POWER SYSTEMS LIMITED
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
GREEN POWER SYSTEMS LIMITED
Directors and other information
Directors Mr Aidan Patrick McGeary (Appointed 15 October 2019)
Mr Patrick Oliver McGeary (Appointed 15 October 2019)
Mr Sean McGeary (Appointed 15 October 2019)
Company number 12262960
Registered office New Cheshire Wincham Lane
Wincham
Northwich
Cheshire
CW9 6GG
Business address New Cheshire Wincham Lane
Wincham
Northwich
Cheshire
CW9 6GG
Accountants Corr & Corr
2nd Floor, The Cornmill
Lineside, Coalisland
Dungannon
Tyrone
BT71 4LP
Solicitors JMW Solicitors LLP
Kings House,
36 37 King Street,
London,
EC2V 8BB
GREEN POWER SYSTEMS LIMITED
Directors report
Period ended 31 December 2020
The directors present their report and the unaudited financial statements of the company for the period ended 31 December 2020.
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the period. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the period were as follows:
Mr Aidan Patrick McGeary (Appointed 15 October 2019)
Mr Patrick Oliver McGeary (Appointed 15 October 2019)
Mr Sean McGeary (Appointed 15 October 2019)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 06 July 2021 and signed on behalf of the board by:
Mr Aidan Patrick McGeary
Director
GREEN POWER SYSTEMS LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of GREEN POWER SYSTEMS LIMITED
Period ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GREEN POWER SYSTEMS LIMITED for the period ended 31 December 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of GREEN POWER SYSTEMS LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 January 2021. Our work has been undertaken solely to prepare for your approval the financial statements of GREEN POWER SYSTEMS LIMITED and state those matters that we have agreed to state to the board of directors of GREEN POWER SYSTEMS LIMITED as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GREEN POWER SYSTEMS LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that GREEN POWER SYSTEMS LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GREEN POWER SYSTEMS LIMITED. You consider that GREEN POWER SYSTEMS LIMITED is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of GREEN POWER SYSTEMS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Corr & Corr
Chartered Accountants & Registered Auditors
2nd Floor, The Cornmill
Lineside, Coalisland
Dungannon
Tyrone
BT71 4LP
6 July 2021
GREEN POWER SYSTEMS LIMITED
Statement of financial position
31 December 2020
31/12/20
Note £ £
Current assets
Debtors 4 1
_______
1
Net current assets 1
_______
Total assets less current liabilities 1
_______
Net assets 1
_______
Capital and reserves
Called up share capital 1
_______
Shareholders funds 1
_______
The company did not trade during the current period or prior year and has not made either a profit or loss.
For the period ending 31 December 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 06 July 2021 , and are signed on behalf of the board by:
Mr Aidan Patrick McGeary
Director
Company registration number: 12262960
GREEN POWER SYSTEMS LIMITED
Statement of changes in equity
Period ended 31 December 2020
Called up share capital Total
£ £
At 15 October 2019 - -
Profit for the period -
_______ _______
Total comprehensive income for the period - -
Issue of shares 1 1
_______ _______
Total investments by and distributions to owners 1 1
_______ _______
At 31 December 2020 1 1
_______ _______
GREEN POWER SYSTEMS LIMITED
Notes to the financial statements
Period ended 31 December 2020
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is GREEN POWER SYSTEMS LIMITED, New Cheshire Wincham Lane, Wincham, Northwich, Cheshire, CW9 6GG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
31/12/20
£
Other debtors 1
_______
5. Related party transactions
The Company is a wholly owned subsidiary of McGeary Holdings Limited and has taken advantage of the available exepmtion conferred by S1AC.35 of FRS 102 not to disclose transactions with wholly owned subsidiaries of the group.
6. Controlling party
The company is a wholly owned subsidiary of McGeary Holdings Ltd, a company registered in England.The directors regard McGeary Holdings Ltd (08692836), whose registered office address is New Cheshire Business Park Wincham Lane, Wincham, Northwich, Cheshire, CW9 6GG, as the ultimate parent company.The consolidated financial statements of this Group are available at companies house.McGeary Holdings Ltd is under the control of its shareholders, Mr Patrick McGeary & Mrs Pamela McGeay who are therefore deemed to be the ultimate controlling party.