Green Arc Consulting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07890418 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

FOR

GREEN ARC CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Everett

Mrs E J Everett

REGISTERED OFFICE:

22 Foyle Street

Sunderland

Tyne and Wear

SR1 1LE

REGISTERED NUMBER:

07890418 (England and Wales)

ACCOUNTANTS:

Stafford Accountancy

22 Foyle Street

Sunderland

Tyne and Wear

SR1 1LE

FIXED ASSETS

Intangible assets

4

5,500

6,000

Tangible assets

5

896

1,228

6,396

7,228

CURRENT ASSETS

Debtors

6

31,202

44,751

Cash at bank

30,141

166

61,343

44,917

CREDITORS

Amounts falling due within one year

7

31,958

33,256

NET CURRENT ASSETS

29,385

11,661

TOTAL ASSETS LESS CURRENT LIABILITIES

35,781

18,889

CREDITORS

Amounts falling due after more than one year

8

(33,542

)

(8,125

)

PROVISIONS FOR LIABILITIES

(170

)

(199

)

NET ASSETS

2,069

10,565

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

2,067

10,563

SHAREHOLDERS' FUNDS

2,069

10,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st December 2021 and were signed on its behalf by:

C Everett - Director

1.	STATUTORY INFORMATION

Green Arc Consulting Limited is a private company, limited by shares , registered in England 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents revenue earned under a wide variety of contracts to provide structural engineering, design and consultancy services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts.

Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Services provided which at the balance sheet date have not been billed and where there is a right to consideration, have been recognised as fee income. Fee income recognised in this manner is based on an assessment of the fair value of the service provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included within debtors as amounts recoverable on contracts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Government grants

Grants are recognised within the financial statements in the period where there is reasonable

assurance that the grant conditions will be met and that all conditions attaching to the grant will be

complied with.

When the grant relates to an expenses, it is recognised as income over the years necessary to match the grant on a systematic basis to the costs that it intends to compensate.

Taxation

Taxation for the year 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2020

and 31st March 2021

10,000

AMORTISATION

At 1st April 2020

4,000

Charge for year

500

At 31st March 2021

4,500

NET BOOK VALUE

At 31st March 2021

5,500

At 31st March 2020

6,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2020

and 31st March 2021

1,061

5,623

6,684

DEPRECIATION

At 1st April 2020

496

4,960

5,456

Charge for year

113

219

332

At 31st March 2021

609

5,179

5,788

NET BOOK VALUE

At 31st March 2021

452

444

896

At 31st March 2020

565

663

1,228

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

14,820

19,590

Amounts recoverable on contract

12,525

13,775

Directors' current accounts

3,857

11,386

31,202

44,751

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,583

9,372

Trade creditors

1,999

149

Tax

8,099

9,494

Social security and other taxes

1,006

1,072

VAT

10,406

6,479

Other creditors

865

6,690

31,958

33,256

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

33,542

8,125

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1

2

2

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £931 (2020:£931).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2021 and 31st March 2020:

2021

2020

£

£

C Everett

Balance outstanding at start of year

11,386

-

Amounts advanced

34,471

19,936

Amounts repaid

(42,000

)

(8,550

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,857

11,386