ACCOUNTS - Final Accounts preparation

GO GREEN RESTORATION LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-311false2022-01-011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07355458 2022-01-01 2022-12-31 07355458 2021-01-01 2021-12-31 07355458 2022-12-31 07355458 2021-12-31 07355458 c:Director1 2022-01-01 2022-12-31 07355458 d:PlantMachinery 2022-01-01 2022-12-31 07355458 d:MotorVehicles 2022-01-01 2022-12-31 07355458 d:ComputerEquipment 2022-01-01 2022-12-31 07355458 d:OtherPropertyPlantEquipment 2022-12-31 07355458 d:OtherPropertyPlantEquipment 2021-12-31 07355458 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07355458 d:CurrentFinancialInstruments 2022-12-31 07355458 d:CurrentFinancialInstruments 2021-12-31 07355458 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07355458 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07355458 d:ShareCapital 2022-12-31 07355458 d:ShareCapital 2021-12-31 07355458 d:RetainedEarningsAccumulatedLosses 2022-12-31 07355458 d:RetainedEarningsAccumulatedLosses 2021-12-31 07355458 c:OrdinaryShareClass1 2022-01-01 2022-12-31 07355458 c:OrdinaryShareClass1 2022-12-31 07355458 c:OrdinaryShareClass1 2021-12-31 07355458 c:FRS102 2022-01-01 2022-12-31 07355458 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 07355458 c:FullAccounts 2022-01-01 2022-12-31 07355458 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07355458

GO GREEN RESTORATION LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

GO GREEN RESTORATION LTD

REGISTERED NUMBER: 07355458

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		2,066		2,755
Current assets
Debtors: amounts falling due within one year	5	5,675		-
Cash at bank		47		48
Current liabilities
Creditors: amounts falling due within one year	6	(84,609)		(72,635)
Net current liabilities			(78,887)		(72,587)
Total assets less current liabilities			(76,821)		(69,832)

Net liabilities			(76,821)		(69,832)

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(76,822)	(69,833)
		(76,821)	(69,832)

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GO GREEN RESTORATION LTD

REGISTERED NUMBER: 07355458

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

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:

Mr R Johnston

Director

Date: 5 December 2023

The notes on pages 3 to 7 form part of these financial statements.

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GO GREEN RESTORATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	GENERAL INFORMATION

Go Green Restoration Ltd is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 3 Morleys Place, Sawston, Cambridge, CB22 3TG. This Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The company is only able to trade with the continuing support of the director. The director has indicated that this support will not be withdrawn. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

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

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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GO GREEN RESTORATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery	-	25%	reducing balance
Motor vehicles	-	25%	reducing balance
Computer equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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.

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GO GREEN RESTORATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.8

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.

2.9

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.

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GO GREEN RESTORATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.10

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	TANGIBLE FIXED ASSETS

		Other fixed assets
		£
	COST
	At 1 January 2022	16,546
	At 31 December 2022	16,546
	Depreciation
	At 1 January 2022	13,791
	Charge for the year on owned assets	689
	At 31 December 2022	14,480
	Net book value
	At 31 December 2022	2,066
	At 31 December 2021	2,755

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GO GREEN RESTORATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

DEBTORS

					2022	2021
					£	£


Other debtors	5,675	-
	5,675	-

6.	CREDITORS: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	11,266	8,733
Other taxation and social security	50,027	49,501
Other creditors	21,157	12,461
Accruals	2,159	1,940
	84,609	72,635

7.	SHARE CAPITAL
		2022	2021
		£	£

Allotted, called up and fully paid

1 (2021 - 1) Ordinary share of £1	1	1

8.	RELATED PARTY TRANSACTIONS
	During the year the Company operated a loan with the director of the Company. The amount payable to the director of the Company at the year end was £21,157 (2021 - £12,461). This loan is interest free and repayable on demand.

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