Green Magic Co. UK Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07923202 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Green Magic Co. UK Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

N Spelman

Mrs J E Spelman

S G Makinson

REGISTERED OFFICE:

Waltham Business Park

Brickyard Road

Swanmore

Southampton

SO32 2SA

REGISTERED NUMBER:

07923202 (England and Wales)

ACCOUNTANTS:

Alison Brooker

Chartered Accountant

19 Calmore Crescent

Calmore

Southampton

Hampshire

SO40 2RJ

FIXED ASSETS

Intangible assets

2

1,000,000

1,062,500

Tangible assets

3

31,419

11,873

1,031,419

1,074,373

CURRENT ASSETS

Stocks

351,027

328,583

Debtors

95,228

87,307

Cash at bank

411,243

208,360

857,498

624,250

CREDITORS

Amounts falling due within one year

317,629

269,661

NET CURRENT ASSETS

539,869

354,589

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,571,288

1,428,962

CREDITORS

Amounts falling due after more than one
year

824,231

890,564

NET ASSETS

747,057

538,398

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

746,957

538,298

SHAREHOLDERS' FUNDS

747,057

538,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 April 2017 and were signed on its behalf by:

N Spelman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, 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.

Plant and machinery etc

-

25% on cost, 20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

1,250,000

AMORTISATION

At 1 August 2015

187,500

Amortisation for year

62,500

At 31 July 2016

250,000

NET BOOK VALUE

At 31 July 2016

1,000,000

At 31 July 2015

1,062,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

41,099

Additions

33,255

Disposals

(7,000

)

At 31 July 2016

67,354

DEPRECIATION

At 1 August 2015

29,226

Charge for year

13,709

Eliminated on disposal

(7,000

)

At 31 July 2016

35,935

NET BOOK VALUE

At 31 July 2016

31,419

At 31 July 2015

11,873

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

100

Ordinary

1

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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 Magic Co. UK Ltd for the year ended 31 July 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Green Magic Co. UK Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Green Magic Co. UK Ltd and state those matters that we have agreed to state to the Board of Directors of Green Magic Co. UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Magic Co. UK Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Green Magic Co. UK Ltd 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 Magic Co. UK Ltd. You consider that Green Magic Co. UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Green Magic Co. UK Ltd. 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.

Alison Brooker

Chartered Accountant

19 Calmore Crescent

Calmore

Southampton

Hampshire

SO40 2RJ

11 April 2017