Green 13 Solutions Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 08813834 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Green 13 Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Green

Mrs S M Green

Ms N H Raine

C Martis

REGISTERED OFFICE:

11 Cheviot Close

Shaw

Swindon

SN5 5QD

REGISTERED NUMBER:

08813834 (England and Wales)

ACCOUNTANTS:

Monahans

Chartered Accountants

38-42 Newport Street

Swindon

Wiltshire

SN1 3DR

FIXED ASSETS

Tangible assets

4

384

3,346

CURRENT ASSETS

Debtors

5

28,343

16,237

Cash at bank and in hand

157,481

6,089

185,824

22,326

CREDITORS

Amounts falling due within one year

6

151,321

7,329

NET CURRENT ASSETS

34,503

14,997

TOTAL ASSETS LESS CURRENT LIABILITIES

34,887

18,343

PROVISIONS FOR LIABILITIES

98

669

NET ASSETS

34,789

17,674

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

34,589

17,474

SHAREHOLDERS' FUNDS

34,789

17,674

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

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

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 on 1 May 2017 and were signed on its behalf by:

R Green - Director

1.	STATUTORY INFORMATION

Green 13 Solutions Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amount due for

licensing of software and provision of consultancy services, net of value added tax.

Where payments are received from customers in advance of the period to which the licensing agreement relates, the

amounts are recorded as deferred income and included as part of creditors due within one year.

Where income is contingent on additional criteria being met, the income is recognised to the extent that it relates to the

accounting period and it is probable that it will be received. Such amounts are included in debtors and recorded as

prepayments and accrued income.

Turnover from the supply of consultancy services represents the value of services provided under contracts to the extent

that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a

contract has only been partially completed at the balance sheet date turnover represents the fair value of the service

provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are

received from customer in advance of services provided the amounts are recorded as deferred income and included as part

of creditors due within one year.

Interest receivable

Interest income is recognised using the effective interest method.

Tangible fixed assets

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

Computer equipment

-

50% on straight line basis

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the

original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use,

dismantling and restoration costs and borrowing costs capitalised.

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 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.

Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the

period in which the service is received.

Annual bonus plan

The company operates an annual bonus plan for employees. An expense is recognised in the profit and loss account when

the company has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable

estimate of the obligation can be made.

Cash and cash equivalent

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid

investments with original maturities of three months or less.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction

price, 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.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group

companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where

the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are

presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured

at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged,

cancelled or expires.

Share Capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or

options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the

period in which the dividends and other distributions are approved by the company's shareholders. These amounts are

recognised in the statement of changes in equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2015 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2016

7,008

Additions

767

At 31 December 2016

7,775

DEPRECIATION

At 1 January 2016

3,662

Charge for year

3,729

At 31 December 2016

7,391

NET BOOK VALUE

At 31 December 2016

384

At 31 December 2015

3,346

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

13,977

15,840

Other debtors

752

397

Directors' current accounts

9,447

-

Prepayments and accrued income

4,167

-

28,343

16,237

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

3,664

-

Tax

15,095

3,700

Social security and other taxes

1,954

1,780

Deferred income

125,000

-

Accrued expenses

5,608

1,849

151,321

7,329

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

C Martis

Balance outstanding at start of year

-

-

Amounts advanced

9,447

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,447

-

The maximum loan outstanding due from C Martis during the year was £9,999.

8.	RELATED PARTY DISCLOSURES

During the year the shareholders of the company carried out a share for share exchange with Green 13 Holdings Limited.

The company is now a 100% subsidiary of Green 13 Holdings Limited. Green 13 Holdings Limited is also the holding

company of Green 13 Research Limited. The directors of Green 13 Solutions Limited are also directors of Green 13

Holdings Limited and Green 13 Research Limited.

During the year, Green 13 Solutions Limited sold software to Green 13 Research Limited for £10. Green 13 Solutions

Limited paid Green 13 Research Limited £1 during the year for the right to use this software. These transactions are not

market value transactions.