Green Light International Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04588102 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

GREEN LIGHT INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

K R Yeo

S Chia

SECRETARY:

K R Yeo

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

04588102 (England and Wales)

ACCOUNTANTS:

Higson APS Limited

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Intangible assets

4

-

500

Tangible assets

5

-

599,466

-

599,966

CURRENT ASSETS

Stocks

6

-

351,947

Debtors

7

100

736,616

Cash at bank and in hand

-

730,423

100

1,818,986

CREDITORS

Amounts falling due within one year

8

-

917,354

NET CURRENT ASSETS

100

901,632

TOTAL ASSETS LESS CURRENT LIABILITIES

100

1,501,598

CREDITORS

Amounts falling due after more than one year

9

-

(347,799

)

PROVISIONS FOR LIABILITIES

-

(23,563

)

NET ASSETS

100

1,130,236

CAPITAL AND RESERVES

Called up share capital

10

70

70

Capital redemption reserve

11

30

30

Retained earnings

11

-

1,130,136

SHAREHOLDERS' FUNDS

100

1,130,236

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 29 September 2017 and were signed on its behalf by:

K R Yeo - Director

S Chia - Director

1.	STATUTORY INFORMATION

Green Light International 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil 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

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2016

17,500

Disposals

(17,500

)

At 31 December 2016

-

AMORTISATION

At 1 January 2016

17,000

Eliminated on disposal

(17,000

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2016

1,441,051

2,985

1,444,036

Additions

64,320

-

64,320

Disposals

(1,505,371

)

(2,985

)

(1,508,356

)

At 31 December 2016

-

-

-

DEPRECIATION

At 1 January 2016

843,087

1,483

844,570

Charge for year

60,558

-

60,558

Eliminated on disposal

(903,645

)

(1,483

)

(905,128

)

At 31 December 2016

-

-

-

NET BOOK VALUE

At 31 December 2016

-

-

-

At 31 December 2015

597,964

1,502

599,466

6.

STOCKS

2016

2015

£

£

Stocks

-

340,675

Work-in-progress

-

11,272

-

351,947

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

-

698,672

Other debtors

100

-

VAT

-

37,943

Prepayments

-

1

100

736,616

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

-

98,207

Tax

-

188,161

Other creditors

-

614,336

Accrued expenses

-

16,650

-

917,354

Other creditors also includes an amount of £ nil (2015 - £466648) owing to Green Light Packaging Limited, a

company under common ownership.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 2-5 years

-

347,799

The bank loan was repaid during the year.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

70

Ordinary

£1

70

70

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2016

1,130,136

30

1,130,166

Profit for the year

273,312

273,312

Dividends

(20,000

)

(20,000

)

Transfer of net assets

(see note 13)

(1,383,448

)

-

(1,383,448

)

At 31 December 2016

-

30

30

12.	RELATED PARTY DISCLOSURES

The company trades with other companies controlled by the directors. All transactions are carried out at arms

length and at full commercial value.

On 1 July 2016 the company transferred its net assets to Green Light Packaging Limited , a company under

common ownership, at a value of £1383448 under the terms of a re-organisation of the two companies under the

control of the directors and shareholders. Tax clearance was obtained for this re-organisation and transfer so that

no tax charge arose on the transfer.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2016 set out on pages to and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson APS Limited

45 Queen Street

Deal

Kent

CT14 6EY

29 September 2017