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Financial Statements for the Year Ended 30 June 2018 |
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London Green Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 June 2018 |
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for |
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London Green Limited |
London Green Limited (Registered number: 03988445) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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London Green Limited |
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Company Information |
for the Year Ended 30 June 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
London Green Limited (Registered number: 03988445) |
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Statement of Financial Position |
30 June 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Work in progress | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
London Green Limited (Registered number: 03988445) |
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Statement of Financial Position - continued |
30 June 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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London Green Limited (Registered number: 03988445) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2018 |
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1. | STATUTORY INFORMATION |
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London Green Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the net invoiced sales of contractor services, excluding value added tax. |
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Income is recognised by reference to the proportion of the contract completed. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Work in progress |
Work in progress is calculated based on the percentage of completion of the contract or when the majority of the risks and |
rewards have been transferred. |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at transaction price. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
financial position date. |
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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. |
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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. |
London Green Limited (Registered number: 03988445) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Joint venture |
Dependant on the precise nature of the joint venture, either (i) the company's share of profit on the venture is taken |
directly to the profit and loss account and disclosed as joint venture income, or (ii) the company's share of the whole |
transaction is included in sales, cost of sales, interest payable, loans and stock of properties as appropriate, or (iii) the |
whole transaction is accounted for by the company with the share of profits due to third parties being treated as part of the |
cost of sales. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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London Green Limited (Registered number: 03988445) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2017 |
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Additions |
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Disposals | ( |
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( |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
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COST |
At 1 July 2017 |
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Disposals | ( |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Eliminated on disposal | ( |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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5. | WORK IN PROGRESS |
2018 | 2017 |
£ | £ |
Work in progress |
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London Green Limited (Registered number: 03988445) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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Amounts due from related companies | 9,577,518 | 7,280,596 |
Directors' current account | 599,760 | 599,760 |
Tax recoverable |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
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Finance leases |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Amounts due to related companies | 8,783,717 | 6,542,716 |
Directors' current account | 8,710 | 3,732 |
Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases |
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9. | LEASING COMMITMENTS |
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Minimum lease payments fall due as follows: |
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Non-cancellable operating |
leases |
2017 | 2016 |
£ | £ |
Within one year | 72,500 | 72,500 |
Between one and five years | 290,000 | 290,000 |
In more than five years | 217,500 | 290,000 |
580,000 | 652,500 |
London Green Limited (Registered number: 03988445) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 30 June 2018 and the period ended |
30 June 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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11. | RELATED PARTY DISCLOSURES |
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Amounts due from and to related companies, where directors have material interest or execute significant control, are |
unsecured, interest free and repayable on demand. |
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Included in other debtors is £287,132 (2017: £nil) due from a relative of one of the directors on which no interest is being |
charged and is repayable on demand. |
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Included in other creditors is £438,821 (2017: £nil) due to a relative of one of the directors on which no interest is being |
charged and is repayable on demand. |