The directors present their annual report and financial statements for the 16 month period ended 31 December 2020 with comparative information for the year ended 31 August 2019.
The results for the 16 month period are set out on page 2.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
The directors who held office during the 16 month period and up to the date of signature of the financial statements were as follows:
The company manages relationships with its customers, suppliers, and those individuals and bodies that it has dealings with as closely as possible to ensure the services provided meet the company’s high standards.
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.
The income statement has been prepared on the basis that the company continues to be inactive.
The Big Green Euro Machine Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fifth Floor, 10 St. Bride Street, London, EC4A 4AD.
The financial statements are prepared in Sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1,000 .
These financial statements for the 16 month period ended 31 December 2020 are the first financial statements of The Big Green Euro Machine Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 September 2018. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements , including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group . T he company has therefore taken advantage of e xemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues : The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;
Section 26 ‘Share based Payment’ : Share based payment arrangements required under FRS 102 paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
Section 33 ‘Related Party Disclosures’ : Compensation for key management personnel .
The financial statements of the company are consolidated in the financial statements of Tuffnells Holdings Limited . These consolidated financial statements are available from Companies House.
The financial statements are prepared for the 16 month period ended 31 December 2020 with comparative information for the year ended 31 August 2019 and therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable .
The Company's reporting date was changed to 31 December so as to be co-terminus with the reporting date of its ultimate parent undertaking, Tuffnells Holdings Limited.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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 assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the 16 month period was:
The company is party to a group debenture in respect of certain bank facilities of the group which are secured by way of fixed and floating charges over the group's property interests, interests in subsidiary undertakings, and other assets. The aggregate amount of secured liabilities in respect of the group debenture at 31 December 2020 amounted to £7,925,000.
The Company's ultimate parent company and ultimate controlling party is Tuffnells Holdings Limited, a company incorporated in England and Wales.
The Company's immediate parent undertaking is The Big Green Parcel Machine Limited, a company incorporated in England and Wales.
The parent undertaking of the largest and smallest group of undertakings for which group accounts are drawn up and of which the Company is a member is Tuffnells Holdings Limited, a company incorporated in England and Wales. Copies of the group accounts of Tuffnells Holdings Limited are available from Companies House.