28/02/2018
2018-02-28
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No description of principal activities is disclosed
2017-03-01
Sage Accounts Production 18.30 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
09992584
2017-03-01
2018-02-28
09992584
2018-02-28
09992584
2017-02-28
09992584
2016-03-01
2017-02-28
09992584
2017-02-28
09992584
core:PlantMachinery
2017-03-01
2018-02-28
09992584
core:FurnitureFittingsToolsEquipment
2017-03-01
2018-02-28
09992584
core:MotorVehicles
2017-03-01
2018-02-28
09992584
bus:RegisteredOffice
2017-03-01
2018-02-28
09992584
bus:LeadAgentIfApplicable
2017-03-01
2018-02-28
09992584
bus:Director1
2017-03-01
2018-02-28
09992584
bus:Director2
2017-03-01
2018-02-28
09992584
core:WithinOneYear
2018-02-28
09992584
core:WithinOneYear
2017-02-28
09992584
core:ShareCapital
2018-02-28
09992584
core:ShareCapital
2017-02-28
09992584
core:RetainedEarningsAccumulatedLosses
2018-02-28
09992584
core:RetainedEarningsAccumulatedLosses
2017-02-28
09992584
bus:SmallEntities
2017-03-01
2018-02-28
09992584
bus:AuditExemptWithAccountantsReport
2017-03-01
2018-02-28
09992584
bus:AbridgedAccounts
2017-03-01
2018-02-28
09992584
bus:SmallCompaniesRegimeForAccounts
2017-03-01
2018-02-28
09992584
bus:PrivateLimitedCompanyLtd
2017-03-01
2018-02-28
Statement of consent to prepare abridged financial statements
All of the members of Green Gates N E Ltd have consented to the preparation of the abridged statement of financial position for the current year ending 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number:
09992584
Green Gates N E Ltd
Unaudited abridged financial statements
28 February 2018
Green Gates N E Ltd
Contents
Directors and other information
Directors report
Accountant's report
Statement of comprehensive income
Abridged statement of financial position
Notes to the financial statements
Green Gates N E Ltd
Directors and other information
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Directors
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Mr Richard Wearmouth
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Mr Matthew Tickner
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Company number
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09992584
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Registered office
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Barmoor Farm House
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Barmoor
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Morpeth
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Northumberland
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NE61 6LB
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Business address
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Barmoor Farm House
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Barmoor
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Morpeth
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Northumberland
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NE61 6LB
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Accountant
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Feeney Madden
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2 Briar Edge
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Forest Hall
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Newcastle Upon Tyne
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NE12 7JN
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Green Gates N E Ltd
Directors report
Year ended 28 February 2018
The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2018.
Directors
The directors who served the company during the year were as follows:
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Mr Richard Wearmouth
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Mr Matthew Tickner
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Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
10 October 2019
and signed on behalf of the board by:
Mr Richard Wearmouth
Director
Green Gates N E Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Green Gates N E Ltd
Year ended 28 February 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2018 which comprise the statement of comprehensive income, abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Feeney Madden
Accountants
2 Briar Edge
Forest Hall
Newcastle Upon Tyne
NE12 7JN
10 October 2019
Green Gates N E Ltd
Statement of comprehensive income
Year ended 28 February 2018
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2018
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2017
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Note
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£
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£
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Turnover
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-
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-
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Administrative expenses
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(
15,719)
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(
11,589)
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_______
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_______
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Operating loss
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(
15,719)
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(
11,589)
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_______
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_______
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Loss before taxation
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4
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(
15,719)
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(
11,589)
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Tax on loss
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-
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-
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_______
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_______
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Loss for the financial year and total comprehensive income
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(
15,719)
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(
11,589)
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_______
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_______
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All the activities of the company are from continuing operations.
Green Gates N E Ltd
Abridged statement of financial position
28 February 2018
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2018
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2017
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Note
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£
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£
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£
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£
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Fixed assets
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Tangible assets
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5
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4,039
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6,057
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_______
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_______
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4,039
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6,057
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Current assets
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Stocks
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419,492
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355,872
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Debtors
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-
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3,438
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Cash at bank and in hand
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9,661
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29,484
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_______
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_______
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429,153
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388,794
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Creditors: amounts falling due
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within one year
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(
460,498)
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(
406,438)
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_______
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_______
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Net current liabilities
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(
31,345)
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(
17,644)
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_______
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_______
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Total assets less current liabilities
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(
27,306)
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(
11,587)
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_______
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_______
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Net liabilities
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(
27,306)
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(
11,587)
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_______
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_______
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Capital and reserves
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Called up share capital
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2
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2
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Profit and loss account
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(
27,308)
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(
11,589)
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_______
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_______
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Shareholders deficit
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(
27,306)
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(
11,587)
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_______
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_______
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For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
10 October 2019
, and are signed on behalf of the board by:
Mr Richard Wearmouth
Director
Company registration number:
09992584
Green Gates N E Ltd
Notes to the financial statements
Year ended 28 February 2018
1.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery
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-
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25 %
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reducing balance
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Fittings fixtures and equipment
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-
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25 %
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reducing balance
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Motor vehicles
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-
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25 %
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reducing balance
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2017: Nil).
4.
Loss before taxation
Loss before taxation is stated after charging/(crediting):
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2018
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2017
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£
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£
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Depreciation of tangible assets
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2,018
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2,018
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_______
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_______
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5.
Tangible assets
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£
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Cost
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At 1 March 2017 and 28 February 2018
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8,075
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_______
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Depreciation
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At 1 March 2017
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2,018
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Charge for the year
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2,018
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_______
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At 28 February 2018
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4,036
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_______
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Carrying amount
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At 28 February 2018
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4,039
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_______
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At 28 February 2017
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6,057
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_______
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