COMPANY REGISTRATION NUMBER:
10805806
GREEN MACHINE TRADING COMPANY LIMITED
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UNAUDITED FINANCIAL STATEMENTS
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GREEN MACHINE TRADING COMPANY LIMITED
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YEAR ENDED 30 SEPTEMBER 2019
Officers and professional advisers
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1
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Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
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2
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Statement of financial position
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3
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Notes to the financial statements
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5
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GREEN MACHINE TRADING COMPANY LIMITED
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CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
GREEN MACHINE TRADING COMPANY LIMITED
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YEAR ENDED 30 SEPTEMBER 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Green Machine Trading Company Limited for the year ended 30 September 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Green Machine Trading Company Limited in accordance with the terms of our engagement letter dated 28 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Green Machine Trading Company Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Machine Trading Company Limited and its director for our work or for this report.
It is your duty to ensure that Green Machine Trading Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Green Machine Trading Company Limited. You consider that Green Machine Trading Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Green Machine Trading Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
ERC Accountants & Business Advisers Limited
Chartered accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
L1 3DN
23 July 2020
GREEN MACHINE TRADING COMPANY LIMITED
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STATEMENT OF FINANCIAL POSITION
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30 September 2019
CURRENT ASSETS
Debtors
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6
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2,149
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48,607
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Cash at bank and in hand
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8,430
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13,793
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---------
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10,579
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62,400
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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7
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12,388
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12,948
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NET CURRENT (LIABILITIES)/ASSETS
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(
1,809)
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49,452
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TOTAL ASSETS LESS CURRENT LIABILITIES
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(
1,809)
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49,452
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NET (LIABILITIES)/ASSETS
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(
1,809)
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49,452
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-------
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CAPITAL AND RESERVES
Called up share capital
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10
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10
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Profit and loss account
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(
1,819)
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49,442
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SHAREHOLDERS (DEFICIT)/FUNDS
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(
1,809)
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49,452
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These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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GREEN MACHINE TRADING COMPANY LIMITED
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STATEMENT OF FINANCIAL POSITION (continued)
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30 September 2019
These financial statements were approved by the
board of directors
and authorised for issue on
23 July 2020
, and are signed on behalf of the board by:
Company registration number:
10805806
GREEN MACHINE TRADING COMPANY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 30 SEPTEMBER 2019
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
3
(2018: Nil).
5.
TAX ON (LOSS)/PROFIT
Major components of tax expense
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Period from
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Year to
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1 Aug 17 to
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30 Sep 19
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30 Sep 18
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£
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£
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Current tax:
UK current tax expense
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1,453
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11,598
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Tax on (loss)/profit
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1,453
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11,598
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6.
DEBTORS
Other debtors
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2,149
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48,607
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7.
CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
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90
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–
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Corporation tax
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1,503
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11,598
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Social security and other taxes
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3,137
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–
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Other creditors
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7,658
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1,350
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12,388
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12,948
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8.
RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.