GREENLANE RENEWABLES UK LIMITED

Company Registration Number:
06649410 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

GREENLANE RENEWABLES UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

GREENLANE RENEWABLES UK LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 54 90
Total fixed assets: 54 90
Current assets
Stocks: 254 198
Debtors:   434 346
Cash at bank and in hand: 132 333
Total current assets: 820 877
Creditors: amounts falling due within one year:   (1,921) (1,502)
Net current assets (liabilities): (1,101) (625)
Total assets less current liabilities: (1,047) (535)
Provision for liabilities: (2) (27)
Total net assets (liabilities): (1,049) (562)
Capital and reserves
Called up share capital: 1 1
Other reserves: 52 52
Profit and loss account: (1,102) (615)
Shareholders funds: (1,049) (562)

The notes form part of these financial statements

GREENLANE RENEWABLES UK LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 March 2024
and signed on behalf of the board by:

Name: Monty Balderston
Status: Director

The notes form part of these financial statements

GREENLANE RENEWABLES UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Tangible fixed assets and depreciation policy

Office, plant and machinery (OPM) is initially recognized at acquisition cost or manufacturing cost, including any costs directly attributable to bringing the assets to the location and condition necessary for them to be capable of operating in the manner intended by the Company’s management.OPM is subsequently measured at cost less accumulated depreciation and impairment losses (see note 2.5).Depreciation is recognized on a straight-line basis (unless otherwise stated) to write down the cost less estimated residual value of OPM. The following useful lives are applied: Office, plant and machinery: 4 - 15 yearsAssets in the course of construction are recognized when costs are incurred in the construction of an asset and are not depreciated until the asset is ready for use.Material residual value estimates and estimates of useful life are updated as required, but at least annually.Gains or losses arising on the disposal of office, plant and machinery are determined as the difference between the disposal proceeds and the carrying amount of the assets and are recognized in profit or loss within other income or other expenses.

Valuation and information policy

Stock is stated at the lower of cost and net realizable value. Cost includes all expenses directly attributable to the manufacturing process as well as suitable allocations of related production overheads, based on normal operating capacity. Costs of ordinarily interchangeable items are assigned using the first in, first out cost formula. Net realizable value is the estimated selling price in the ordinary course of business less any applicable selling expenses.

GREENLANE RENEWABLES UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 11 10

GREENLANE RENEWABLES UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 302
Additions 19
At 31 December 2023 321
Depreciation
At 01 January 2023 212
Charge for year 55
At 31 December 2023 267
Net book value
At 31 December 2023 54
At 31 December 2022 90

GREENLANE RENEWABLES UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Transactions with group companies. As permitted by FRS 101 related party transactions with wholly owned members of the Greenlane Renewables Inc. group have not been disclosed. There are no other related party transactions to disclose.