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REGISTERED NUMBER: 11174518 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Greenthink Ltd

Greenthink Ltd (Registered number: 11174518)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenthink Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr J H J Gilding





REGISTERED OFFICE: Olympus Park
2 Olympus Park
Quedgeley
Gloucester
Gloucestershire
GL2 4DH





REGISTERED NUMBER: 11174518 (England and Wales)

Greenthink Ltd (Registered number: 11174518)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 225,592
Tangible assets 6 41,045 65,142
Investments 7 936,710 936,710
977,755 1,227,444

CURRENT ASSETS
Stocks - 28,685
Debtors 8 233,144 108,512
Cash at bank and in hand 5,266 18,780
238,410 155,977
CREDITORS
Amounts falling due within one year 9 578,499 718,446
NET CURRENT LIABILITIES (340,089 ) (562,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

637,666

664,975

CREDITORS
Amounts falling due after more than one
year

10

(25,759

)

(37,594

)

PROVISIONS FOR LIABILITIES - (12,377 )
NET ASSETS 611,907 615,004

CAPITAL AND RESERVES
Called up share capital 12,432 12,432
Share premium 497,368 497,368
Capital redemption reserve 200 200
Retained earnings 101,907 105,004
611,907 615,004

Greenthink Ltd (Registered number: 11174518)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





Mr J H J Gilding - Director


Greenthink Ltd (Registered number: 11174518)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Greenthink Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Greenthink Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates, and assumptions that influence the values reported. These estimates and judgement are regularly reviewed and are based on the experience of the company's management as well as other factors, including the expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements:
The directors have taken consideration of the requirements of the relevant financial reporting standards when preparing the financial statements, and concluded that there is not a reliable estimate of the fair value of the investments in subsidiary undertakings readily available to the company. The directors have subsequently recognised investments in subsidiaries at cost less impairment as disclosed within the accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of multiple businesses in 2019 and 2020 are being amortised evenly over their estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Greenthink Ltd (Registered number: 11174518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Unlisted fixed asset investments are initially recognised at cost, and subsequently stated at cost less any accumulated impairment losses as there is no reliable fair value available.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Greenthink Ltd (Registered number: 11174518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 17 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 316,488 6 316,494
Disposals (316,488 ) (6 ) (316,494 )
At 31 March 2024 - - -
AMORTISATION
At 1 April 2023 90,900 2 90,902
Eliminated on disposal (90,900 ) (2 ) (90,902 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 225,588 4 225,592

Greenthink Ltd (Registered number: 11174518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 150,519
Disposals (25,312 )
At 31 March 2024 125,207
DEPRECIATION
At 1 April 2023 85,377
Charge for year 13,682
Eliminated on disposal (14,897 )
At 31 March 2024 84,162
NET BOOK VALUE
At 31 March 2024 41,045
At 31 March 2023 65,142

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 936,710
NET BOOK VALUE
At 31 March 2024 936,710
At 31 March 2023 936,710

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,903 59,099
Amounts owed by group undertakings 226,517 41,454
Other debtors 1,724 7,959
233,144 108,512

Greenthink Ltd (Registered number: 11174518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,835 9,904
Trade creditors 780 16,532
Amounts owed to group undertakings 564,540 426,873
Taxation and social security - 12,957
Other creditors 1,344 252,180
578,499 718,446

Other creditors includes a balance of £Nil (2023 - £237,664) in relation to Directors' loan account, £Nil (2023 - £1,114) in relation to pensions payable, £Nil (2023 - £149) in relation to credit card, £Nil (2023 £11,520) in relation to deferred income, £342 (2023 - £Nil) in relation to Green Care UK Ltd Loan and £1,002 (2023 - £1,733) in relation to accruals.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,759 37,594

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Wordingham Assets Limited (Registered number: 05168915), a company registered in England and Wales and whose registered office is 2 Olympus Park, Quedgeley, Gloucester, GL2 4DH.