Company registration number 12940968 (England and Wales)
GREENTRAIL CAPITAL LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GREENTRAIL CAPITAL LTD
COMPANY INFORMATION
Directors
M D Carter
A Porto Dolc
M Puig Sole
Company number
12940968
Registered office
43 - 45 Dorset Street
London
England
W1U 7NA
Accountants
Fisher, Sassoon & Marks
43-45 Dorset Street
London
W1U 7NA
GREENTRAIL CAPITAL LTD
CONTENTS
Page
Directors' report
1
Accountants' report
4
Profit and loss account
5
Balance sheet
6
Notes to the financial statements
7 - 10
GREENTRAIL CAPITAL LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

 

The principal activity of the Company is that of a holding company.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M D Carter
A Porto Dolc
M Puig Sole
Financial instruments

The Company's subsidiary undertaking is regulated by the Financial Conduct Authority and operates within a highly regulated industry. The Company seeks to follow not only the letter .but also the spirit of regulation and to always engage with regulators in an open and flexible manner.

 

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A Porto Dolc
Director
20 September 2024
GREENTRAIL CAPITAL LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

GREENTRAIL CAPITAL LTD
DIRECTORS' DECLARATION ON UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

In relation to the financial statements which comprise the profit and loss account, the balance sheet and the related notes:

 

 

 

On behalf of the board
A Porto Dolc
Director
20 September 2024
GREENTRAIL CAPITAL LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREENTRAIL CAPITAL LTD FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greentrail Capital LTD for the year ended 31 March 2024 which comprise the profit and loss account, the balance sheet 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 https://www.icaew.com/regulation.

This report is made solely to the board of directors of Greentrail Capital LTD, as a body, in accordance with the terms of our engagement letter dated. Our work has been undertaken solely to prepare for your approval the financial statements of Greentrail Capital LTD and state those matters that we have agreed to state to the board of directors of Greentrail Capital LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greentrail Capital LTD and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Greentrail Capital LTD 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 Greentrail Capital LTD. You consider that Greentrail Capital LTD 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 Greentrail Capital LTD. 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.

Fisher, Sassoon & Marks
20 September 2024
Chartered Accountants
43-45 Dorset Street
London
W1U 7NA
GREENTRAIL CAPITAL LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2024
2023
£
£
Turnover
-
-
Administrative expenses
(4,113)
(7,951)
Loss before taxation
(4,113)
(7,951)
Tax on loss
-
0
(1,393)
Loss for the financial year
(4,113)
(9,344)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

GREENTRAIL CAPITAL LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
300,000
300,000
Current assets
Debtors
6
496
344
Cash at bank and in hand
5,444
9,947
Net current assets
5,940
10,291
Net assets
305,940
310,291
Capital and reserves
Called up share capital
325,100
325,100
Profit and loss reserves
(19,160)
(14,809)
Total equity
305,940
310,291

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
A Porto Dolc
Director
Company registration number 12940968 (England and Wales)
GREENTRAIL CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Company information

Greentrail Capital LTD is a private company limited by shares incorporated in England and Wales. The registered office is 43 - 45 Dorset Street, London, England, W1U 7NA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

GREENTRAIL CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial assets

Basic financial assets, which include debtors 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.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, 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 payments 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 creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GREENTRAIL CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
GREENTRAIL CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
300,000
300,000

The investment represents the Company's capital interest in its UK subsidiary· undertaking, Greentrail Partners LLP. The nature of the subsidiary's business is the provision of advisory services to Greentrail Global Master -Fund, LP. For the year ended 31 March 2024 the aggregate share capital and reserves of the LLP is £668,073 (2023: £400,338) and the profit is £267,735 (2023: £96,925).

5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
487
344
Instruments measured at cost less impairment
300,000
300,000
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
487
344
Other debtors
9
-
0
496
344
7
Events after the reporting date

There are no matters to report.

8
Related party transactions

As at 31st March 2024 the Company was owed £487 (2023: £344) from Greentrail Partners LLP, its subsidiary undertaking. This amount is unsecured, interest free and repayable· on demand, and is included in debtors.

 

9
Parent company

The controlling party is A Porto Dolc, a director and shareholder of the Company.

2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.210M D CarterA Porto DolcM Puig Solefalsefalse129409682023-04-012024-03-3112940968bus:Director12023-04-012024-03-3112940968bus:Director22023-04-012024-03-3112940968bus:Director32023-04-012024-03-3112940968bus:RegisteredOffice2023-04-012024-03-31129409682024-03-31129409682022-04-012023-03-31129409682023-03-3112940968core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3112940968core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112940968core:ShareCapital2024-03-3112940968core:ShareCapital2023-03-3112940968core:RetainedEarningsAccumulatedLosses2024-03-3112940968core:RetainedEarningsAccumulatedLosses2023-03-3112940968core:CurrentFinancialInstruments2023-03-3112940968core:WithinOneYear2024-03-3112940968core:WithinOneYear2023-03-3112940968bus:PrivateLimitedCompanyLtd2023-04-012024-03-3112940968bus:FRS1022023-04-012024-03-3112940968bus:AuditExemptWithAccountantsReport2023-04-012024-03-3112940968bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP