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REGISTERED NUMBER: SC385141 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GREENLIGHT INNOVATION LTD

GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREENLIGHT INNOVATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: M C Jarvis





SECRETARY: M C Jarvis





REGISTERED OFFICE: Greenlight Innovation Ltd
3.8 Discovery House Gemini Crescent
Dundee Technology Park
Dunee
DD2 1SW





REGISTERED NUMBER: SC385141 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,256 27,966
Tangible assets 5 10,333 14,668
85,589 42,634

CURRENT ASSETS
Debtors 6 154,331 140,052

CREDITORS
Amounts falling due within one year 7 186,943 207,544
NET CURRENT LIABILITIES (32,612 ) (67,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,977

(24,858

)

CREDITORS
Amounts falling due after more than one
year

8

(13,824

)

(23,757

)

PROVISIONS FOR LIABILITIES - (5,695 )
NET ASSETS/(LIABILITIES) 39,153 (54,310 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,053 (54,410 )
39,153 (54,310 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 7 January 2025 and were signed by:





M C Jarvis - Director


GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

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

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

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.

Development costs are being amortised evenly over their estimated useful life of three years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis, 25% on a reducing balance basis and 10% on a straight line basis

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.


GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised and amortised over the period from which the company is expected to benefit.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023 92,691
Additions 58,877
At 30 September 2024 151,568
AMORTISATION
At 1 October 2023 64,725
Charge for year 11,587
At 30 September 2024 76,312
NET BOOK VALUE
At 30 September 2024 75,256
At 30 September 2023 27,966

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 137,364
Additions 4,799
Disposals (101,868 )
At 30 September 2024 40,295
DEPRECIATION
At 1 October 2023 122,696
Charge for year 7,978
Eliminated on disposal (100,712 )
At 30 September 2024 29,962
NET BOOK VALUE
At 30 September 2024 10,333
At 30 September 2023 14,668

GREENLIGHT INNOVATION LTD (REGISTERED NUMBER: SC385141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,086 94,205
Other debtors 81,245 45,847
154,331 140,052

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,511 56,251
Trade creditors 35,906 29,639
Taxation and social security 64,669 78,444
Other creditors 29,857 43,210
186,943 207,544

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 13,824 23,757

9. SECURED DEBTS

The bank term loan and overdraft facility is secured by a bond and floating charge over the assets of the company.