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GREENJETS LIMITED

Registered Number
14513490
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

GREENJETS LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

Arava Anmol Manohar
Dr Guido Monterzino

Registered Address

27 Old Gloucester Street
London
WC1N 3AX

Registered Number

14513490 (England and Wales)
GREENJETS LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets351,57718,654
51,57718,654
Current assets
Stocks4-280,000
Debtors5748,811356,705
Cash at bank and on hand2,305,762443,653
3,054,5731,080,358
Creditors amounts falling due within one year6(653,143)(459,646)
Net current assets (liabilities)2,401,430620,712
Total assets less current liabilities2,453,007639,366
Net assets2,453,007639,366
Capital and reserves
Called up share capital1,111753
Share premium5,250,778-
Other reserves-1,730,674
Profit and loss account(2,798,882)(1,092,061)
Shareholders' funds2,453,007639,366
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2025, and are signed on its behalf by:
Arava Anmol Manohar
Director
Registered Company No. 14513490
GREENJETS LIMITED
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Grants received in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited to other operating income when the expenditure is charged to the profit and loss account.
Employee benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Vehicles25-
Office Equipment203
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year2219
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 231,800-25,82127,621
Additions29,8537,00018,48955,342
Disposals--(4,000)(4,000)
At 30 November 2431,6537,00040,31078,963
Depreciation and impairment
At 01 December 23360-8,6078,967
Charge for year6,2581,75011,74419,752
On disposals--(1,333)(1,333)
At 30 November 246,6181,75019,01827,386
Net book value
At 30 November 2425,0355,25021,29251,577
At 30 November 231,440-17,21418,654
4.Stocks

2024

2023

££
Raw materials and consumables-280,000
Total-280,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables30,0647,128
Other debtors453,148327,056
Prepayments and accrued income265,59922,521
Total748,811356,705
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables346,566367,469
Taxation and social security113,63077,941
Other creditors15,60312,037
Accrued liabilities and deferred income177,3442,199
Total653,143459,646
7.Events after reporting date
Subsequent to the year-end, the company issued additional share capital as follows: On 17 December 2024, the company issued 45,786 ordinary shares with a nominal value of £0.001 per share at a premium of £19.0229 per share, raising total proceeds of £871,028. On 9 January 2025, the company issued 14,087 ordinary shares with a nominal value of £0.001 per share at a premium of £19.0229 per share, raising total proceeds of £267,990. These transactions occurred after the balance sheet date and do not impact the financial position as at the year-end but are disclosed as significant subsequent events.
8.Prior period policy changes
During the financial year, the company reviewed its accounting treatment of costs related to Project Materials and Sub-contractor labour. Previously, these costs were classified under Direct Expenses within Cost of Sales. However, as these expenses primarily relate to research and development activities, which are partially funded by grant income rather than the manufacturing of goods for resale, it has been deemed more appropriate to classify them as overheads in the financial statements. This reclassification provides a more accurate reflection of the company’s cost structure and aligns with the nature of these expenditures. The impact of this change has been applied retrospectively, where necessary, to ensure consistency and comparability in the financial statements