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REGISTERED NUMBER: 12214687 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GREENEEDLE LIMITED

GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GREENEEDLE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A M Freshwater
H Schneck





REGISTERED OFFICE: 69 Watermint Quay
London
N16 6DN





REGISTERED NUMBER: 12214687 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Investment property 4 4,448,134 16,648,527

CURRENT ASSETS
Debtors 5 2,588,834 2,613,856
Cash at bank 88 1,115
2,588,922 2,614,971
CREDITORS
Amounts falling due within one year 6 (6,700,814 ) (8,210,479 )
NET CURRENT LIABILITIES (4,111,892 ) (5,595,508 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,242

11,053,019

CREDITORS
Amounts falling due after more than one
year

7

-

(5,133,400

)

PROVISIONS FOR LIABILITIES (327,171 ) (1,308,685 )
NET ASSETS 9,071 4,610,934

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 1,721,954 6,887,815
Retained earnings 9 (1,712,983 ) (2,276,981 )
SHAREHOLDERS' FUNDS 9,071 4,610,934

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 directors acknowledge their 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.

GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)

STATEMENT OF FINANCIAL POSITION - 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 Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





H Schneck - Director


GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)

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

1. STATUTORY INFORMATION

Greeneedle Limited 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. 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 16,648,527
Additions 1,144,009
Disposals (13,344,402 )
At 30 September 2024 4,448,134
NET BOOK VALUE
At 30 September 2024 4,448,134
At 30 September 2023 16,648,527

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 6,887,815
Valuation in 2024 (5,165,861 )
Cost 2,726,180
4,448,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 43,895 44,412
Other debtors 2,544,939 2,569,444
2,588,834 2,613,856

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 38,898 72,348
Amounts owed to group undertakings 6,570,040 8,060,411
Taxation and social security 6,043 -
Other creditors 85,833 77,720
6,700,814 8,210,479

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 5,133,400

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

GREENEEDLE LIMITED (REGISTERED NUMBER: 12214687)

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

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 (2,276,981 ) 6,887,815 4,610,834
Profit for the year 563,998 563,998
Revaluation reserve - (5,165,861 ) (5,165,861 )
At 30 September 2024 (1,712,983 ) 1,721,954 8,971

10. ULTIMATE CONTROLLING PARTY

Mountgreen Group Ltd.